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187027v7 I. Default. The occurrence of any of the following shall be considered an “Event of Default” in the terms and conditions contained in this Agreement: 1. Failure of Developer to comply with any of the terms and conditions contained in this Agreement if Developer fails to correct such failure within thirty (30) days after receiving written notice of such failure from the City, or if such failure cannot be reasonably cured within such thirty (30) day period, then the failure of the Developer to promptly commence the correction of such failure or to complete the correction of such failure within a reasonable period of time. 2. The failure of Developer to comply with any applicable ordinance or statute with respect to the development of the Property, and the failure to correct such non- compliance within thirty (30) days after receipt of written notice from the City. J. Remedies. Upon the occurrence of any Event of Default, the City, in addition to any other remedy which may be available to it, shall be permitted to do any of the following: 1. City may make advances or take other steps to cure the default, and, where necessary, enter the Property for that purpose. Developer shall pay all reasonable sums so advanced or reasonable expenses incurred by the City, upon demand, with interest from the dates of such advances or expenses at the rate of 10 percent per annum. No action taken by the City pursuant to this section shall be deemed to relieve Developer from curing any such default to the extent that it is not cured by the City or from any other default hereunder. The City shall not be obligated, by virtue of the existence or exercise of this right, to perform any such act or cure any such default. Developer shall save, indemnify, and hold harmless, including reasonable attorney fees, the City from any liability or other damages which may be incurred as a result of the exercise of the City's rights pursuant to this section, other than if arising, in whole or in part, because of the City’s negligence or willful misconduct. 2. Obtain an Order from a Court of competent jurisdiction requiring Developer to specifically perform its obligations pursuant to the terms and provisions of this Agreement. 3. Exercise any other remedies which may be available to it including an action for damages (excluding indirect, special, consequential or punitive damages). 4. Withhold the issuance of any or all building permits and/or prohibit the occupancy of all building(s) for which permits have been issued.