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3103418 <br />deliver to such Mortgagee, concurrently with service thereon to <br />Developer, any notice of default or other determination of <br />noncompliance given to Developer. Each Mortgagee shall have the <br />right (but not the obligation) for a period of ninety (90) days <br />after the receipt of such notice from City to cure or remedy, or <br />to commence to cure or remedy, the event of default claimed or <br />the areas of noncompliance set forth in the City's notice. If <br />the default or such noncompliance is of a nature which can only <br />be remedied or cured by such Mortgagee upon obtaining possession, <br />such Mortgagee may seek to obtain possession with through a <br />receiver or otherwise, and may thereafter remedy or cure the <br />default or noncompliance within ninety (90) days after obtaining <br />possession. If any such default or noncompliance cannot, with <br />diligence, be remedied or cured within such ninety (90) day <br />period, then such Mortgagee shall have such additional time as <br />may be reasonably necessary to remedy or cure such default or <br />noncompliance if such Mortgagee commences a cure during such <br />ninety (90) day period, and thereafter diligently pursues <br />completion of such cure to the extent possible. <br />15. Riaht to Assian, etc.. Developer's rights hereunder <br />may be encumbered, sold or assigned in conjunction with the <br />transfer, sale, assignment or financing of all or any portion of <br />the Property at any time during the term of this Agreement. Upon <br />the sale, transfer or assignment of Developer's rights and <br />interests under this Agreement, Developer shall be released from <br />its obligations pursuant to this Agreement with respect to the <br />Property or portion thereof so transferred which arise subsequent <br />to the effective date of the transfer. <br />16. Bindina on Successors. All of the provisions, <br />agreements, rights, powers, standards, terms, covenants, and <br />obligations contained in this Agreement shall be binding upon the <br />parties and their respective heirs, successors, and assignees, <br />devises, administrators, representatives, lessees, and all other <br />persons acquiring the Property, or any portion thereof, or any <br />interest therein, whether by operation of laws or in any manner <br />whatsoever, and shall inure to the benefit of the parties and <br />their respective heirs, successors and assignees. <br />17. Amendment. <br />17.1 General. Except as otherwise provided in this <br />Agreement, this Agreement may be canceled, modified or amended <br />only by mutual consent of the parties in writing, and then only <br />in the manner provided for in Government Code Section 65868. Any <br />amendment to this Agreement which does not relate to the term, a <br />material element of the Project or the Conditions shall require <br />the giving of notice pursuant to Government Code Section 65867, <br />as specified by Section 65868 thereof, but shall not require a <br />public hearing before the Parties may make such amendment. <br />17.2 Recordation. Any amendment of this Agreement <br />shall be recorded by the city Clerk not later than ten (10) days <br />15-