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(2) Developer assigns the Agreement without the prior written consent of City. <br /> (3) Developer is adjudged bankrupt or makes a general assignment for the benefit of <br /> creditors, or a receiver is appointed in the event of Developer's insolvency. <br /> (4) Developer or Developer's contractors, subcontractors, agents or employees, fail <br /> to comply with any terms or conditions of this Agreement. <br /> (5) Any delay in the construction of any portion of the Work or repairs, which in the <br /> reasonable opinion of the City Engineer, endangers public or private property. <br /> City may serve written notice of breach and default upon Developer and the financial institution holding <br /> the securities. <br /> 26. Opportunity to Cure. If City gives Developer notice under Section 25 of breach and <br /> default of this Agreement, Developer shall have 30 days within which to correct, remedy or cure the <br /> default. If the written notification states that the problem is urgent and relates to the public health and <br /> safety, then Developer shall have 24 hours to correct, remedy or cure the default. If Developer does not <br /> cure the default within the applicable timeframe, City may pursue the remedies set forth in Section 27 <br /> below. <br /> 27. Remedies. <br /> 27. 1 City may proceed to complete the Work by contract or other method City <br /> considers advisable, at the sole expense of Developer. Developer, immediately upon demand, <br /> shall pay the costs and charges related to the Work and any subsequent repairs. City, without <br /> liability for doing so, may take possession of and utilize in completing the Work and repairs, if <br /> any, such materials and other property belonging to Developer as may be on or about the Property <br /> and necessary for completion of the work. In the event of default, the financial institution holding <br /> the securities shall be liable to City to pay the face amount of the security, as specified under <br /> Section 14. <br /> 27.2 City may bring legal action to compel performance of this Agreement and <br /> recover the costs of completing the Work and/or repairs, if any, including City's administrative <br /> and legal costs or pursue any other action at law or equity. <br /> 27.3 Developer agrees that if legal action is brought by City under this section of the <br /> Agreement, Developer shall pay all of the costs of suit, reasonable attorney fees, arbitration costs <br /> and such other costs as may be determined by the court or arbitrator. <br /> 27.4 No failure on the part of City to exercise any right or remedy hereunder shall <br /> operate as a waiver of any other right or remedy that City may have hereunder. <br /> 27.5 The rights and remedies of City are cumulative, and the exercise by City of one <br /> or more of such rights or remedies shall not preclude the exercise by it, at the same or different <br /> times, of any other rights or remedies for the same default or any other default. <br /> 28. Final Drawings. Upon completion of the Work and prior to final acceptance, Developer <br /> shall deliver to City a set of "as-built" drawings consistent with the Conditions. These drawings shall be <br /> in a form acceptable to the City Engineer, shall be certified as being "as-built" and shall reflect the Work <br /> ATTY/AGR/2015.107/GREYSTAR - 103 WILSON - IA WITH TIF CREDIT Page 12 of 27 <br /> REV: 05-28-15 VR <br />