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materially reduced or impaired as a result. Developer shall use its best efforts to obtain <br />only policies which permit the foregoing waiver of subrogation. <br />18. DEFAULTS AND REMEDIES <br />18.1 Events of Default. The occurrence of any of the following, whatever the <br />reason therefore, shall constitute an Event of Default by Developer: <br />(a) Developer fails to make any payment of principal or interest under <br />the City Loan Note when due, and such failure is not cured within fifteen (15) Business <br />Days after Developer's receipt of written notice that such payment was not received when <br />due; <br />(b) Developer fails to perform any other obligation for the payment of <br />money wider any Loan Document, and such failure is not cured within fifteen (15) <br />Business Days after Developer's receipt of written notice that such obligation was not <br />performed when due; <br />(c) Developer fails to perform any obligation (other than the <br />obligations described in subparagraphs (a) and (b) above) under any Loan Document, and <br />such failure is not cured within thirty (30) days after Developer's receipt of written notice <br />that such obligation was not performed; provided that, if cure cannot reasonably be <br />effected within such thirty (30) -day period, such failure shall not be an Event of Default <br />so long as Developer (in any event, within ten (10) days after receipt of such notice) <br />comrnences to cure, and thereafter diligently (in any event within ninety (90) days after <br />receipt of such notice) prosecutes such cure to completion; <br />(d) Any representation or warranty in any Loan Document proves to <br />have been incorrect in any material respect when made; <br />(e) The Property is materially damaged or destroyed by fire or other <br />casualty unless Developer fulfills the Restoration Conditions set forth in the insurance <br />provisions of this Agreement within ninety (90) days (unless extended pursuant to <br />Section 17.5) and thereafter diligently restores the Property in accordance with this <br />Agreement; <br />(f) Work on the constriction ceases for thirty (30) consecutive days <br />for any reason (other than govermnental orders, decrees or regulations, acts of God or any <br />other deity, strikes or other causes beyond Developer's reasonable control), provided that <br />the same do not, in the aggregate and in the City's reasonable judgment, threaten to delay <br />the completion of the construction beyond the required completion date set forth in this <br />Agreement; <br />(h) Developer is enjoined or otherwise prohibited by any Government <br />Authority from constructing and /or occupying the improvements and such injunction or <br />prohibition continues unstayed for sixty (60) days or more for any reason; <br />35 <br />