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value of the property at the time of the cancellation without regard to any restriction imposed <br />pursuant to this Agreement. <br /> <br /> b. If the Historic Property is destroyed by earthquake, fire, flood or other natural disaster <br />such that in the opinion of the City Building Official more than sixty (60) pement of the original <br />fabric of the structure must be replaced, this Agreement shall be canceled because, in effect, the <br />historic value of the structure will have been destroyed. No fee shall be imposed in the case of <br />destruction by acts of God or natural disaster. <br /> <br /> c. If the Historic Property is acquired by eminent domain and the City Council <br />determines that the acquisition frustrates the purpose of this Agreement, this Agreement shall be <br />cancelled and no fee imposed, as specified in Government Code Section 50288. <br /> <br />6. Enforcement of Agreement. <br /> <br /> a. In lieu of and/or in addition to any provisions to cancel the Agreement as referenced <br />herein, the City may specifically enfome, or enjoin the breach of, the terms of the Agreement. In <br />the event of a default, under the provisions to cancel the Agreement by the Owners, the City <br />shall give written notice to the Owners by registered or certified mail, and if such a violation is <br />not corrected to the reasonable satisfaction of the Deputy City Manager for Development <br />Services or designee within thirty (30) days thereafter, or if not corrected within such a <br />reasonable time as may be required to cure the breach or default, or default cannot be cured <br />within thirty (30) days (provided that acts to cure the breach or default may be commenced <br />within thirty (30) days and shall thereafter be diligently pursued to completion by the Owners), <br />then the City may, without further notice, declare a default under the terms of this Agreement <br />and may bring any action necessary to specifically enforce the obligations of the Owners <br />growing out of the terms of this Agreement, apply to any court, state or federal, for injunctive <br />relief against any violation by the Owners or apply for such relief as may be appropriate. <br /> <br /> b. The City does not waive any claim of default by the Owners if the City does not <br />enforce or cancel this Agreement. All other remedies at law or in equity which are not otherwise <br />provided for in this Agreement or in the City's regulations governing historic properties are <br />available to the City to pursue in the event that there is a breach of this Agreement. No waiver by <br />the City of any breach or default under this Agreement shall be deemed to be a waiver of any <br />other subsequent breach thereof or default hereunder. <br /> <br />7. Binding effect of Agreement. <br /> <br /> a. The Owners hereby subject the Historic Property, located at 2009 North Victoria <br />Drive, Assessor Parcel Number, 002-151-13, and more particularly described in Exhibit A, in the <br />City of Santa Aha, to the covenants reservations, and restrictions as set forth in this Agreement. <br /> <br /> b. The City and Owners hereby declare their specific intent that the covenants, <br />reservations and restrictions as set forth herein shall be deemed covenants running with the land <br />and shall pass to and be binding upon the Owners' successors and assigns in title or interest to <br />the Historic Property. Every contract, deed, or other instrument hereinafter executed, covering <br />or conveying the Historic Property or any portion thereof, shall conclusively be held to have <br /> <br />-4- <br /> <br /> <br />