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<br />future owners of all or any part of the Guidant Property. This Agreement, . <br />at the option of the City, shall be placed of record so as to give notice <br />thereto to any subscquent purchasers and encumbrancers of all or any part <br />of the Guidant Property and all recording fees, if any, shall be paid by the <br />Guidant. <br /> <br />1. Incorporation bv Reference, All plans, special provisions, proposals, <br />specifications and contracts for the improvements furnished and let <br />pursuant to this Agreement shall be and hereby are made a part of this <br />Agreement by reference as if fully set out herein, <br /> <br />J. Default. The occurrence of any of the following shall be considered an <br />"event of default" in the terms and conditions contained in this Agreement: <br /> <br />I. Failure of the Guidant to comply with any of the terms and <br />conditions contained in this Agreement. <br /> <br />2. The failure of the Guidant to comply with any applicable ordinance <br />or statute with respect to the development of the Property. <br /> <br />K. <br /> <br />Remedies. Upon the occurrence of any event of default, the City, in <br />addition to any other remedy which may be available to it, shall be <br />permitted to do any of the following: <br /> <br />. <br /> <br />I, City may make advances or take other steps to cure the default, and, <br />where necessary, enter the Guidant Property for that purpose. The <br />Guidant shall pay all sums so advanced or expenses incurred by the <br />City, upon demand, with intercst from the dates of such advances or <br />expenses at the rate of 10% per annum, No action taken by the City <br />pursuant to this section shall be deemed to relieve the Guidant from <br />curing any such default to the extent that it is not cured by the City <br />or from any other default hereunder. The City shall not be obligated, <br />by virtue of the existence or exercise of this right, to perform any <br />such act or cure any such default. The Guidant shall save, <br />indemnify, and hold harmless, including reasonable attorney fees, <br />the City from any liability or other damages which may be incurred <br />as a result of the exercise of the City's rights pursuant to this section, <br /> <br />2, <br /> <br />Obtain an Order from a Court of competent jurisdiction requiring the <br />Guidant to specifically perform its obligations pursuant to the terms <br />and provisions of this Agreement. <br /> <br />. <br /> <br />5 <br />