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THE CITY, FROM FUNDS OF THE DEVELOPER HELD IN THE ESCROW UPON ESCROW <br />CANCELLATION. RECEIPT OF THE PRE -CLOSING LIQUIDATED DAMAGES AMOUNT <br />SHALL BE THE CITY'S SOLE AND EXCLUSIVE REMEDY UPON THE CANCELLATION <br />OF THE ESCROW AND TERMINATION OF THIS AGREEMENT DUE TO THE <br />OCCURRENCE OF AN EVENT OF DEFAULT BY THE DEVELOPER UNDER THIS <br />AGREEMENT, PRIOR TO THE CLOSE OF ESCROW. <br />Initials of Authorized <br />City Representative <br />Initials or -Authorized <br />Developer Representative <br />9.3 DEVELOPER'S WAIVER OF RIGHT TO SPECIFIC PERFORMANCE <br />AND LIMITATION ON RECOVERY OF DAMAGES PRIOR TO CLOSE OF ESCROW. <br />9.3.1 THE DEVELOPER WAIVES ANY RIGHT TO MAINTAIN AN ACTION <br />AGAINST THE CITY FOR SPECIFIC PERFORMANCE OF ANY TERM OR PROVISION OF <br />THIS AGREEMENT, PRIOR TO THE CLOSE OF ESCROW, DURING THE CONTINUANCE <br />OF AN EVENT OF DEFAULT BY THE CITY, PRIOR TO THE CLOSE OF ESCROW, THE <br />DEVELOPER SHALL BE LIMITED TO RECOVERING ANY AMOUNTS ACTUALLY <br />EXPENDED BY THE DEVELOPER IN REASONABLE RELIANCE ON THIS AGREEMENT, <br />PRIOR TO THE DATE OF THE OCCURRENCE OF THE DEFAULT BY THE CITY, NOT TO <br />EXCEED AN AGGREGATE AMOUNT OF ONE HUNDRED THOUSAND DOLLARS <br />($100,000.00): THE DEVELOPER WAIVES ANY RIGHT TO RECOVER ANY OTHER <br />SUMS FROM THE CITY ARISING FROM A DEFAULT BY THE CITY, PRIOR TO THE <br />CLOSE OF ESCROW. THE DEVELOPER ACKNOWLEDGES. THE PROTECTIONS OF <br />CIVIL CODE SECTION 1542 RELATIVE TO THE WAIVERS AND RELEASES <br />CONTAINED IN THIS SECTION 9.3, WHICH CIVIL CODE SECTION READS AS <br />FOLLOWS: <br />A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS <br />WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO <br />EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING <br />THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST <br />HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT <br />WITH THE DEBTOR. <br />9.3.2 BY INITIALING BELOW, THE DEVELOPER KNOWINGLY AND <br />VOLUNTARILY WAIVES THE PROVISIONS OF SECTION 1542 SOLELY IN <br />CONNECTION WITH THE WAIVERS AND R S OF THIS SECTION 9.3. <br />Intl f Authorized <br />Developer Representative <br />9.4 Legal Actions. Following the Close of Escrow, either Party may institute legal <br />action to cure, correct or remedy any Default, to recover damages for any Default, or to obtain any <br />other remedy available to that Party under this Agreement, at law or in equity regarding any <br />46 <br />55394.00049\33239203.12 <br />