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NS-2893
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Last modified
2/23/2016 3:30:38 PM
Creation date
2/23/2016 10:03:33 AM
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Template:
City Clerk
Doc Type
Ordinance
Doc #
NS-2893
Date
2/16/2016
Destruction Year
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(d) Any other event, condition, act, or omission which materially <br />interferes with the intent and objectives of this Development <br />Agreement. <br />7.2 Procedure upon Default. The following principles and procedures shall <br />be applied in the determination of any Default: <br />(a) Upon the occurrence of default, City shall give Owner (the <br />"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 Development Agreement in <br />accordance with the procedure adopted by the City as to all <br />defaults that may be cured within said thirty (30) day cure period. <br />For defaults that cannot be cured within said thirty (30) day cure <br />period, City may terminate or amend this Development Agreement <br />in accordance with the procedure adopted by the City should at any <br />time Owner fail to diligently proceed in curing the default. Failure or <br />delay in giving notice of default shall not constitute a waiver of any <br />default, nor shall it change the time of default. <br />(b) City does not waive any claim of defect in performance by Owner, if <br />on periodic review the City does not propose to modify or terminate <br />this Development Agreement. <br />(c) Nan - performance shall not be excused because of failure of a third <br />person. <br />(d) An express repudiation, refusal, or renunciation of the contract, if <br />the same is in writing and signed by the Owner, shall be sufficient <br />to terminate this Development Agreement and a hearing on the <br />matter shall not be required. <br />(e) Adoption of a law or other governmental activity making <br />performance by the Owner unprofitable or more difficult or more <br />expensive does not excuse the performance of the obligation by the <br />Owner. <br />(f) All other remedies at law or in equity which are not inconsistent with <br />the provisions of this Development Agreement are available to the <br />parties to pursue in the event there is a breach. <br />7.3 Damages upon Termination. In no event shall Owner be entitled to any <br />damages against City upon termination of this Development Agreement. <br />7.4 Institution of Legal Action. In addition to any other rights or remedies, <br />either party may institute legal action to cure, correct, or remedy any <br />17 <br />
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