Laserfiche WebLink
with due diligence the cure or remedy of any such Breach and to add the cost <br />thereof to the mortgage debt and the lien of its mortgage; provided, <br />however if the Mortgagee is legally prevented from curing such Breach <br />because of a bankruptcy by the Owner then the thirty (30) day period shall <br />be tolled until such bankruptcy is confirmed or rejected. Nothing contained <br />in this Development Agreement shall be deemed to permit or authorize <br />such Mortgagee to take advantage of Owner's rights hereunder, or any <br />portion thereof, without first having expressly assumed Owner's <br />obligations to the City by written agreement reasonably satisfactory to the <br />City. It is understood that a Mortgagee shall be deemed to have satisfied <br />the thirty (30) day time limit set forth above for commencing to cure or <br />remedy Owner default which requires title and /or possession of the <br />Property (or portion thereof) if and to the extent any such Mortgagee has <br />within such thirty (30) day period commenced proceedings to obtain title <br />and /or possession and thereafter the Mortgagee diligently pursues such <br />proceedings to completion and cures or remedies the Breach, provided <br />that, in such event, all noncurable Defaults shall be waived. <br />8.3 Mortgagee Not Obligated Under this Development Agreement. <br />Unless a Mortgagee expressly assumes Owner's Obligations to the City in <br />accordance with Section 8.2, no Mortgagee shall in any way be obligated <br />by the provisions of this Development Agreement, nor shall any covenant <br />or any other provision in this Development Agreement be construed to <br />obligate such Mortgagee. Nothing in this Development Agreement shall be <br />deemed to construe, permit or authorize any such Mortgagee to devote <br />the Mortgage Parcel to any uses or to construct any improvements on the <br />Mortgagee Parcel, other than those uses or improvements provided for or <br />authorized by this Development Agreement. <br />8.4 No Liability, No Mortgagee shall have any liability beyond its interest in <br />the Mortgage Parcel acquired through enforcement of its Mortgage for the <br />performance or payment of any covenant, liability, warranty or obligation <br />under this Development Agreement. City agrees that it shall look solely to <br />the interests of such Mortgagee in such Mortgage Parcel for payment or <br />discharge of any such covenant, liability, warranty or obligation. <br />8.5 No Amendment or Termination. This Development Agreement shall <br />not, without the prior written consent of all Mortgagees holding Mortgages <br />on any portion of the Property, be amended to (a) terminate this <br />Development Agreement prior to the expiration of the Term (except as <br />expressly provided above) or (b) change any provision of this <br />Development Agreement which, by its terms, is specifically for the benefit <br />of Mortgagees. No amendment to this Development Agreement affecting <br />the Property or any part thereof, made without the consent of any <br />Mortgagee holding a Mortgage on such Property, or any part thereof, shall <br />be binding upon such Mortgagee or its successors in interest should it <br />become a party hereto. <br />11 A -38 <br />