Orange County NC Website
S1 <br />terms of this Agreement. If the Town is in Default, the Town shall <br />have the right to cure, end, or remedy the Default within 30 calendar <br />days after receipt of written notice to the Town specifying in detail <br />such Default and requesting the Town to cure, end, or remedy the <br />Default, provided, however, that, if the Default is not susceptible of <br />being cured within 30 calendar days despite the best efforts and due <br />diligence of the Town to cure, end, or remedy the Default, then the <br />Town shall be entitled to effect such cure, end, or remedy within such <br />time period as is- reasonable under the circumstances, provided that <br />the Town commences to cure, end, or remedy within such 30 -day period <br />and proceeds with its best efforts and due diligence in connection <br />therewith, and provided that the Corporation suffers no damage, loss, <br />cost, or expense from such efforts to cure, end, or remedy. The Town <br />t <br />shall document its efforts made to the reasonable satisfaction of the <br />Corporation, and the Corporation shall permit the Town to continue to <br />use its best efforts and all due diligence to cure, end, or remedy the <br />Default in the shortest time possible, not to exceed an additional 60 <br />calendar days under any circumstances, and provided that the <br />Corporation suffers no damage, loss, cost, or expense from such <br />efforts to cure, end, or remedy. If, after said cure period, the Town <br />has not cured, ended, or remedied the Default, the Corporation, at its <br />sole option and in addition to any other remedies allowed in law and <br />in equity, may require the Town, with or without terminating this <br />Agreement, to assign and /or convey, as the case may be, to the <br />Corporation all of its right, title, and interest in and to the <br />Low- income House(s) and all Shared Equity Agreements, Loan Documents, <br />other contracts, and Trust funds arising out of this Agreement to <br />MWX M <br />