AgdaPkt 2002-12-09 - Laserfiche WebLink

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q. �1� Iq-� Z0. The Developer has failed to execute and deliver a counterpart of the Parking Facilities Agreement as provided in Section 518 or the Maintenance Agreement as provided in Secrion 519. B. Rea►edies. Where the Agency has terminated this Ageement because Developer � is in Default pursuant to Section 808(A) immediatelyabove, the following provisions shall aPP1Y: , 1. T#ie Agency may eiect to terminate all acquisition activities forthwith. Developer shall be responsible for the Agency's Abaadonment Costs. As used herein, "Abandonment Costs" shall mean any sums needed by the Agency to pay obligations incurred in connection with this Agreement, or reasonably incurred in abandoning its obligaUions under ttris Agreement or in any action or proceeding initiated by a party other than the Agency seeking to set aside its abandonment of such obligations, wluch costs shall include, without limitation, any fees, penalries or damages wlrich are awarded against the Agency, excluding fees, penalries and damages awarded which may be at�ibutable to the fault of the Agency. The Agency may continue to hold and draw against the Developer's Share of the Acquisition Budget. Any balance in the Developer's Share of the Acquisition Budget funds for such purpose, together with interest, if any, remaining after payment of such Abandonment Costs, shall be returned to Developer. 2. At the elecrion of the Agency, the Proj ect Guidelines and ail other drawings and work product of the azchitect and engineer in connecrion with work on the Project (collectively, the "Project Drawings") shall be made available to the Agency and, subject to the terms of the agreements with the azchitect and engineer, become and remain the property of the Agency for any and all purposes. Notwithstanding the foregoing sentence, Developer shall not be liable for any matter whatsoever that results from the use by any person or entity of the Project Guidelines or the Project Drawings. ' 3. The Agency shall retain title to any and all interests and rights it has acquired in the Agency Pazcel and shall have the right but not the duty, in the Agency's sole discretion, as an alternative to Section 808(B)(1), to pmceed with the acquisition process and to retain title to, any and all interests and rights in any Acquisition Pazcel the Agency may then hold; provided, however, that in such event the Agency shall reimbutse Developer for the Developer's Share of the Acquisition Costs that Developer may have paid for such title, interest or rights without interest. C. Cure of Defaults. Norivithstanding Section 808(B), if an event occurs pursuant to Section 808(A), then Developer shall have forty-five (45) days after receipt of notice with respect to such Default, with due diligence, to commence to cure, correct or remedy such Default and thereafter pursue such cure, correction or remedy to completion. If Developer commences to cure within such period and completes such cure with diligence as aforesaid, then the Agency shall not terminate this Ageement or institute proceedings against Developer for such Default. 38 DOCSSFL648942.4 9975-5 C 14 120502