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Association, the Veterans Administration, the Small Business <br /> Administration, Farmers Home Administration, or any other <br /> Federal agency and their respective successors and assigns or <br /> any lending institution authorized to do business in the State <br /> of Hawaii or elsewhere in the United States; provided, that the <br /> consent to mortgage to a non-governmental holder shall not <br /> confer any greater rights or powers in the holder than those <br /> which would be required by any of these Federal agencies . <br /> 21 . Breach. Time is of the essence in this <br /> agreement . If the Lessee shall fail to pay the rent, or any part <br /> thereof, at the times and in the manner provided in this lease <br /> and this failure shall continue for a period of more than thirty <br /> (30) days after delivery by the Lessor of a written notice of <br /> breach or default and demand for cure, by personal service, <br /> registered mail or certified mail to the Lessee and to each <br /> holder of record having a security interest in the premises, or <br /> if the Lessee shall become bankrupt, or shall abandon the <br /> premises, or if this lease and premises shall be attached or <br /> taken by operation of law, or if any assignment is made of the <br /> Lessee ' s property for the benefit of creditors, or if Lessee <br /> shall fail to observe and perform any of the covenants, terms, <br /> and conditions contained in this lease and on its part to be <br /> observed and performed, and this failure shall continue for a <br /> period of more than sixty (60) days after delivery by the Lessor <br /> of a written notice of breach or default and demand for cure, by <br /> personal service, registered mail or certified mail to the <br /> Lessee at its last known address and to each holder of record <br /> having a security interest in the premises, the Lessor may, at <br /> once re-enter the premises, or any part, and upon or without the <br /> entry, at its option, terminate this lease without prejudice to <br /> any other remedy or right of action for arrears of rent or for <br /> any preceding or other breach of contract; and in the event of <br /> termination, at the option of the Lessor, all buildings and <br /> improvements shall remain and become the property of the Lessor <br /> or shall be removed by Lessee; furthermore, Lessor shall retain <br /> all rent paid in advance to be applied to any damages . <br /> 22 . Right of holder of record of a security interest. <br /> In the event the Lessor seeks to forfeit the privilege, <br /> interest, or estate created by this lease, each recorded holder <br /> of a security interest may, at its option, cure or remedy the <br /> default or breach of rent payment within thirty (30) days or any <br /> other default or breach within sixty (60) days, from the date of <br /> receipt of the Lessor' s notice, or within an additional period <br /> allowed by Lessor for good cause, and add the cost to the <br /> 8 <br />