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day period, and thereafter diligently pursues completion of that cure. Nothing in this <br />Agreement permits or authorizes any Mortgagee to undertake or continue construction <br />or completion of any improvements comprising the Project beyond the extent necessary <br />to conserve or protect improvements or construction already made, without first having <br />expressly assumed Owner's obligations under this Agreement. <br /> <br />(c) If Owner defaults under any Mortgage, City may cure that default prior to <br />completion of any foreclosure or any proceeding to terminate the interest of Owner in <br />the Property. Concurrently with serving any notice of default on Owner under a <br />Mortgage, each Mortgagee shall provide to City the same notice of default given <br />Owner. If City invokes its right to cure, City is entitled to reimbursement from Owner for <br />all costs and expenses incurred by City in curing that default. At its option and in its <br />sole discretion, City may also place a lien upon the Property, or portion thereof, <br />encumbered by the Mortgage with respect to which Owner has defaulted, to the extent <br />of those costs and expenses. That lien is subject and subordinate to the interest of any <br />Mortgagee under its Mortgage, regardless of the date the Mortgage is created or <br />recorded. <br /> <br /> 23, Transfers and Assignments, <br /> <br /> (a) Owner may not sell, assign or transfer this Agreement, or any of its rights, duties <br /> and obligations hereunder, to any person or entity at any time during the term of this <br /> Agreement, except with the written approval of City. City's approval shall not <br /> unreasonably be withheld. <br /> <br /> -18- <br /> Agml-450113001 <br /> FXS:dr <br /> 02/04/02R~ 02/12102R <br /> <br /> <br />