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75A - 301 EAST JEANETTE LANE
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03/02/2009
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75A - 301 EAST JEANETTE LANE
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1/3/2012 4:23:09 PM
Creation date
2/24/2009 2:29:24 PM
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City Clerk
Doc Type
Agenda Packet
Item #
75A
Date
3/2/2009
Destruction Year
2014
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7.2 Procedure upon Default. <br />(1) Upon an Owner Event of Default, the City through the Executive Director <br />shall submit to Owner, a written notice of default, in the manner provided in Section 4.10 of the <br />Amended Agreement, identifying with specificity the nature of the alleged default and, when <br />appropriate, the manner in which said default maybe satisfactorily cured. Upon receipt of the <br />notice of default, the Owner shall cure the identified default(s) at the earliest reasonable time <br />after receipt of the notice of default and shall complete the cure in any event not later than one <br />hundred and twenty (120) days after receipt of the notice of default, or such longer period as is <br />reasonably necessary to remedy such default(s), provided that the Owner shall continuously and <br />diligently pursue such remedy at all times until such default(s) is cured. If Owner has failed to <br />remedy or diligently proceed to remedy such default(s) after proper notice and expiration of said <br />one hundred and twenty (120) day cure period or such extended period as provided herein, the <br />City may terminate or amend this First Amendment in accordance with the procedure adopted by <br />the City. Failure or delay in giving notice of default shall not constitute a waiver of any default, <br />nor shall it change the time of default. <br />(2) If after the cure period has elapsed, the Executive Director finds <br />and determines that Owner has not cured the default pursuant to this Section 7.2, Owner shall be <br />entitled to appeal that finding and determination to the City Council by filing an appeal with the <br />City Clerk, if at all, within fourteen (14) days after the mailing of such finding and determination <br />to Owner, or its successors, transferee, and/or assignees, as the case maybe. The City Council <br />shall act upon the finding and determination of the Executive Director within ninety (90) days <br />after the filing of such appeal. In the event of a finding and determination that all defaults are <br />cured, there shall be no appeal by any person or entity. <br />(3) The City does not waive any claim of defect in performance by <br />Property Owner, if on periodic review the City does not propose to modify or terminate this First <br />Amendment. <br />third person. <br />(4) Non-performance shall not be excused because of a failure of a <br />(5) An express repudiation, refusal, or renunciation of the contract, if <br />the same is in writing and signed by the Owner, shall be sufficient to terminate this First <br />Amendment and a hearing on the matter shall not be required. <br />(6) Adoption of a law or other governmental activity making <br />performance by the Owner unprofitable or more difficult or more expensive does not excuse the <br />performance of the obligation by the Property Owner. <br />(7) All other remedies at law or in equity which are not inconsistent <br />with the provisions of this First Amendment are available to the parties to pursue in the event <br />there is a breach. <br />it <br />75A-195 <br />
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