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CCP 06-15-1993
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CCP 06-15-1993
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<br /> . (c) Failure by the Developer to substantially observe or <br /> perform any other material covenant, condition, <br /> obligation or agreement on its part to be observed or <br /> performed under this Agreement; <br /> (d) Any representation made by the Developer herein is <br /> false or misleading in any material respect. <br /> 7.2 Remedies on Default bv DeveloDer. Whenever any Event <br /> of Default referred to in Section 7.1 occurs and is <br /> continuing, the city, may take any one or more of the <br /> following actions after (except in the case of an Event of <br /> Default under subsection (e) of Section 7.1) the giving of <br /> thirty (30) days written notice to the Developer of the <br /> Event of Default, but only if the Event of Default has not <br /> been cured within said thirty (30) days, and, if the <br /> Developer does not provide assurances to the city reasonably <br /> satisfactory to the City that the Event of Default will be <br /> cured as soon as reasonably possible. <br /> (a) The city may suspend its performance under this <br /> Agreement until it receives assurances from the <br /> Developer, deemed adequate by the City, that the <br /> Developer will cure its default and continue its <br /> performance under this Agreement; <br /> . (b) The city may cancel and rescind the Agreement; <br /> (c) The city may take any action in law or equity, <br /> including legal or administrative action, which may <br /> appear necessary or desirable to collect any payments <br /> due under this Agreement, recover damages or to enforce <br /> performance and observance of any obligation, <br /> agreement, or covenant of the Developer under this <br /> Agreement. <br /> 7.3 Events of Default bv city Defined. The following shall <br /> be Events of Default by the City under this Agreement: <br /> (a) Failure by the City to exercise reasonable efforts to <br /> fulfill its obligations under this Agreement, <br /> including, without limitation, the obligations of the <br /> City set forth in Article IV hereof; <br /> (b) Failure by the city to substantially observe or perform <br /> any other material covenant~ condition, obligation or <br /> agreement on its part to be observed or performed under <br /> this Agreement; <br /> . <br /> 11 <br /> ----------- ~~ <br />
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