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§ 3.05 Workers' Compensation Insurance <br />DTI shall provide a policy or policies of workers' compensation insurance as required by <br />law. <br />§ 3.06 Modification of Insurance Requirements <br />The City Manager may modify or suspend the requirements imposed on DTI by this Article <br />if in his reasonable determination; strict compliance is impossible or excessively costly due to <br />insurance market conditions. <br />ARTICLE 4 <br />DEFAULTS, REMEDIES AND TERMINATION <br />§ 4.01 Defaults <br />(a) Failure or delay by either party to perform any term or provision of this Agreement shall <br />constitute a default under this Agreement. The injured party shall not initiate the remedies <br />hereinafter provided until the defaulting party has been given written notice of the default, <br />specifying the nature thereof, and a period of sixty (60) days to cure or correct such default. <br />(b) Any failure or delay by either party in asserting any of its rights or remedies as to any <br />default shall not operate as a waiver of any default or of any such rights or remedies, or deprive <br />such party of its right to institute and maintain any actions or proceedings which it may deem <br />necessary to protect, assert or enforce any such rights or remedies. <br />§ 4.02 Remedies of Citv <br />In the event of any default and failure to cure, correct or remedy the same by DTI, City may, <br />at City's sole discretion, in addition to or in lieu of any other remedies, exercise either of the <br />following remedies: <br />(a) Delay of any or all transfers of BID funds to DTI collected pursuant to § 2.01 of this <br />Agreement until such default is cured, corrected or remedied; provided such delay is approved by <br />the City Council. <br />(b) Terminate this Agreement, provided such termination is approved by the City <br />Council. <br />§ 4.03 Legal Actions <br />In addition to any other rights or remedies, either parry may institute legal action to cure, <br />correct or remedy any default, to recover darnages for any default, or to obtain any other remedy <br />