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ARTICLE VI <br />DEVELOPER'S OPTION TO TERMINATE AGREEM&IT <br />Section 6.1 The Developer's option to Terminate. This <br />Agreement may be t:_e inated by Developer, if i the Developer <br />is in compliance with all material terms of this Agreement and <br />no Event of Default has occurred; and (ii) the City fails to <br />comply with any material term of this Agreement, and, after <br />written notice by the Developer of such failure, the City has <br />failed to cure such noncompliance within ninety (90) days of <br />receipt of such notice, or, if such noncompliance cannot <br />reasonably be cured by the City within ninety (90) days, or <br />receipt of such notice, the City has not provided assurances, <br />reasonably satisfactory to the Developer, that such non- <br />compliance will be cured as soon as reasonably possible. <br />Section 6.2 Action to Terminate. Termination of this <br />Agreement pursuant to Section 6.1 must be accomplished by <br />written notification by the Developer to the City within thirty <br />(30) days after the date when such option to terminate may <br />first be exercised. A failure by the Developer to terminate <br />this Agreement within such period constitutes a waiver by the <br />Developer of its rights to terminate this Agreement due to such <br />occurrence or event. <br />Section 6.- Effect of Termination. If this Agreement is <br />terminated pursuant to this Article VI, this Agreement shall be <br />from such date forward null and void and of no further effect; <br />provided, however, the termination of this Agreement shall not <br />affect the rights of either party to institute any action, <br />claim or demand for damages suffered as a result of breach or <br />default of the terms of this Agreement by the other party, nr <br />to recover amounts which had accrued and become due and payable <br />as of the date of such termination. Upon termination of this <br />Agreement pursuant to this Article VI, and the Developer shall <br />be free to proceed with the Project at its own expense and <br />without regard to the provisions of this Ayreement; provided, <br />however, that the City shall have no further obligations to the <br />Developer with respect to reimbursement of the expenses of the <br />Public Improvements. <br />17 <br />