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of the Property which either is owned by Developer or is subject to an easement or covenant <br />which allows its use for parking appurtenant to the school on the Property. <br />13. Default and Remedies. <br />(a) Developer shall be in default under this Second Amendment upon the <br />happening of one or more of the following events or conditions: <br />(i) If a material warranty, representation or statement made or <br />furnished by Developer to City is false or proves to have been false <br />in any material respect when it was made; <br />(ii) A finding and determination by the City Council made following a <br />periodic review under Government Code Section 65865.1 that <br />upon the basis of substantial evidence, Developer has not complied <br />in good faith with a material requirement of this Second <br />Amendment; or <br />(iii) An express repudiation, refusal or renunciation of this Second <br />Amendment, if the same is in writing and signed by Developer. <br />(b) City shall be in default under this Second Amendment if it shall: <br />(i) fail to comply in good faith with the requirements hereof regarding <br />the permitted development standards and uses specified herein, or <br />City's obligations under Section 12 hereof; or <br />(ii) expressly repudiate, refuse or renounce this Second Amendment in <br />writing. <br />(c) Notwithstanding any provision of this Second Amendment to the contrary, <br />except for Developer's default under subsection 13(a)(iii), above, Developer shall not be deemed <br />to be in default under this Second Amendment, and City may not terminate Developer's rights <br />under this Second Amendment, unless City shall have first delivered a written notice of any <br />alleged default to Developer, which shall specify the nature of such default. Except for <br />Developer's default under subsection 13(a)(iii), if such default is not cured by Developer within <br />ninety (90) days of service of such notice of default, or with respect to defaults which cannot be <br />cured within such period, Developer fails to commence to cure the default within sixty (60) days <br />after service of the notice of default, or thereafter fails to diligently pursue the cure of such <br />default until completion, City may terminate Developer's rights under this Second Amendment. <br />Upon the occurrence of a default by City, as described in subsection 13(b)(i), Developer may <br />give written notice to City specifying the nature of such default. If City has not cured such <br />default within (90) days of such notice, an event of default by City shall be deemed to have <br />occurred. The occurrence of a default by City under section 13(b)(ii), above shall, at the option <br />of Developer, and upon written notice to City, immediately constitute an event of default by <br />City. <br />SMRn:4830-4678-6704.6 -It- <br />