Laserfiche WebLink
priority to the lien of the mortgage held by such Mortgagee or Leasehold <br /> Mortgagee (provided, that this clause (A) shall not apply to Impositions <br /> defined in Article I above), and (B) past non-monetary obligations then <br /> in default and not reasonably susceptible of being cured by such <br /> Mortgagee or Leasehold Mortgage;and <br /> (ii) If not enjoined or stayed, take steps to acquire or sell Redeveloper's <br /> interest in the Police Facility, the Police Facility Site or the Police <br /> Facility Lease by foreclosure of the Mortgagee or Leasehold Mortgage or <br /> other appropriate means and prosecute the same to completion with due <br /> diligence. <br /> (b) If, at the end of such six (6) month period, such Mortgagee and%or Leasehold <br /> Mortgagee is complying with Section 14.8(a), this Agreement shall not then <br /> terminate, and the time for completion by such Mortgagee or Leasehold <br /> Mortgagee of its proceedings shall continue so long as such Mortgagee or <br /> Leasehold Mortgagee is enjoined, stayed or delayed and thereafter for so long as <br /> such Mortgagee or Leasehold Mortgage proceeds to complete steps to acquire or <br /> sell Redeveloper's interest in this Agreement or Lease by foreclosure of the <br /> Mortgage or Leasehold Mortgage or by other appropriate means with reasonable <br /> diligence and continuity. Nothing in this Section 14,8, however, shall be <br /> construed to extend this Agreement or Lease beyond the original terms thereof as <br /> extended by any options to extend the terms of this Agreement or Lease properly <br /> exercised by Redeveloper or a Mortgagee or Leasehold Mortgagee in accordance <br /> with Article XIV, nor to require a Mortgagee or Leasehold Mortgagee to <br /> continue such foreclosure proceedings after the default has been cured. If the <br /> default shall be cured and the Mortgagee or Leasehold Mortgagee shall <br /> discontinue such foreclosure proceedings, this Agreement and/or Lease shall <br /> continue in full force and effect as if Redeveloper had not defaulted under this <br /> Agreement/or Police Facility Lease. <br /> (c) If a Mortgagee or Leasehold Mortgagee is complying with Section 14.8(a), upon <br /> the acquisition of Redeveloper's interest in the Police Facility, the Police Facility <br /> Site or the Police Facility Lease herein by such Mortgage and/or Leasehold <br /> Mortgage or its designee or any other purchaser at a foreclosure sale or otherwise <br /> and the discharge of any lien, charge or encumbrance against the Redeveloper's <br /> interest in this Agreement or Police Facility Lease of the demised premises which <br /> is junior in priority to the lien of the Mortgagee or Leasehold Mortgage held by <br /> such Mortgagee or Leasehold Mortgagee and which the Redeveloper is obligated <br /> to satisfy and discharge by reason of the terms of this Agreement or Police <br /> Facility Lease, this Agreement or the Police Facility Lease shall continue in full <br /> force and effect as if Redeveloper had not defaulted under this Agreement or <br /> Police facility Lease. <br /> (d) For the purposes of this Article 14: (i) the making of a Mortgagee or Leasehold <br /> Mortgage shall not be deemed to constitute an assignmentor transfer of this <br /> Agreement or the Police Facility Lease or of the Leasehold Estate hereby created, <br /> (ii) nor shall any Mortgagee or Leasehold Mortgagee, as such, be deemed to be <br /> an assignee or transferee of this Agreement or Lease or of the Leasehold Estate <br /> hereby created, so as to require such Mortgagee or Leasehold Mortgagee as such, <br /> 24 <br />