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Friday, July 15, 2005 ( e) The City shall cooperate with the Redeveloper in preparing, applying for, and obtaining grants from public or private granting agencies. ***************** ARTICLE VIII EVENTS OF DEFAULT Section 8.1. Redeveloper Events of Default. Subject to Unavoidable Delays, the following are Events of Default of the Redeveloper: (a) Failure to submit the Concept Plan in accordance with Section 5.6, (b) Failure to commence or complete construction of the Public. Site or Minimum Improvements pursuant to the terms. conditions and limitations of Article V. (c) I Failure to substantially observe or perform any other covenant, condition, obligation 4r agreement ofthe Redeveloper hereunder, or (d), Prior to completion of the Project, the Redeveloper shall: (i) file any peti- tion in bankruptcy or for any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the United States Bankruptcy Code or un- der any similar federal or state law; (ii) make an assigrunent for the benefit of its credi- tors; (iii) admit in writing its inability to pay its debts generally as they become due; or (iv) be adjudicated as bankrupt or insolvent, or if a petition or answer proposing the adju- dication of the Redeveloper as a bankrupt or proposing its reorganization under any pre- sent or future federal bankruptcy act or any similar federal or State law shall be filed in any court and such petition or answer shall not be discharged or denied within ninety (90) days after the filing thereof, or a receiver, trustee or liquidator of the Redeveloper or of the Redevelopment Property, or part thereof shall be appointed in any proceeding brought against the Redeveloper and shall not be discharged within ninety (90) days after such appointment, or ifthe Redeveloper shall consent to or acquiesce in such appointment. ************** Section 8.3. City Remedies on Default. Whenever any Event of Default referred to in Section 8.1 occurs, the City may take anyone or more of the following actions after providing thirty (30) days' written notice to the Redeveloper of the Event of Default (ex- cept that no notice to the Redeveloper is required on or after the occurrence of an event described in Section 8.1(d)(i) or (iv)), but only if the Event of Default has not been cured within said thirty (30) days, or if the Event of Default is not reasonably susceptible to be- ing cured within said thirty (30)-day period (whether due to Unavoidable Delays or oth- erwise), and the Redeveloper fails to provide the City with written assurances, deemed satisfactory in the reasonable discretion of the City, that the Event of Default will be cured as soon as reasonably possible: 2