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ASSIGNMENT OF CONSTRUCTION/ARTHITECT'S CONTRACTS 16. (2)
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2040 Wayzata Boulevard West - 34-118-23-21-0036 - (Orono HRA)
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Dunbar Sr. Hsg. - Finance Doc's - Mike Gaffron File Cabinet 1
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ASSIGNMENT OF CONSTRUCTION/ARTHITECT'S CONTRACTS 16. (2)
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Last modified
8/22/2023 4:55:39 PM
Creation date
10/4/2021 10:36:45 AM
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x Address Old
House Number
2040
Street Name
Wayzata
Street Type
Boulevard
Street Direction
West
Address
2040 Wayzata Boulevard West
Document Type
Land Use
PIN
3411823210036
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6 The Contractor will give the Trustee a copy of any written notice of default <br /> given by the Contractor to the Company under the Construction Documents. <br /> 7 The Contractor will not terminate any of the Construction Documents on <br /> account of any default of the Company thereunder without written notice of such default to the <br /> Trustee and providing the Trustee thirty(30)days to cure the default or to assume the payment <br /> obligations of the Company under the applicable Construction Documents and commence <br /> completion of construction of the Project. In the event the Trustee so elects to complete the <br /> Project, the Contractor will not terminate any of the Construction Documents so long as the <br /> default of the Company thereunder is cured by the Trustee within thirty(30) days after written <br /> notice of such default is given to the Trustee and, in such event,provided that the Trustee shall <br /> pay the Contractor for all costs and expenses suffered or occurred by the Contractor in <br /> connection with re-commencement of the Work. However, nothing herein shall require the <br /> Trustee to cure any default of the Company under and of the Construction Documents. <br /> 8 The undersigned, on behalf of the Contractor, hereby certifies that the <br /> Contractor has full power under all state and local laws and regulations to perform its obligations <br /> under the Construction Documents with the Company in accordance with the terms thereof and <br /> that the Contractor will comply with all applicable laws and regulations,local,state and federal, <br /> in performing such obligations. Upon completion of the Work,the Contractor will certify to the <br /> Trustee, and to any assignee of the Trustee's obligations under the Indenture,that the Work has <br /> been completed in accordance with the Plans. <br /> [Remainder of Page Intentionally Blank] <br /> 2 <br />
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