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<br />default. Owner may record the Letter in the Official Records of the County of <br />Orange. <br /> <br />6.3. Non..compllance. If, after the City conducts the Annual Review, City finds that <br />Owner is not in good faith compliance under this Agreement, City shaN provide <br />Owner with a notice specifically stating the basis of the default and invo.king the <br />procedures set forth In Sectton7 .3 below. <br /> <br />'-" <br /> <br />6.4. Failure of Periodic Review. Cltÿs failure to review at leastannuaUy Owner's <br />compliance with the terms and conditions of this Agreement shall not constitute <br />or be asserted by any party as a breach of the Agreement by Owner or City. <br /> <br />7. DEFAULT. <br /> <br />7.1. Events 01 Defau't. Owner is In default under this Agreement (an "OWner <br />Defaulr) If: <br /> <br />a. Upon completion of the Annual Review. the Cltyftnds that there is <br />substantial evidence that Owner is not in good faith compliance with one or <br />more of the terms or conditions of this Agreement; or <br /> <br />b. OWner's development of the Project is not in compliance with the existing <br />Approva's. <br /> <br />7.2. City Default. The City is in default under this Agreement if it fails to perform <br />any act required of it under this Agreement (a -City Defaulr). <br /> <br />......, <br /> <br />7.3. Procedure upon Owner Default. <br /> <br />8. Upon the occurrence of an Owner Default. City shall give Owner written <br />notice specifying the nature of the alleged Owner Default, the manner in <br />which the OWner Default may be satisfactorily cured, and a reasonable <br />time In which the Owner Default may feasibly be cured (the .Cure Period"). <br />The City shall schedule a hearing before the City Council within 20 days <br />after the end of the Cure Period (the *Default Hearingj at whiçh Owner <br />may either challenge the finding of an Owner Default, demonstrate that the <br />cure is complete, and/or demonstrate good faith effort toward curs and <br />request reasonable additional time in which to complete the cure (which <br />request shall not be denied by the City). <br /> <br />b. If the CityCounciJ finds, on the basis of substantial evidence, that the <br />OWner Default has not been and cannot be cured in a reasonable manner. <br />City may terminate this Agreement. <br /> <br />c" Non-performance shall not be excused because of a failure of a third <br />person. <br /> <br />,-,. <br /> <br />Ordinance No. NS-2657 <br />Page 12 of 20 <br />