Laserfiche WebLink
<br />C this Section or any other Section of this Agreement shall be deemed <br /> to permit or authorize such Holder, either before or after. <br /> foreclosure or action in lieu thereof, to undertake or continue the <br /> construction Or completion of the Minimum Improvements (beyond the <br /> extent nec~ssary to conserve or 'protect Minimum Improvements or <br /> construction already made) without first having expreslIly assumed <br /> the obligation to the City, by written agreement satisfactory to <br /> the Ci ty, to complete, in the manner provided in the Agreement, the <br /> Minimum Improvements on the Development Property or the part <br /> the reo f to which the lien or title of such Holder relates. Any <br /> such Holder who shall properly complete the Minimum Improvements <br /> relating to the Development Property or applicable part thereof <br /> sha 11 be ent i tJ.ed, upon written request made to the C r-ty, to a <br /> certification by the City to such effect in the manner provided in <br /> Section 3,4 of this Agreement. If the Holder elects to cure the <br /> default, as above stated, it will not be bound by the Developers <br /> equity requirements described in Section 6.2 of this Agreement. and <br /> further if the Holder completes the Minimum Improvements and the <br /> Certificate of Completion is granted, the lender, and any trans- <br /> fe ree of the lender (provided the transferee is approved by the <br /> City in accordance with Section 7. 2) will continue to receive tax <br /> increment assistance as provided in Section 5.3 of this Agreement. <br />\..J . <br />\.... . <br /> 15 <br />