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4.2 BOND SPENDING PLAN, The City shall be solely responsible for maintaining, administering, and implementing the Bond Spending Plan. The City may amend the Bond Spending Plan as the City deems reasonably necessary in its sole discretion, Any amendments to the adopted Bored Spending Plat will consider uses that advance the City's community development goals while maximizing fiscal and social benefits flowing to the affected taxing entities from successiiil development. Notwithstanding any contrary provision hereof, unless the City expressly agrees otherwise, the City shall not be obligated to provide Bonding ibr any program or projeot in an amount exceeding the Excess Bond Proceeds provided to the City pursuant to this Agreement. S. ENTIRE AGUE EM ENT; WAIVERS; AND ANUND1MIENTS 5.l This Agreement constitutes the entire understanding and agreement of the patties with respect to the transfer and use of Excess Fond Proceeds. This Agreement integrates all of the terms and conditions mentioned heroin or incidental hereto, and superscdcs all negotiations or previous agreements between the parties with respect to the subject matter of Oda Agreement. 5.2 This Agreement is intended solely for the benefit of City and the Successor Agency. Notwithstanding any reference in this Agreement to parsons or entities other than the City and the Successor Agency, there shall be no third party beneficiaries under this Agreement. 5.3 All waivers of the provisions of this Agreement and all amendments to this Agreement must be in writing and signed by the authorized representatives of the parties. 6. SEVERABILI:I°Y If arry tones, provision, covenant or condition of this Agreement is held by a court of competent Jurisdiction to be invalid, void or unenforceable, the remainder of the provisions shall continuer in full force and effeot unless the rights and obligations ofthe parties have been materially altered or abridged by such invalidation, voiding or unonforccability. in addition, the parties shall cooperate in good faith. in an effort to amend or modify this Agre=ert in a manner such that the purpose of any invalidated or voided provision, covenant, or condition can be accomplished to the max1raum extent legally permissible. 7. DEFAULT If either party tails to adequately perform art obligation required by this Agreement within thirty (30) calendar days of receiving written notice from the non - defaulting party, the party failing to perform shall be in default hereunder. In the event of deflrult, the non- defaulting party will have till the rights and remedies available to it at law or in equity to enforce the provisions of this contract, inelu;diarg without litaaitation the right to site for damages For breach of contract or to see% specific performance. The rights and renredi.es of ttre non- defrxalting; party enumerated in this paragraph are cumulative and shall not limit the non - defaulting panty's rights under any other provision of tftis Agreement, or otherwise waive or deny any right or remedy, at law or in equity, existing as of the date of the Agrecauent or hereinafter enacted or established, that may be available to the non - defaulting party against the defaulting pary. Resolution 2016 -003 Page 11 of 14