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Agmt25 YMCA-SV Second Amendment
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Agmt25 YMCA-SV Second Amendment
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Last modified
8/8/2025 3:32:26 PM
Creation date
8/8/2025 3:32:04 PM
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Agreement
PROJECT NAME
Master Project agreement
RMP File Number
304
Date
8/1/2025
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Exhibit D <br />ATTY/AGR/2025/AMEND NO.2 – YMCA MASTER PROJECT AGREEMENT <br />REV: 07-17-25 VR <br />Site, and (iv) after gaining possession of the YMCA Site, a Lender shall perform all other obligations <br />of Tenant hereunder as and when the same are due. <br />(f) If a Lender is prohibited by any process or injunction issued by any court or <br />by reason of any action by any court having jurisdiction of any bankruptcy or insolvency proceeding <br />involving Tenant from commencing or prosecuting foreclosure or other appropriate proceedings the <br />times specified in subsections (d) and (e) above for commencing or prosecuting such foreclosure or <br />other proceedings shall be extended for the period of such prohibition; provided that Lender shall <br />have fully cured any default in the payment of any monetary obligations of Tenant under this Lease <br />and shall continue to pay currently such monetary obligations as and when the same fall due. <br />(g) Landlord shall mail by certified or registered post, return receipt requested, or <br />personally deliver to any Lender a duplicate copy of any and all notices in writing which Landlord <br />may from time to time give to or serve upon Tenant pursuant to the provisions of this Lease, and such <br />copy shall be mailed or delivered to any Lender at, or as near as possible to, the same time such <br />notices are given or served by Landlord. No notice by Landlord to Tenant hereunder shall be deemed <br />to have been given unless and until a copy thereof shall have been so mailed or delivered to any <br />Lender. Upon the execution of any Leasehold Mortgage, Landlord shall be informed in writing of <br />the vesting of the security interest evidenced by the Leasehold Mortgage and of the address to which <br />all notices to the Lender are to be sent. Notwithstanding any other provision of this Section 18 <br />(Protection of Lender), any Lender shall be deemed to have waived any right to receive notice <br />pursuant to this Section 18 (Protection of Lender) unless and until Landlord has received such <br />information. <br />(h) Foreclosure of the Leasehold Mortgage, or any sale thereunder, whether by <br />judicial proceedings or by virtue of any power contained in the leasehold mortgage, or any <br />assignment or conveyance of the leasehold estate created by this Lease from Tenant to a Lender or <br />other purchaser through, or in lieu of, foreclosure or other appropriate proceedings of a similar nature <br />shall not constitute a breach of any provision of or a default under this Lease. Upon such foreclosure, <br />sale or conveyance Landlord shall recognize the Lender, or any other foreclosure sale purchaser, as <br />Tenant hereunder. In the event a Lender becomes Tenant under this Lease, such Lender shall be liable <br />for the obligations of Tenant under this Lease only for the period of time that such Lender remains <br />Tenant. Such Lender shall have the right to assign this Lease at any time after becoming Tenant <br />without any restriction otherwise imposed on Tenant hereunder and shall be fully released from <br />liability under the Lease from and after the date of such assignment. <br />(i) Should Landlord terminate this Lease by reason of any default by Tenant <br />hereunder, Landlord shall, upon written request by a Lender given within Thirty (30) days after such <br />termination, immediately execute and deliver a new lease of the YMCA Site to such Lender, or its <br />nominee, purchaser, assignee or transferee, for the remainder of the Term with the same agreements, <br />covenants and conditions (except for any requirements which have been fulfilled by Tenant prior to <br />termination) as are contained herein and with priority equal to that hereof; provided, however, that <br />such Lender shall promptly cure any defaults of Tenant susceptible to cure by such Lender and that <br />such Lender’s right to possession of the YMCA Site under the new lease shall commence only upon <br />Page 12 of 50
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