Res13 15289 - Laserfiche WebLink

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(e) The Developer fails to submit to the City the construction plans, drawings and related documents as required by this Agreement; (fl The Developer does not pay the Purchase Price and take title to the City Property under tender of conveyance by the City pursuant to this Agreement; (g) The Developer ceases to do business as a going concern, ceases to pay its debts as they become due or admits in writing that it is unable to pay its debts as they become due, or becomes subject to any Bankruptcy Proceeding (except an involuntary Bankruptcy Proceeding dismissed within one hundred twenty (120) days after commencement), or a custodian or trustee is appointed to take possession of, or an attachment, execution or other judicial seizure is made with respect to, substantially all of the Developer's assets or the Developer's interest in this Agreement(unless such appointment, attachment, execution, or other seizure was involuntary and is contested with diligence and continuity and vacated and ' discharged within one hundred twenty(120)days); ' (h) The Developer fails to obtain, maintain or replace any insurance coverage required under this Agreement within fifteen (15) business days after Notice of such Default to the Developer; (i) There is a material deviation in the work of construction or installation of the Project from the approved Project plans, without the prior written approval of the City; (j) The construction or installation of the Project does not commence by the time provided for such commencement in the Performance Schedule (Exhibit D) or is delayed or suspended for a period in excess of that permitted under Section 4.6.7(d) or the Project is not completed by the Project Completion Date; (k) Any representation, warranty or disclosure made to the City by the Developer regazding this Agreement, the Site or the Project is materially false or misleading;or (1) The Developer fails to cause any Prohibited Encumbrance to be released within sixty {60) days after Notice of such encumbrance, or fails to commence the release of such Prohibited Encumbrance within the sucty (60) day period and to diligently prosecute the same to completion. 7.4.2 Notice and Remedies. Upon the occurrence of any of the above- described events, the City shall first notify the Developer in writing of its purported breach or failure. Except for those Events of Default in which a cure period is speci�ed, in the event the Developer does not then cure the default within thirty (30) days (or, if the default is not susceptible of cure within such thirty-day period, the Developer fails to commence the cure within such period and thereafter to prosecute the cure diligently to connpletion), then the City shall be entitled to any rights afforded it in law or in equity by taking any or all of the following remedies: (i) termination of this Agreement by written notice to the Developer; or (ii) seeking any other remedy available at law or in equity (including mandamus), provided, however, the City shall not be entitled to recover consequential damages or damages for lost profits. If the 49 2013.118/BLOCK 2 HUNTER STORM REV:07-26-13 PT