It provides a 'cure period' in which he will need to have the person not on the lease vacate or that you will proceed with eviction against HIM as the tenant. 

In the meantime, I certainly agree with many of your statements, like #1, but I think I can cure it

We were to close two days ago, all conditions had been met, walk throughs performed, and at 4:30pm the day of closing the agent submitted a Notice to Cure of a trim piece on a door that the painter missed from two weeks ago or they wouldn't close.

Wrap... we did hundreds of wraps.. and there is a DEED specific to these in CA.. called an All inclusive Deed of Trust.and in that document there is a notification provision that in the event that the first or underlying goes into default the junior ( buyer) is notified.. and further more there are provisions in that document to cure.. and to wipe out the sellers wrap equity if they are failing to make the payments on the Senior.. now frankly have not done one in years in CA..

I used to feel the same way if I wasn't saving at least $2000 a month I felt like I was 'losing' money too.Wanna know my cure?

People who peddle fake health cures are serving a "market need".  

Therefore.....i was COMPLETELY unaware or give the chance to cure the default in taxes! 

I typically purchased properties with ample equity from owners in default subject to their existing loans using credit card money to cure arrears.

The appraisal has to come back “As Is” with no cost to cure.

Fortunately for the homeowner I cured the first and sold the property (on sale the first was satisfied)- but I could have just the same cured the first and kept the property with the first lien in the previous owners name until of course the first lien holder chooses to enforce their due on sale clause.Oddly enough, if the first were current and the second takes the property to auction - there is case law/legal precedent that limits the first lien holders ability to enforce their due on sale clause.Either way - you can bid on a second lien at the courthouse steps and take title to the property, evict the previous owner, and proceed from that point.