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Agmt19 YMCA of Sillicon Valley Master Project Agmt.
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Agmt19 YMCA of Sillicon Valley Master Project Agmt.
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Last modified
3/29/2022 12:41:49 PM
Creation date
3/25/2022 1:07:48 PM
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Agreement
Contractor Name
YMCA of Sillicon Valley
PROJECT NAME
Purchase and Sale Agreement
RMP File Number
304.5
Date
3/18/2022
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proceedings, all as set forth in, and within the time specified by, this Section 18 (Protection of <br />Lender). <br />(c) Any Lender shall have the right, but not the obligation, at any time prior <br />to termination of this Lease and without payment of any penalty, to pay all of the rents due <br />hereunder, to effect any insurance, to pay any taxes and assessments, to make any repairs and <br />improvements, to do any other act or thing required of Tenant hereunder, and to do any act or <br />thing which may be necessary and proper to be done in the performance and observance of the <br />agreements, covenants and conditions hereof to prevent termination of this Lease. All <br />payments so made and all things so done and performed by a Lender shall be as effective to <br />prevent a termination of this Lease as the same would have been if made, done and performed <br />by Tenant instead of by a Lender. <br />(d) Should any event of default under this Lease occur, any Lender shall <br />have Sixty (60) days after receipt of written notice from Landlord setting forth the nature of <br />such event of default, within which to remedy the default; provided that in the case of a default <br />which cannot with due diligence be cured within such Sixty (60) day period, the Lender(s) shall <br />have the additional time reasonably necessary to accomplish the cure, provided that (i) such <br />Lender has commenced the curing within such Sixty (60) days and (ii) thereafter diligently <br />prosecutes the cure to completion. If the default is such that possession of the YMCA Site may <br />be reasonably necessary to remedy the default, the Lender(s) shall have a reasonable additional <br />time after the expiration of such sixty-day period, within which to remedy such default, <br />provided that (i) the Lender(s) shall have fully cured any default in the payment of any <br />monetary obligations of Tenant under this Lease within such Sixty (60) day period and shall <br />continue to pay currently such monetary obligations as and when the same are due and (ii) the <br />Lender(s) shall have acquired Tenant's leasehold estate or commenced foreclosure or other <br />appropriate proceedings seeking such acquisition within such period, or prior thereto, and is <br />diligently prosecuting any such proceedings. <br />(e) Any event of default under this Lease which is not susceptible to <br />remedy by a Lender shall be deemed to be remedied if (i) within Sixty (60) days after receiving <br />written notice from Landlord setting forth the nature of such event of default, or prior thereto, <br />a Lender shall have acquired Tenant's leasehold estate created hereby or shall have <br />commenced foreclosure or other appropriate proceedings seeking such acquisition, (ii) a Lender <br />shall diligently prosecute any such proceedings to completion, and (iii) a Lender shall have fully <br />cured any default in the payment and performance of any monetary or other obligations of <br />Tenant hereunder which do not require possession of the YMCA Site within such Sixty (60) day <br />period and shall thereafter continue faithfully to perform all such monetary obligations which <br />do not require possession of the YMCA Site, and (iv) after gaining possession of the YMCA Site, <br />a Lender shall perform all other obligations of Tenant hereunder as and when the same are <br />due. <br />(f) If a Lender is prohibited by any process or injunction issued by any <br />court or by reason of any action by any court having jurisdiction of any bankruptcy or <br />ATTY/AGR/2019.316/YMCA MASTER PROJECT AGREEMENT <br />Page 39 of 108 <br />
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