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<br />Section 5.03. Riahts and Remedies are Cumulative. <br />Except with respect to any rights and remedies expressly declared <br />to be exclusive in this Agreement, the rights and remedies of the <br />parties are cumulative and the exercise by either party of one or <br />more of such rights or remedies shall not preclude the exercise by <br />it, at the same or different times, of any other rights or remedies <br />for the same default or any other default by the other party. <br /> <br />Section 5.04. Reserved. <br />Section 5.05. Reserved. <br />Section 5.06. Rights and Remedies of Termination. <br /> <br />a. <br /> <br />Termination by the Aaency. <br /> <br />1. Subject to written notice of default which <br />shall specify the Developer's default and the action required to <br />cure same and upon thirty (30) calendar days notice to the <br />Developer of the Agency's intent to terminate this Agreement <br />pursuant to this Section, the Agency at its option may terminate <br />this Agreement if the Developer in breach of this Agreement assigns <br />or attempts to assign this Agreement, or any right therein, or <br />attempts to make any total or partial sale, lease or leaseback, <br />transfer or conveyance of the whole or any part of the Property or <br />the improvements to be developed thereon in violation of the terms <br />of this Agreement, and the Developer does not correct such <br />violation within thirty (30) calendar days from the date of receipt <br />of such notice. <br /> <br />2. In addition to the above, the Agency may <br />terminate this Agreement if Developer fails to satisfy the <br />condition precedents set forth in Section 2.02(c) (1), relating to <br />securing of funding and financing commitments for the Project. <br /> <br />3. Subject to written notice of default, which <br />shall specify the Developer's default and the action required to <br />cure same and upon thirty (30) calendar days notice to the <br />Developer of the Agency's intent to terminate this Agreement <br />pursuant to this Section, the Agency at its option may terminate <br />this Agreement if the Developer does not carry out its other <br />responsibilities under this Agreement and such default is not cured <br />or the Developer does not commence and diligently and continuously <br />proceed with such cure within thirty (30) calendar days after the <br />date of receipt of written demand therefor from the Agency. <br /> <br />40 <br /> <br />REDW\0006\DOC\001-5 <br />1/27/05 7:00 /mve <br />