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CITY COUNCIL DRAFT <br />address set forth in Section 22 hereof. The form, content and issuer of any certificate of insurance <br />approved by City. <br />15. DEFAULTS. <br />Failure or delay by either party to perform any term or provision of this Agreement which is not <br />cured within thirty (30) days after receipt of notice from the other party constitutes a default under <br />this Agreement; provided, however, that if such default is of the nature requiring more than thirty <br />(30) days to cure, the defaulting party shall avoid default hereunder by commencing to cure within <br />such thirty (30) day period, and thereafter diligently pursuing such cure to completion. The party <br />who so fails or delays must immediately commence to cure, correct or remedy such failure or <br />delay, and shall complete such cure, correction or remedy with diligence. The injured party shall <br />give written notice of default to the party in default, specifying the default complained of by the <br />injured party. Except as required to protect against further damages, the injured party may not <br />institute proceedings against the party in default until thirty (30) days after giving such notice. <br />Failure or delay in giving such notice shall not constitute a waiver of any default, nor shall it <br />change the time of default. <br />16. NON -WAIVER. <br />Failure to exercise any right City may have or be entitled to, in the event of default hereunder, <br />shall not constitute a waiver of such right or any other right in the event of a subsequent default. <br />17. FURTHER ASSURANCES. <br />Homebuyer shall execute any further documents consistent with the terms of this Agreement, <br />including documents in recordable form, as City shall from time to time find necessary or <br />appropriate to effectuate its purposes in entering into this Agreement. <br />18. GOVERNING LAW. <br />Homebuyer hereby agrees to comply with all ordinances, rules and regulations of City. Nothing <br />in this Agreement is intended to be, nor shall it be deemed to be, a waiver of any City ordinance, <br />rule or regulation. This Agreement shall be governed by the laws of the State of California. Any <br />legal action brought under this Agreement must be instituted in the Superior Court of the County <br />of Orange, State of California, or in the Federal District Court where the City is located. <br />19. AMENDMENT OF RESTRICTION. <br />No modification, rescission, waiver, release or amendment of any provision of this Agreement <br />shall be made except by a written agreement executed by Homebuyer and City. <br />20. CITY MAY ASSIGN. <br />City may, at its option, assign its rights hereunder without obtaining the consent of Homebuyer. <br />21. HOMEBUYER ASSIGNMENT PROHIBITED. <br />Page 40 <br />Exhibit B <br />5 53 94.0010 1 \43721567.2 <br />