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:.1 f: • <br /> t <br /> 1 . . , F' <br /> • <br /> J.H.R. TRUST <br /> . <br /> c% The Raiser Organization <br /> aoj South Claremont Street - <br /> j San Mateo. CA 94402 <br /> . .. <br /> or such other place(s) as each of the above-listed entities or their respective successors may from time to time <br /> designate by notice to the others; provided, however, that copies of any Notice shall also be sent to the . <br /> Defaulting Pony's Mortgagee in accordance with Section 13.1. Notices shill be deemed given as of the earlier <br /> of actual receipt or three (3) days from the date of mailing. <br /> 12.2 Time and Form of Appmvals. Wherever in this REA approval of a Party or the Operator is ' <br /> required. and unless is different time limit is provided herein, such approval or disapproval shall be given in . <br /> writing within thirty (30) days after receipt of the item to be so approved or disapproved. Failure to give <br /> appmv..1 within the time specified shall be conclusively deemed to constitute approval. Any disapproval which <br /> requires reasonableness shall specify with particularity the reasons therefor. The request for approval shall be <br /> clearly marked as requiring approval and shall indicate the section of this REA under which approval is required. <br /> to I 1 . <br /> 13.MORTGAGEE PROTECTION 07 <br /> O <br /> 13.1 Notice to Mortgagees, Cure Rights. ...4- <br /> Qa - <br /> . (I) Each Mortgagee shall be entitled in receive notice of any default or breach of this REA ... t <br /> by the Party whose Parcel secures such Mortgagee's Mortgage, and any other notice given to such Party under . ;gy , ! • r, <br /> this REA. from each-of the Parties, provided such Mortgagee has delivered a notice to each Party slating that it j• <br /> is a Mortgagee to a specified Parcel, providing its name and address for notice hereunder. Each Party shall . • . <br /> acknowledge in writing its receipt of the name and address of a Mortgagee so-delivered to it. Any notice to a . <br /> Mortgagee shall be given as provided in Section 121, and no notice to a'Party shall be effective until a copy- . <br /> thereof has been given to such Mortgagee if required hereunder. . . . ' <br /> (2) .. If any notice is given of a Party's default, then the Mortgagee under the Mortgage <br /> affecting the defaulting Party's interest in a Parcel or Parcels shall be entitled (but shall not be required) to cure <br /> any such default; provided, however, that if such default is not cured or remedied within•the period described in . <br /> Section 6.1, the non-defaulting Party shall be entitled to cure or remedy such default as set forth in that section. <br /> 1 (3) Any notice given under this REA to a Person which is a Mortgagee in more than one <br /> capacity shall be deemed a notice given in accordance with the terms hereof to-such Person;in all such <br /> capacities. I., <br /> . <br /> 13.2 Priorittof Mortgage Liens. No breach of any provision of this Agreement. nor the enforcement <br /> of any lien provided in this Agreement. shall impair, defeat or invalidate the licit of'any Mortgage; but all <br /> provisions hereof shall thereafter be binding upon and'effective against aity"Owner kit a Parcel whose title is . • '' <br /> .•derived through foreclosure of any Mortgage or acceptance of any deed in lieu'of-foreclosure. • • <br /> ' <br /> 13.3 Subordination of liens. Any lien provided for in Article 6 above shall be subordinate to the lien • ' ' <br /> • of any Mortgage now or hereafter encumbering any Parcel, and-that lien shall be extinguished by the foreclosure - 1 <br /> - of any Mortgage. However, the transfer of that Parcel as a result of the foreclosure of that Mortgage shall '. <br /> extinguish only any lien pursuant to this Agreement that was due and payable before the foreclosure and only as . . <br /> ' to the Parcel affected bythe foreclosure. The purchaser of that Parcel at foreclosure shall take title subject to <br /> • the terns hereof'and shall be liable for any liens arising thereafter prirsuaot to this Agrcentent as a result of <br /> defaults occurring thereafter for su long as the purchaser continues to hold title to that Parcel. Nothing in this . <br /> Section 13.3 shall be construed to release any Owner from its obligation to pay costs levied pursuant to this i • , • , <br /> Agreement during its ownership of its.Parcel(s). • <br /> . , <br /> �t I . .`1' <br /> .r..,.:.-r r-..L....w�w.•�... .._ _�.__.. _J.. �.�......��..�.. .��.�..� .. ..r..,�.�.w�+1 a•••t'r`.y4•?Kt71O4i •? <br /> •. <br /> . , 4e <br /> •'l. <br /> e a <br /> . <br /> ' <br /> • .. , d .• <br /> i. • <br /> .. 4 <br /> . I <br /> ` . <br /> � <br /> I . <br /> I ,• • <br /> • <br /> , <br />