7.2. HRSR 10-05-2020 - Laserfiche WebLink

Home Browse Search

4. Conditions to Lender's Forbearance. Lender's willingness to forbear as provided in this Agreement is conditioned on the following: (a) The execution of this Agreement by Borrower; (b) Borrower making all required payments to Lender as and when due pursuant to the terms of Section 3 above; (c) Borrower agreeing to make all of the monthly payments to the Servicer through Automatic Payments in a date no later than the 10"'of each month. (d) Borrower satisfying all of its obligations under the Loan Documents,including the payment in full of all outstanding principal and interest owed pursuant to the Mortgage and Repayment Agreement as of the date specified in Section 3 above; and (e) Borrower complying with all requirements of the Loan Documents to the extent not inconsistent with this Agreement. 5. Representations and Warranties. All representations and warranties contained in this Agreement, including but not limited to the recitals herein, and in any and all of the other Loan Documents, are true and correct as of the Effective Date, and all such representations and warranties shall survive the execution of this Agreement. The Loan Documents represent unconditional, absolute, valid, and enforceable obligations against Borrower. To the best of its knowledge,Borrower has no claims or defenses against Lender or any other person or entity which would or might affect (i)the enforceability of any provisions of any Loan Documents or(ii)the collectability of sums advanced by Lender in connection with Borrower's obligations under the Loan Documents. Borrower understands and acknowledges that Lender is entering into this Agreement in reliance upon, and in partial consideration for,this acknowledgment and representation, and agrees that such reliance is reasonable and appropriate. 6. Default. An Agreement Default("Agreement Default") shall exist under this Agreement if any one or more of the following events shall have occurred after the Effective Date, and which remain uncured past any applicable cure period: (a) Any breach or default in performance by Borrower, of any of the agreements,payments, terms, conditions, covenants,warranties,or representations set forth in this Agreement,which remains uncured more than thirty (30)days after Lender provides written notice thereof, (b) Borrower's failure to make any payments specified in Section 3 above. (c) The occurrence of any default under the Mortgage and Repayment Agreement as modified by this Agreement occurring after the Effective Date and not otherwise waived pursuant to this Agreement. 7. Remedies in Event of Default. Immediately upon the occurrence of an Agreement Default which remains uncured past any applicable cure period, and notwithstanding anything to the contrary set forth herein, Lender shall have all rights and remedies set forth herein and in the Loan Documents. 8. Incorporation of Other Documents. The Loan Documents and all other agreements, documents Amendment to Mortgage - 3 -