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<br />24. <br /> <br />Events of Default; Remedies; Termination; Attorneys' Fees. <br /> <br />(a) <br /> <br />Subject to any extensions of time by mutual consent in writing, and <br /> <br />subject to the provisions of Sections 16 and 18 regarding permitted delays and other <br /> <br />delays, any failure by any party to perform any material term or provision of this <br /> <br />Agreement shall constitute an Event of Default if: <br /> <br />(i) <br /> <br />The defaulting party does not cure the failure within 30 days <br /> <br />following notice of default from the other party, where the <br /> <br />failure can be cured within the 30 day period; or <br /> <br />(ii) <br /> <br />The defaulting party does not commence substantial efforts to <br /> <br />cure the failure within that 30 day period where the failure can <br /> <br />not be cured within that 30 day period, and thereafter does not <br /> <br /> <br />proceed diligently to cure the failure. <br /> <br />(b) <br /> <br />Any notice of default must specify in detail the nature of the failure to <br /> <br />perform which the noticing party claims constitutes the Event of Default and the <br /> <br />manner in which the Event of Default can be satisfactorily cured. While a party is <br /> <br />attempting to perform within the time periods specified in this Section 24 for cure of <br /> <br />a failure to perform, the party charged with failure to perform is not in default for <br /> <br />purposes of termination of this Agreement, institution of legal proceedings with <br /> <br />respect thereto, or issuance of any Approvals with respect to the Project. <br /> <br />(c) <br /> <br />Upon the failure to cure an Event of Default, any non defaulting party <br /> <br />may bring any action at law or in equity permitted by the Laws or this Agreement, <br /> <br />including but not limited to any proceeding in the nature of specific performance, <br /> <br />-37- <br /> <br />DV AGR0'3, rxJC <br />August 26, 1996 <br />