10-22-2001 Council Packet - Laserfiche WebLink

Home Browse Search

Requirement shall apply only if there is a wailing list for available units. Except for the Senior I lousing Restriction and the Orono Preference Requirement it shall not discriminate upon the basis of race, color, creed, religion, anccsu>', national origin or sex. aflectional preference, disability, marital status or status with regard to public assistance, in the sale, lease, or rental or in the use or occupancy of the Development Property or any improvements erected or to be erected thereof thereon, or any pail thereof. ARTICLE 5 FINANCING 5.1 Mortgages. Tenant’s interest in this Lease, the Development Properly, the Improvements, or any combination thereof may be encumbered only as provided by the Financing Documents and the Development Agreement. 5.2 Notice. If any Holder registers with Landlord its name and address in writing by registered or certified mail, Landlord shall by registered or certified mail, return receipt requested, addressed as registered with Landlord, give such I lolder a copy of any notice or other communication with respect to any claim that a default exists or is about to exist under this Lease and a copy of any notice changing Landlord's address. Any notice given to a Holder shall be deemed duly ser\ ed when personally delivered to an officer of 1 lolder or mailed in accordance with Section 8.1 of this Lease. 5.3 Performance. If Tenant fails to make any payment or perfonn any act required of Tenant under this Lease, then any Holder may (but shall not be obligated to). to the extent permitted under its Mortgage, make such pa\’menl or perform such act with the same elTect as if made or performed by Tenant. Entr>- by a Holder upon the Development for such purpose or partial performance of the Mortgage shall not waive or release Tenant from any obligation or default under this Lease except for an obligation or default fully performed or cured by Holder. 5.4 New Lease. (a) If (i) this Lease is rejected or disalfirmed pursuant to bankruptcy law or other law alTecting creditor’s rights, (ii) Holder gives written request to Landlord not later than 30 thirty (30)days after the elTective date of such rejection or disaffirmance, (iii) Holder pays to Landlord all of Landlord’s expenses (including renscnable a’.tomeys’ fees) incidental thereto, and (iv) Holder pays ull Rent accrued as of the date of rejection or disaffirmance, then Landlord shall execute and deliver a new lease with Holder or its nominee, purchaser, assignee or transferee, as the case may be, for the remainder of the Term