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remains in effect and Owner is not in default. Owner may record the Letter <br />in the Official Records of the County of Orange. <br />6.3 Failure of- Periedieto Conduct Annual Review. City's failure to review at <br />least annually Owner's compliance with the terms and conditions of this <br />First Amended and_ Rgatated—DAYalogramit Agreement shall not <br />constitute or be asserted by any partyPAft as a breach of thethis First <br />Amended and Restated Developmen Agreement by Owner or City. <br />7. DEFAULT. <br />7.1 Events of Default. Rmperty-Owner is in default under this First Amended <br />and Restated Development Agreement upon the happening of one or <br />more of the following events or conditions: <br />75A -117 <br />(-)-If a warranty, representation, or statement made or furnished by <br />Praperty -Owner to the City is false or proves to have been false in <br />any material respect when it was made; <br />(,+A finding and determination made by the City Council following <br />a periodic review under the procedure provided for in Government <br />Code Section 65865. X65865.1 that upon the basis of substantial <br />evidence the Pfoperty- -Owner has not complied in good faith with <br />one or more of the terms or conditions of this First Amended and <br />Restated Development Agreement; <br />M <br />(3 }Failure to comply with Governmental Requirements; <br />(4) -Any other event, condition, act, or omission which materially <br />interferes with the intent and objectives of this First Amended and <br />Restated Development Agreement. <br />7.2 Procedure upon Default. The following principles and procedures <br />shall be applied in the determination of any efauIt- <br />D <br />('I- )-Upon the occurrence of default, City shall give Pmpeay-Owner <br />(the "defaulting party ") thirty (30) days written notice specifying the <br />nature of the alleged default and, when appropriate, the manner in <br />which said default may be satisfactorily cured. After proper notice <br />and expiration of said thirty (30) day cure period without cure, City <br />may terminate or amend this First Amended and Restated <br />Development Agreement in accordance with the procedure <br />adopted by the City as to all defaults that may be cured within said <br />thirty (30) day cure period. For defaults that cannot be cured within <br />said thirty (30) day cure period, City may terminate or amend this <br />AWx L12W2d79l 55449HA aS -21- <br />75A -117 <br />