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7.A. - Page 172 6.5.2 No Grants Durin� Default. Any grant of a security interest in the Site during the period of any Default by the Developer shall be null and void, unless all Defaults of the Developer are cured concurrent with the grant of such security interest. 6.5.3 No Voluntarv Amendment or Termination without Consent No amendment or termination of this Agreement by j oint action of the City and the Developer shall be binding on a Lender, unless done with the prior written consent of the Lender. 6.5.4 Notices of Default. If the City gives any Notice of Default to the Developer, the City will promptly send a copy of such Notice to each Permitted Encumbrance of which the City has received Notice and an address for service of Notices. No Notice by the City shall be effective against a Lender, unless and until the City has sent a copy of such Notice to the Lender; provided that the City is only required to send Notices to Lenders of which the City has received Notice and an address for service of notices. 6.5.5 Cure Rights. A Lender shall have the right, but not the obligation, at any time prior to termination of this Agreement, to perform any obligation and cure any Default of the Developer under this Agreement. 6.5.6 Limitation on Termination Ri�ht. If any Default of the Developer shall occur that entitles the City to terminate this Agreement, the City shall not be entitled to terminate this Agreement, if a Lender shall do all of the following: (a) In the case of any Monetary Default, cure the Monetary Default, within fifteen (15) business days after expiration of the time period for the Developer to cure the Monetary Default; (b) In the case of any Non-Monetary Default that a Lender can reasonably cure without possession of the Site, provided that the Lender has cured all Monetary Defaults, the Lender commences the cure of such Non-Monetary Default, within thirty (30) days following expiration of the time period for the Developer to cure the Non-Monetary Default and, then, diligently prosecutes the cure of such Non-Monetary Default to completion, within a reasonable time; (c) In the case of any Non-Monetary Default that a Lender cannot reasonably cure without possession of the Site, provided that the Lender has cured all Monetary Defaults, the Lender commences proceedings to foreclose on its Permitted Encumbrance, within sixty (60) days after expiration of the time period for the Developer to cure the Non-Monetary Default and, then, diligently pursues such foreclosure proceedings to completion, within a reasonable time. After obtaining possession of the Site, if at all, the Lender shall commence the cure of all Non-Monetary Defaults that a Lender can reasonably cure, within thirty (30) days after obtaining possession of the Site and, then, diligently prosecute the cure of such Non- Monetary Defaults to completion, within a reasonable time; and (d) Perform all of the Developer's covenants of this Agreement that can be performed by such Lender, until such time as the applicable Permitted Encumbrance shall be released or reconveyed or the fee title to all of the Site shall be transferred by judicial 82483.00009\7571312.11 44 ATTY/AGR/2013.118/BLOCK 2 HUNTER STORM REV: 07-19-13 PT