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8. EDSR 06-17-2013
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8. EDSR 06-17-2013
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6/14/2013 11:59:28 AM
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City Government
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date
6/17/2013
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United States or any similar laws of any state or other competent jurisdiction, <br /> shall have remained in force undischarged or unstayed for a period of thirty (30) <br /> days. <br /> (c) Any judgment, attachment, garnishment or other similar process is <br /> entered against Borrower or against any property or assets of Borrower and is not <br /> released, satisfied or discharged or bonded to Lender's satisfaction within thirty <br /> (30) days of entry. <br /> (d) Borrower fails to commence or complete construction of the <br /> Improvements within the time designated in this Agreement. <br /> (e) Any of the terms, covenants or conditions of any permit or other <br /> agreement issued or made by the City or other governmental body having <br /> jurisdiction over the Loan Property, including, but not limited to, those relating to <br /> the cost of or time for installation of the Improvements, are not complied with <br /> within the time required thereby or are terminated or modified by the City or such <br /> other governmental body and Borrower has not taken the necessary steps to <br /> correct or cure the same within thirty (30) days after written notice is given by <br /> Lender. <br /> (f) Any mechanic's or material supplier's lien is filed, against the Loan <br /> Property and is not released, satisfied or discharged or bonded to Lender's <br /> satisfaction, subject, however, to Borrower's right to contest the same in <br /> accordance with the provisions of the Mortgage. <br /> (g) A transfer which violates by Paragraph 11 hereof, occurs. <br /> (h) Borrower: (i) fails to pay any amount due under this Agreement, <br /> the Note, the Mortgage, the Contract for Deed or any document evidencing the <br /> Secondary Financing when due; or (ii) fails to perform any other obligation to be <br /> performed under this Agreement, the Note, the Mortgage, the Contract for Deed, <br /> any document evidencing the Secondary Financing or any other document <br /> executed by Borrower pursuant to this Agreement and such failure continues <br /> beyond any applicable cure period. <br /> (i) Any representation or warranty by Borrower contained herein or in <br /> the Note, the Mortgage or any other instrument required hereunder is false or <br /> untrue in any material respect when made. <br /> (j) Borrower defaults in the payment or performance of anything by it <br /> to be paid or performed under any note, mortgage or other agreement now or <br /> hereafter made by Borrower in favor of or with Lender or otherwise now or <br /> hereafter held by Lender and as to defaults other than in the payment of a sum <br /> when due, the continuance thereof beyond any notice and/or cure period <br /> contained therein. <br /> -10- <br />
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