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<br />. <br /> <br />. <br /> <br />. <br /> <br />Ija r ] 3 1002 11 33PM <br /> <br />No 2730 p. i3/20 <br /> <br />Section 9.2 Remedies on Default. Whenever any Event of Default referred to in <br />Section 9.1 of this Agreement occurs, the non-defaulting party may, but only after at least sIxty <br />(60) days notice for a non-monetary default and ten (10) days notice for a monetary default <br />setting forth the nature of the Event of Default from Redeveloper to the City, or from the City to <br />Redeveloper, as the case may be, and its failure to cure within said sixty (60) days or ten (10) <br />days, as the case may be, or such longer cure period for a non-monetary default if reasonably <br />required and the actions to cure have been taken and diligently pursued within such 60-day <br />period, find the other party in default (Default) and take anyone or more of the following <br />actions: <br /> <br />(a) Take whatever action at law that is necessary or desirable to collect any payments <br />due under this Agreement, including interest at the annual interest rate equal to <br />the prime rate of U.S. Bank National Association from time-to-time in effect plus <br />three percent (3%) on any amounts due under this Agreement from and after the <br />date they are due and payable by the City; <br /> <br />(b) Terminate this Agreement; provided, however, the obligations of the City to <br />reimburse the Redeveloper for the Ryan Fees as provided in Article VIII hereof <br />and Redeveloper's remedies hereunder to collect the Ryan Fees shall survive the <br />termination of this Agreement <br /> <br />The remedies set forth in this Article IX are the sole remedies of the parties to this Agreement, <br />and none of the parties shall have the right to pursue any other remedies, including, but not <br />limitcd to, the right to sue for damages, whether actual, indirect, consequential, or speculative. <br />No remedy herein conferred upon or reserved by the parties is intended to be exclusive of any <br />other available remedy or remedies as provided hereunder, but each and every such remedy shall <br />be cumulative and shall be in additiop to every other remedy given under this Agreement. <br />Except as provided in this Agreement, no delay or omission to exercise any right or power <br />accruing upon any default shall impair any such right or power or shall be construed to be a <br />waiver thercof, but any such right and power may be exercised from time to time and as often as <br />may be deemed expedient. In ord6r to entitle the City or Redeveloper to exercise any remedy <br />reserved to it, it shall not be necessary to give notice. other than such notice as may be required <br />in this Article lX. In the event any obligation contained in this Agreement should be breached <br />by either party and thereafter waived by the other party, such waiver shall be limited to the <br />particular breach so waived and shall not be deemed to waive any other concurrent, previous or <br />subsequent breach hereunder. <br /> <br />Section 9.3 Attornev's Fees. In the event a party defaults in the performance of the <br />obligations hereunder and a legal action is commenced to enforce the terms of this Agreement, <br />the prevailing party shall be entitled to payment of its reasonable attorneys' fees and costs by the <br />other party to the extent detennined by the court, including interest at the annual interest rate <br />equal to the prime rate of U.S. Bank National Association from time-to-time in effect plus three <br />percent (3%) on any amounts due under this Agreement from and after the date they are due and <br />payable by Redeveloper or the City, as the case may be. <br /> <br />10 <br />