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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />�. <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />S. Default. In the event of default by the Developer as to any of the work to be performed by it <br />hereunder, the City may, at its option, perform the work and the Developer shall promptly reimburse <br />the City for any expense incurred by the City, provided the Developer is first given notice of the <br />work in default, not less than 48 hours in advance. This Agreement is a license for the City to act, <br />and it shall not be necessary far the City to seek a court order for permission to enter the Property. <br />When the City does any such work, the City may, in addition to its other remedies, assess the cost in <br />whole or in part, against the Developer and/or the Property. <br />T. Remedies. Upon the occurrence of a breach of this Agreement by the Developer, the City, in <br />addition to any other remedy which may be available to it shall be permitted to do the following: <br />L City may make advances or take other steps to cure the default, and where necessary, <br />enter the subject property for that purpose. The Developer shall pay all su�ns so <br />advanced or expenses incurred by the City upon demand, with interest from the date of <br />such advances or expenses at the rate of 10% per annum or the maximum allowed by <br />law, whichever is less. No action taken by the City pursuant to this section shall be <br />deemed to relieve the Developer from curing any such default or from any other default <br />hereunder. The City shall not be obligated, by virtue of the existence or the exercise of <br />this right, to perform any such act or cure any such default. <br />1� 2. The Developer shall defend, indemnify, and hold the City and its mayor, <br />19 councilmembers, employees, agents and contractors harmless from any liability or <br />2o damages, including reasonable attorneys fees, which may be incurred as a result of the <br />21 exercise of the City's rights pursuant to this Agreement. <br />22 3. Obtain an order from a court of competent jurisdiction requiring the Developer to <br />23 specifically perform its obligations pursuant to the terms and provisions of this <br />24 Agreement. <br />25 <br />26 <br />27 <br />2s <br />29 <br />30 <br />4. Obtain an arder from a court of competent jurisdiction enjoining the continuation of an <br />event of default. <br />5. Halt all development work and construction of improvements until such time as the event <br />of default is cured. <br />6. Withhold the issuance of a building permit and/or prohibit the occupancy of any <br />structure(s) for which permits have been issued. <br />31 7. Draw upon and utilize the Developer's Letter of Credit to cover the costs of the City in <br />32 order to correct the default, the costs to complete any uniinished Phase II Public <br />33 Improvements, the costs to draw on the Letter of Credit and/ ar the costs to enforce this <br />34 Agreement. <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />8. Terminate this Agreement by written notice to Developer at which time all terms and <br />conditions contained herein shall be of no further force or effect and all obligations of the <br />parties imposed hereunder shall null and void. <br />9. Exercise any other remedies which may be available to it at law or in equity. <br />Page 8 of 15 <br />