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RES 03043
City of Pleasanton
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RES 03043
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5/13/2003 6:22:08 PM
Creation date
5/13/2003 6:15:12 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/6/2003
DOCUMENT NO
RES 03043
DOCUMENT NAME
BRIDGE HOUSING
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(6) <br /> <br />(7) <br /> <br />(8) <br /> <br /> ATTACHMENT A <br />foreclosure or other appropriate proceedings, (ii) the Lender shall <br />diligently prosecute any such proceedings to completion. (iii) the <br />Lender shall have fully cured any default in the payment of an5' <br />monetary obligations of the Lessee under this Lease which does <br />not require possession of the Land. and (iv~ after gaining <br />possession of the Land. the Lender shall perforna all other <br />obligations of the Lessee under this Lease capable of performance <br />by the Lender when the obligations are due. <br /> <br />The Lenders are prohibited, stayed or enjoined by any bankruptcy. <br />insolvency or other judicial proceedings involving the Lessee from <br />commencing or prosecuting foreclosure or other appropriate <br />proceedings, the times specified for commencing or prosecuting <br />such foreclosure or other proceedings shall be extended for the <br />period of such prohibition: provided that any Lender shall have <br />fully cured any default in the payment of any monetary obligations <br />of the Lessee under this Lease and shall continue to pay currently <br />such monetary obligations when the same fall due: provided, <br />further, that such Lender shall not interfere with the Lessor's efforts <br />to seek compliance by the Lessee with any non-monetary <br />obligation under this Lease. <br /> <br />The Lessor shall mail or deliver to any Lenders which have any <br />outstanding Loan,, whose addresses will be provided to Lessor by <br />Lessee, a duplicate copy of ali notices which the Lessor may from <br />time to time give to the Lessee pursuant to this Lease. No notice <br />by the Lessor to the Lessee under this Lease shall be effective <br />unless and until a copy of the notice shall have been mailed or <br />delivered such Lenders as set forth in this Section. <br /> <br />In the event any Lender becomes the Lessee under this Lease by <br />means of foreclosure or deed in lieu of foreclosure or pursuant to <br />any new lease obtained under subsection (9) below, that Lender <br />shall be personally liable under this Lease or such new lease only <br />for the period of time that the Lender remains the Lessee under this <br />Lease, and that the Lender's right to assign this Lease or such new <br />lease shall be subject to the restrictions set forth in this Lease. <br />Nothing in this Section shall be construed to obligate any Lender <br />to remedy any default of the Lessee, and any failure of any Lender <br />to complete any such cure after commencing the same shall not <br />give rise to any liability of any Lender to the Lessor or the Lessee. <br /> <br /> 15 <br />144\105\153233.13 <br /> <br /> <br />
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