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bind the City or impose any obligation on the City. City shall reasonably cooperate with <br /> Developer and Lender(s), if applicable. City acknowledges that financing may be critical to <br /> Developer, and City shall not unreasonably withhold consent to Lender's requirements, <br /> inclnding but not limited to approval of subordination agreements consistent with current <br /> industry practice. <br /> 6.5.2 � No Grants Durin�?Default. Any grant of a security interest in the Site <br /> during the period of any Default by the Developer shall be null and void, unless all Defaults of <br /> the Developer are cured concurrent with the grant of such security interest. <br /> ! 6.5.3 No Voluntary Amendment or Termination without Consent. No <br /> . amendment or termination of this Agreement by joint action of the City and the Developer shall <br /> be binding on a Lender, unless done with the prior written consent of the Lender. <br /> 6.5.4 Notices of Default. If the City gives any Notice of Default to the <br /> Developer,the City will promptly send a copy of such Notice to each Permitted Encumbrance of <br /> ; which the City has received Notice and an address for service of Notices. No Notice by the City <br /> ' shall be effective against a Lender, unless and until the City has sent a copy of such Notice to the <br /> ' Lender; provided that the City is only required to send Notices to Lenders of which the City has <br /> ' received Notice and an address for service of notices. <br /> 6.5.5 Cure Ri h�ts. A Lender shall have the right, but not the obligation, at <br /> any time prior to termination of this Agreement, to perform any obligation and cure any Default <br /> of the Developer under this Agreement. <br /> 6.5.6 Limitation on Termination Ri�ht. If any Default of the Developer <br /> shall occur that entitles the City to terminate this Agreement, the City shall not be entitled to <br /> terminate ihis Agreement, if a Lender shall do all of the following: <br /> (a) In the case of any Monetary Default, cure the Monetazy <br /> Default, within fifteen (15)business days after expiration of the time period for the Developer to <br /> cure the Monetazy Default; <br /> (b) In the case of any Non-Monetary Default that a Lender can <br /> reasonably cure without possession of the Site, provided that the Lender has cured all Monetary <br /> Defaults, the Lender commences the cure of such Non-Monetary Default, within thirty(30)days <br /> following expiration of the time period for the Developer to cure the Non-Monetazy Default and, <br /> then, diligently prosecutes the cure of such Non-Monetary Default to completion, within a <br /> reasonable time; <br /> (c) In the case of any Non-Monetary Default that a Lender cannot <br /> reasonably cure without possession of the Site, provided that the Lender has cured all Monetary <br /> Defaults, the Lender commences proceedings to foreclose on its Permitted Encumbrance, within <br /> sixty (60} days after expiration of the time period for ihe Developer to cure the Non-Monetary <br /> Default and, then, diligently pursues such foreclosure proceedings to completion, within a <br /> reasonable time. After obtaining possession of the Site, if at all, the Lender shall commence ihe <br /> cure of all Non-Monetary Defaults that a Lender can reasonably cure, within thirty (30) days <br /> aa <br /> 2013.118/BLOCK 2 HUNTER STORM <br /> REV:07-26-13 PT <br />