6B(1)&(2) - Laserfiche WebLink

Home Browse Search

LMREC III Holdings III, Inc. 350 South Beverly Drive, Suite 300 Beverly Bills, CA 90212 Attention: Asset Management Facsimile No: (310) 234 -2150 with a copy to: Safarian Choi & Bolstad, LLP 555 South Flower Street, Suite 650 Los Angeles, CA 90071 Attention: Chris IC Safarian, Esq. Facsimile: (213) 225 -1146 Any and all notices given hereunder shall be given in accordance with Section 17(g) of the Easement. The Undersigned Party confirms that its notice address remains as set forth in Section 17(g) of the Easement, as amended. Lender Cure Right. The Undersigned Patty covenants and agrees that it may not exercise any remedy upon any default, failure, violation or breach of the Easement by Jenna ("Default'), without first providing Lender with written notice of such Default and an opportunity to cure the Default in accordance with the terms of this paragraph. In the case of any failure to pay any amount as and when due under the Easement, Lender shall have until the later of: (x) the expiration of any cure period available to Jenna under the Easement, or (y) fifteen (15) days after Lender's receipt of written notice of such Default from the Undersigned Party, to cure or cause to be cured such Default. In the case or any other Default (a "Non- Payment Default "), Lender shall have until the later of (a) the expiration or any cure period available to Lessee under the Easement, or (b) thirty (30) days after Lender's receipt of written notice of such Default from the Undersigned Party, to cure or cause to be cured such Default; provided that in the case of any Non - Payment Default, if Lender elects in a writing to cure such Default within such thirty (30) day period, but is not practicably able to cure such Default within such thirty (30) day period, because Lender needs to obtain possession of the property encumbered by the LMREC Mortgage in order to effectively cure the same or otherwise, then Lender shall have such additional time as it may need, exercising all commercially reasonable diligence, to cure such Default. This certificate may be relied upon and shall inure to the benefit of Jenna and Lender and their respective successors, assigns, title companies and lenders, and shall be binding upon the undersigned and its successors and assigns. [Signature Page to Follow] 4