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6 192567v3 be strictly extrude for or against any party. Each party agrees that any action arising out of or in connection with this Agreement shall be brought solely in the courts of the State of Minnesota, Second Judicial District, or the United States District Court for the District of Minnesota. 9. EVENT OF 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. 10. REMEDIES. Upon the occurrence of an 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. CSM shall pay all sums so advanced, or expenses incurred by the City, upon demand, with interest from the dates of such advances or expenses at the rate of ten percent (10%) per annum or the maximum amount permitted by law if less than ten percent (10%). If no action taken by the City pursuant to this section shall be deemed to relieve CSM from curing any such defaults 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. CSM shall save,