Laserfiche WebLink
<br /> 1 . . <br /> , <br /> . ARTICLE V <br /> DEVELOPER'S OPTION TO TERMINATE AGREEMENT <br /> section 5.1 The Developer's option to Terminate. This <br /> Agreement may be terminated by Developer, if (i) the Developer is <br /> in compliance with all material terms of this Agreement and no <br /> Event of Default has occurred; and (U) the city fails to comply <br /> with any material term of this Agreement, and, after written <br /> notice by the Developer of such failure, the City has failed to <br /> cure such noncompliance within ninety (90) days of receipt of <br /> such notice, or, if such noncompliance cannot reasonably be cured <br /> by the City within-ninety (90) days, of receipt of such notice, <br /> the City has not provided assurances, reasonably satisfactory to <br /> the Developer, that such noncompliance will be cured as soon as <br /> reasonably possible. <br /> Section 5.2 Action to Terminate. Termination of this <br /> Agreement pursuant to Section 5.1 must be accomplished by written <br /> notification by the Developer to the city within thirty (30) days <br /> after the date when such option to terminate may first be <br /> exercised. A failure by the Developer to terminate this <br /> Agreement within such period constitutes a waiver by the <br /> Developer of its rights to terminate this Agreement due to such <br /> occurrence or event. <br /> - Section 5.3 Effect of Termination. If this Agreement is <br /> terminated pursuant to this Article V, this Agreement shall be <br /> from such date forward null and void and of no further effect; <br /> provided, however, the termination of this Agreement shall not <br /> affect the rights of either party to institute any action, claim <br /> or demand for damages suffered as a result of breach or default <br /> of the terms of this Agreement by the other party, or to recover <br /> amounts which had accrued and become due and payable as of the <br /> date of such termination. upon termination of this Agreement <br /> pursuant to this Article V, the Developer shall be free to <br /> proceed with the project at its own expense and without regard to <br /> the provisions of this Agreement; provided, however, that the <br /> City shall have no further obligations to the Developer with <br /> respect to reimbursement of the expenses set forth in Section <br /> 3.2. <br /> - <br /> -- <br /> -. <br /> 18499 <br /> 13 <br />