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ARTICLE VII Events of Default Section 7.1. Events of Default Defined. The following shall be '!Events of Default" under this Agreement and the term "Event of Default" shall mean, whenever it is used in this Agreement (unless the context otherwise provides), any one or more of the following events: (a) Failure by the Redeveloper or City to pay when due the payments required to be paid under Article III of this Agreement. (b) Failure of the Redeveloper to submit satisfactory Construction Plans in accordance with Section 4.2 of this Agreement. (c) Failure by the Redeveloper to provide and maintain any insurance required to be provided and maintained by Section 5.1 of this Agreement. (d) Failure by the Redeveloper to commence and complete construction of the Minimum Improvement3 pursuant to the terms, conditions and limitations of Article IV of this Agreement. (e) Failure by the City to commence and complete construction of the Public Improvements pursuant to the term., conditions and limitations of this Agreement. (f) Failure by the Redeveloper or City to substantially observe or perform any covenant, condition, obligation or agreement on its part to be observed or performed hereunder. Section 7.2. Remedies on Default Whenever any Event of Default referred to in Section 7.1 of this Agreement o,�cur% the party not in default may take any one or more of the following actions after providing thirty days written notice to the party in default of the Event of Default, but only if the Event of Default has not been cured within said thirty days or, if the Event of Default cannot be cured within thirty days, the defaulting party does not provide assurances to the non - defaulting party reasonably satisfactory to the non -defaulting party that the Event of Default will be cured as soon as reasonably possible: (a) Suspend its performance under the Agreement, including not issuing a Certificate of Completion. (b) Cancel and rescind the Agreement. (c) 'Tale whatever action, including legal or administrative action, which may appear necessary or desirable to the non -defaulting party, including any actions to collect any payments due under this Agreement, or to enforce performance and observance of any obligation, agreement, or covenant of the defaulting party under this Agreement. (d) Exercise its right to re-enter and retake possession of the Redevelopment Property as permitted by the Redevelopment Property Deed, subject to Redeveloper's right to purchase the City's interest in the Redevelopment 16