CCP 06-15-1992 - Laserfiche WebLink

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.c OiiJ admits in writing its inability to pay its debts generally as they become due; or (iv) is adjudicated bankrupt or insolvent. Section 8,2. Remedies on Default. Whenever any Event of Default referred to In Section 8.1 of this Agreement occurs, the City may take any one or more of the following actions after providing thirty days written notice to the Developer of the Event of Default, but only if the Event of Default has not been cured within said thirty days, or if the Event of Default is incapable of being cured within said thirty days, the Developer does not furnish the City with assurances, reasonably satisfactory to the City, that the Event of Default will be cured and will be cured as soon as reasonably possible: (a) Suspend its performance under the Agreement until it receives assurances from the Developer, deemed adequate by the City, that the Developer will cure its default and continue its performance under the Agreement. (b) Terminate the Agreement. (c) Withhold the Certificate of Completion. . (d) Take whatever action, including legal or administrative action, which may appear necessary or desirable to the City, including any actions to collect any payments due under this Agreement, or to enforce performance and observance of any obligation, agreement, or covenant of the Developer under this Agreement. Section 8.3. No Remedy Exclusive. No remedy here in conferred upon or reserved to the City is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to ~ a waiver the reo f , but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the City or the Developer to exercise any remedy reserved to it, it shall not be necessary to give notice, other than such notice as may be required in this Article VIII, Section 8.4. No Additional Waiver Implied bv One Waiver. In the event any agreement contained in this Agreement should be breached by either party and thereafter waived by the other party, such waiver shall be li~ited to the particular breach so waived and . shall not be- deemed to waive any other concurrent, previous or subsequent breach hereunder. 20