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<br />1/ a' I 9 2002 12 3lPM <br /> <br />No 2730 P 12/20 <br /> <br />Section 8.2 .Pavment .Procedure. The City shall pay the Redeveloper the Ryan Fees _ <br />which are due and payable by the City as provided in Section 81 hereof within thirty (30) days .. <br />after receipt of an mvoice from the Redeveloper. <br /> <br />Section 8.3 Consideration for Exclusivitv. The Redeveloper's advice and consultation <br />provided to the City to date and its services under this Agreement are the consideration for the <br />City negotiating exclusively with the Redeveloper for the redevelopment of the Redevelopment <br />Property as provided in this Agreement. <br /> <br />Section 8.4 Survival. The City's obligations under Article VIII and Article IX shall <br />survive the temJination ofthis Agreement. <br /> <br />ARTICLE IX <br /> <br />EVENTS OF DEFAULT <br /> <br />Section 9.1 Default. The following shall be "Events of Default" under this Agreement <br />and the term "Event of Default" shall mean, whenever it is used in this Agreement (unless the <br />context otherwise provides), anyone or more ofthe following events: <br /> <br />(a) <br /> <br />failure by Redeveloper or the City to pay when due any payments required to be <br />paid; <br /> <br />. <br /> <br />(b) <br /> <br />subject to Unavoidable Delay, failure by Redeveloper or the City to observe and <br />substantially perform any covenant, conditions, obligation, or agreement on its <br />part to be observed or p~formed hereunder, except as provided in subparagraph <br />Ua" above; <br /> <br />(c) if Redeveloper or the City shall file a petition in bankruptcy, or shall make an <br />assignment for the benefit of creditors; <br /> <br />(d) if Redeveloper or the City shall file a petition or answer seeking reorganization or <br />arrangement under federal bankruptcy laws; or <br /> <br />(e) if Redeveloper or the City, on a petition in bankruptcy filed against it, shall be <br />adjudicated a bankrupt, or a court of competent jurisdiction shall enter an order of <br />decree appointing, without the consent of Redeveloper or the City, as the case <br />may be, a receiver of Redeveloper or the City or of the whole or substantially all <br />of its property, or approve a petition filed against Redeveloper or the City, as the <br />case may be, seeking reorganization or arrangement of Redeveloper or the City, <br />as the case may be, under bankruptcy laws, and such adjudication, order, or <br />decree shall not be vacated or set aside or stayed within sixty (60) days from the <br />date of entry thereof. <br /> <br />e <br /> <br />9 <br />