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the land for and in its own rights and for the purposes of <br /> protecting the interests of the community. The Agency shall have <br /> the right, if such covenants are breached, to exercise all rights <br /> and remedies and to maintain any actions or suits at law or in <br /> equity or such other proper proceedings to enforce the curing of <br /> such breaches to which it or any other beneficiary .of such <br /> covenants may be entitled. The Agency shall have the right to <br /> assign all of its rights and benefits hereunder to the City. <br /> ARTICLE V <br /> DEFAULTS, REMEDIES AND TERMINATION <br /> Section 5 . 01 . Defaults - General . ' <br /> a. Subject to the extensions of time set forth in <br /> Section 6 . 05 hereof, failure or delay by either party to perform <br /> any term or provision of this Aqreement shall constitute a default <br /> under this Agreement; provided, however, that if a party otherwise <br /> in default commences to cure, correct or remedy such default within <br /> the time specified for that default, or if no time is specified <br /> then within thirty (30) calendar days after receipt of written <br /> notice specifying such default and shall diligently and <br /> continuously prosecute such cure, correction or remedy to <br /> completion (and where any time limits for the completion of such <br /> cure, correction or remedy are specifically set forth in this <br /> Agreement, then within said time limits) , such party shall not be <br /> deemed to be in default hereunder. <br /> b. The injured party shall give written notice of <br /> default to the party in default, specifying the default complained <br /> of by the nondefaulting party. Delay in giving such notice shall <br /> not constitute a waiver of any default nor shall it change the time <br /> of default . <br /> c. Any failure or delays by either party in asserting <br /> any of its rights and remedies as to any default shall not operate <br /> as a waiver of any default or of any such rights or remedies . <br /> Delays by either party in asserting any of its rights and remedies <br /> shall not deprive either party of its right to institute and <br /> maintain any actions or proceedings which it may deem necessary to <br /> protect, assert or enforce any such rights or remedies . <br /> ; I Section 5 .02 . Lec�al Actions . <br /> , <br /> � <br /> ; a. In addition to any other rights or remedies, either <br /> party may institute legal action to cure, correct or remedy any <br /> default, to recover damages for any default, or to obtain any other <br /> REDW\0006\DOC\013-6 <br /> 35 3/08/OS mvc <br />