CCP 06-15-1992 - Laserfiche WebLink

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. L ARTICLE VIII . of Default Events Section 8,1. Events of Default Defined. The following shall be "Events of Default" under this Agreement and the term "Event of Default" shall mean, whenever it is used in this Agreement (unless the context otherwise provides), anyone or more of the following events: (a) Failure by the Developer to pay when due or to provide when required any payments required to be paid or provided under "- this Agreement. (b) Failure by the Developer to provide and maintain any insurance required to be provided and maintained by Section 4.1 of this Agreement or failure by the Developer to reconstruct -the Minimum Improvements when required pursuant to Section 4.1 of this Agreement. (c) Failure by the Developer to submit a commitment for financing to the City in a timely manner pursuant to the terms and conditions of Section 6.1 of this Agreement. (d) Failure by the Developer to commence and complete \ construction of the Minimum Improvements pursuant to the terms, . conditions and limitations of Article III of this Agreement. (e) Failure by the Developer to observe or perform any covenant, condition, obligation or agreement on its part to be observed or performed hereunder. ( f) The Holder of any Mortgage exercises any remedy provided by the Mortgage documents or exercises any remedy provided by law or equity in the event of a default in any of the terms or conditions of the Mortgage, and fails to accept Developer's responsibility hereunder as provided in Section 6.4 of this Agreement, 'g) Failure of the Developer to submit satisfactory Construc- tion Plans in accordance with Section 3.2 of this Agreement. ( h) The Developer or the Developer's general partner: (i) files any petition in bankruptcy or for any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any state or federal bankruptcy law; (ii) makes an assignment for the benefit of its creditors; . 19