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r•�;�rryr��r:� <br />Events of D�fault <br />Section 9.1. Events of Default Defined. The foll4wing shall be "Events of Defaul#" under this <br />Agreement and the tertn "Even� oi Default" shaI� mean, whenever it is used in this Agraement (unIess the <br />corztex� otherwise provides), any failure by any party to observe ar perform any covenant, condition, <br />obligation or agree�x�.ent on its part to be observed ar performed uz�der this Agreement or the Land <br />Development Agreement, except a faiIure resulting fro�n an Unavoidable DeIay. <br />Section 9.2. Remedies on Default. Whenever any Event of Default referred to in Section 9.1 of <br />this Agreement occurs, the non-defaulting party may exercise iYs rights under this Section 9.2 after <br />providing �thirty days written notice to the defaulting party of the Event of DefauIt, but only if the Event of <br />Default has not been cured within said thirty days or, if the Event of DefaUlt is by its nature incurable <br />within thirEy days, the defaulting party does not provide assurances reasonably satis�actory to the non- <br />defaulting party that the Event of Default wiil be cured and will be cured as soon as reasonably possible: <br />(a) Suspend its performance under the Agreement, including withholding of payments on the <br />Nota, until it receives assurances that ihe defaulting party vvill cure its default and continue its <br />performance under the Agreement. <br />(b) Upon a default by the Developer, and after failure to cu:re within 360 days after notice <br />frorn the City (notwithstanding any ca�ttrary cure period described in this Section) the City may terminate <br />this Agreement, the Note and the TIF District. <br />(c} Take whatever action, including legal, equitable or administrative action, which �nay <br />appear necessary or desirable to collect any payments due under this Agreement, ar ta enforce <br />perfornaance and obsezvance of any oblzgatiorz, agreement, or covenant under this Agreement. <br />Section 9.3. No Remedv ExcIusive. No remedy herein conferred upon or reserved to the City or <br />Developer is intended to be exclusive of any other available remedy or remedies, but each and every such <br />remedy shalI be currtuIative and shall be in addition to eve�y other remedy given under this Ageeement or <br />now or hereafter existing at law or in equity or by stai�.rte. No deIay or omissfon ta exercise any right or <br />power accruing upon any default shall impair any such right or power or shaIl be construed to be a waiver <br />t�ereof, but any such right and power xnay be exercised frora time ta time and as often as may be deemed <br />expedient. �n. order to eniitle the City io e�ercise any renaedy reserved to it, it shall not be necessary to <br />give notice, other than such notice as may be required in this Article IX. <br />Section 9.4. No Addi�ionaI Waiver Implied bv One Waiver. In the event any agreement <br />contained in this Agreement should be breac�►ed by either party and thereafter waived by the other party, <br />such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any <br />other concurrent, previaus or subsequent breach hereunder. <br />(Th� rcmainder of this page is intentior�ally left blank.) <br />378990v6 S7B AR200-10 <br />2� <br />_ _ <br />