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<br />C. The Developer shall reimburse the City for costs incurred in the <br />enforcement of this Agreement or in making a claim against the Security, including engineering <br />and reasonable attorneys' fees. <br />D. The Developer shall pay, or cause to be paid whep. due, and in any event <br />before any penalty is attached, all special assessments referred to in this Agreement. This is a <br />personal obligation of the Developer and shall continue in full force and effect even if the <br />Developer sells one or more lots, the entire Plat, or any part of it. Assessments attributed to any <br />lot or parcel shall be due in full on sale and shall be paid on or before the closing of such sale. <br />E. The Developer shall pay in full all bills submitted to it by the City for <br />obligations incurred under this Agreement within thirty (30) days after receipt. If the bills are not <br />paid on time, the City may draw down the $10,000.00 escrow account, identified in Section 17 of <br />this Agreement, and may halt Plat development and construction until the bills are paid in full and <br />the escrow replenished to its original amount. Additionally, at its discretion, the City may draw <br />down the Security or Additional Security to pay overdue bills as set forth in Section 18 of this <br />Agreement. Bills not paid within thirty (30) days shall accrue interest at the rate of eighteen <br />percent (18%) per year. <br />23. DEVELOPER'S DEFAULT. In the event of default by the Developer as to any <br />of the work to be performed by it hereunder, the City may, at its option, perform the work and <br />the Developer shall promptly reimburse the City for any expense incurred by the City, provided <br />the Developer, except in an emergency as determined by the City, is first given notice of the <br />work in default as set forth in Section 19. This Agreement is a license for the City to act, and it <br />shall not be necessary for the City to seek a Court order for permission to enter the Plat. When <br />the City does any such work, the City may, in addition to its other remedies, assess the cost in <br />whole or in part as a lien against the Land and/or draw down the Security, at its sole discretion. <br /> <br />Banzal Development Agreement v91.docHarn1iaJ Diwele~mellt Agreemeat y98 <br /> <br />14 <br />