Laserfiche WebLink
<br />DRAFT <br /> <br />K, <br /> <br />. <br /> <br />Default. The occurrence of any of the following shall be considered an "event <br />of default" in the tenns and conditions contained in this Agreement: <br /> <br />1. Failure of the Guidant to comply with any of the tenns and conditions <br />contained in this Agreement within thirty (30) days of receipt of notice <br />from the City. <br /> <br />2. The failure of the Guidant to comply with any applicable ordinance or <br />statute with respect to the development of the Property within thirty <br />(30) days of receipt of notice from the City. <br /> <br />L. Remedies. Upon the occurrence of any event of default, the City, in addition <br />to any other remedy which may be available to it, shall be pennitted to do any <br />of the following: <br /> <br />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 interest 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 or <br />from any other default hereunder. The City shall not be obligated, by <br />virtue of the existence or exercise of this right, to perform any such act <br />or cure any such default. The Guidant shall save, indemnify, and hold <br />harmless, including reasonable attomey fees, the City from any liability <br />or other damages which may be incurred as a result of the exercise of <br />the City's rights pursuant to this section. <br /> <br />2, Obtain an Order from a Court of competent jurisdiction requiring the <br />Guidant to specifically perfonn its obligations pursuant to the tenns <br />and provisions of this Agreement. <br /> <br />1. <br /> <br />. <br /> <br />3. Exercise any other remedies which may be available to it including an <br />action for damages. <br /> <br />4, Withhold the issuance of any or all building permits and/or prohibit the <br />occupancy of all building(s) for which permits have been issued. <br /> <br />5, In addition to the remedies and amounts payable as set forth herein, <br />upon the occurrence of an event of default, the Guidant shall pay to <br />the City all fees and expenses, including reasonable attomey, <br />engineering and consulting fees, incurred by the City as a result of the <br />event of default, whether or not a lawsuit or other action is fonnally <br />taken. <br /> <br />e <br /> <br />6 <br />