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ARTICLE 6. DEVELOPER FINANCING OF PROJECT................................................. 24 <br /> 6.1 Developer's Financing for the Project........................................................... 24 <br /> 6.2 No Prohibited Encumbrances ........................................................................25 <br /> 6.3 City Right to Discharge Prohibited Encumbrances.......................................25 <br /> 6.4 Developer Right to Contest Validity of Encumbrance..................................25 <br /> 6.5 Rights of Lenders and City Regarding Permitted Encumbrances .................25 <br /> 6.6 No Approval Required After Certificate of Completion Issued.................... 28 <br /> ARTICLE 7. EVENTS OF DEFAULT; REMEDIES; TERMiNATION; <br /> ATTORNEYS' FEES..................................................................................... 28 <br /> 7.1 Application of Remedies................................................................................28 <br /> 7.2 No Fault of Parties.........................................................................................28 <br /> 7.3 Fault of the City.............................................................................................29 <br /> 7.4 Fault of the Developer ................................................................................... 30 <br /> 7.5 Legal Actions................................................................................................. 32 <br /> 7.6 Rights and Remedies are Cumulative............................................................ 32 <br /> ARTICLE 8. TRANSFERS AND ASSIGNMENTS .......................................................... 32 <br /> 8.1 Right to Assign .............................................................................................. 32 <br /> 8.2 Limitations on Assignments .......................................................................... 32 <br /> 8.3 Release of Developer Upon Transfer; Recognized Assignees ...................... 33 <br /> 8.4 Covenants Run With the Land....................................................................... 33 <br /> ARTICLE9. NOTICES....................................................................................................... 34 <br /> 9.1 Procedure ....................................................................................................... 34 <br /> 9.2 Form and Effect of Notice ............................................................................. 35 <br /> ARTICLE 10. MISCELLANEOUS ...................................................................................... 35 <br /> 10.1 Negation of Partnership ................................................................................. 35 <br /> 10.2 Not a Public Dedication................................................................................. 36 <br /> 10.3 Severability.................................................................................................... 36 <br /> 10.4 Exhibits.......................................................................................................... 36 <br /> 10.5 Relationship of Parties................................................................................... 36 <br /> 10.6 Survival of Agreement................................................................................... 36 <br /> 10.7 Conflict of Interest......................................................................................... 36 <br /> 10.8 Non-liability of Officials, Employees and Agents......................................... 36 <br /> 10.9 Calculation of Time Periods .......................................................................... 37 <br /> 10.10 Principles of Interpretation ............................................................................ 37 <br /> 10.11 Governing Law.............................................................................................. 37 <br /> 10.12 City Attorney Fees and Costs ........................................................................ 37 <br /> 10.13 Unavoidable Delay; Extension of Time of Performance............................... 37 <br /> 10.14 Binding on Successors and Assigns............................................................... 38 <br /> 10.15 Entire Agreement........................................................................................... 38 <br /> 10.16 Further Assurances; Covenant to Sign Documents ....................................... 38 <br /> 10.17 Signature Pages.............................................................................................. 3 8 <br /> 10.18 Time............................................................................................................... 39 <br /> ATTY/AGR/2015.146/HAMILTON-WINSLOW DDA <br /> REV:08-18-15 VR <br /> Page 3 <br /> 82483.00019\9644366.16 <br />