25B - AGMT - 815 N HARBOR LOAN - Laserfiche WebLink

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materially reduced or impaired as a result. Developer shall use its best efforts to obtain only policies which permit the foregoing waive` o f subrogation. I& DE FAULTS AND REVILDIE S 11.1 Events of Default. The occurrence of any of the following, whatever the reusun tllerefore, shall constitute an Event o f Default by Developer: (a) Developer: fails to make any payment of principal or interest under' the City Loan Note when due, and such failure is not cured within fifteen (15) BusiDUSS Days after Developer's receipt oCwritten notice that such payment was not received when date; (a) Developer fails to perform any other obligation for the payment of rrroney under any Loan Document, and such failure is not cured within fifteen (15) Business Days after Developer's receipt of written notice that such obligation was not performed when due; (c) Developer fails to perform any obligation (other than the obligations deserihed in subparagraphs (a) and (b) above) under any Logan Document, amd such faihire is not cured within thirty (30) days after Developers receipt of written notice that such obligation was not performed; provided that, if cure cannot reasonably be effected within such thirty (30)-day period, such failure shalt not he an Event of [default so ImS as Developer (iii any event, within ten (10) days after receipt of such notice) commences to cure, and thereafter diligently (in any event within ninety (90) days after receipt of such notice) prosecutes such cure to completio z (d) Any representation or warranty in any Lean Document prove% to have been incorrect in any material respect when in ale; (e) The Propeity is maternally damaged or destroyed by fire or other casualty Gutless Developer fulfills the Restoration Conditions sot 'forth in the insurance provisions of this Agreement within ninety (90) days (unless extended pursuant to "Section IT5) and thereafter diligently restores the Property in accordance with this Agreement; (t) Work on the construction ceases for thirty (34) Consecutive days for any reason (other than governmental orders, decree., or regulations, acts of God or any other deity, strikes or other causes beyond Developer's reasonable control), provided that the same do not, in the aggregate and in the City's reasonable judgment, threaten to delay the, completion of the construction beyond the required completion date set forth to this Agreeinent; (h) Developer is enjoined or otherwise prohibited by any Government Authority from constructing and /or occupying the improvements and such injunction or prohibition continues unstayed for sixty (60) days orinore for arty reason; 35 25B -41