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MINIMUM <br />16. DEFAULTS AND REMEDIES <br />16.1 Events of Default. The occurrence of any of the following, whatever the <br />reason therefore which is not cured, shall constitute an Event of Default by Developer: <br />(a) Developer fails to perform any obligation for the payment of <br />money under this Agreement, and such failure is not cured within ten (10) Business Days <br />after Developer's receipt of written notice that such obligation was not performed when <br />due; <br />(b) Developer fails to perform any obligation (other than the <br />obligations described in subparagraph (a) above) under this Agreement, and such failure is <br />not cured within thirty (30) days after Developer's receipt of written notice that such <br />obligation was not performed; provided that, if cure cannot reasonably be effected within <br />such thirty (30)-day period, such failure shall not be an Event of Default so long as <br />Developer (in any event, within ten (10) Business Days after receipt of such notice) <br />commences to cure, and thereafter diligently (in any event within ninety (90) days after <br />receipt of such notice) prosecutes such cure to completion; <br />(c) Any representation or warranty in this Agreement proves to <br />have been incorrect in any material respect when made; <br />(d) The Property is materially damaged or destroyed by fire or <br />other casualty unless Developer fulfills the Restoration Conditions set forth in the <br />insurance provisions of this Agreement within one hundred eighty (180) days (unless <br />extended pursuant to Section 19.5) and thereafter diligently restores the Property in <br />accordance with this Agreement; <br />(e) Work on the construction ceases for thirty (30) consecutive <br />days for any reason (other than governmental orders, decrees or regulations, acts of God or <br />any other deity, strikes or other causes beyond Developer's reasonable control); <br />(f) Developer is enjoined or otherwise prohibited by any <br />Governmental Authority from constructing and/or occupying the Improvements and such <br />injunction or prohibition continues unstayed for sixty (60) days or more for any reason; <br />(g) Developer is dissolved, liquidated or terminated, or all or <br />substantially all of the assets of Developer are sold or otherwise transferred without the <br />City Project Manager's prior written consent; <br />(h) Developer is the subject of an order for relief by a bankruptcy court, <br />or is unable or admits its inability to pay its debts as they mature, or makes an assignment <br />for the benefit of creditors; or Developer applies for or consents to the appointment of any <br />receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or <br />any part of its property; or any receiver, trustee, custodian, conservator, liquidator, <br />rehabilitator or similar officer is appointed without the application or consent of Developer <br />and the appointment continues undischarged or unstayed for ninety (90) days; or Developer <br />26 <br />