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23. Notice of Breach and Default. The occurrence of any of the following <br />constitutes a breach and default of this Agreement: <br />23.1 Developer refuses or fails to complete the Work within the time set <br />forth herein or abandons the Work. <br />23.2 Developer assigns the Agreement without the prior written consent <br />of City. <br />23.3 Developer is adjudged bankrupt or makes a general assignment for <br />the benefit of creditors, or a receiver is appointed in the event of Developer's <br />insolvency. <br />23.4 Developer or Developer's contractors, subcontractors, agents or <br />employees, fail to comply with any terms or conditions of this Agreement. <br />23.5 Any delay in the construction of any portion of the Work or repairs, <br />which in the reasonable opinion of the City Engineer, endangers public or private <br />property. <br />City may serve written notice of breach and default upon Developer and the financial <br />institution holding the securities. <br />24. OpportunitV to Cure. If City gives Developer notice under Section 23 of <br />breach and default of this Agreement, Developer will have thirty (30) days within which to <br />correct, remedy or cure the default (or such longer period of time as may reasonably be <br />required, provided that the Developer shall commence to remedy such default within such <br />thirty (30) day period and thereafter diligently prosecute such remedy to completion). If <br />the written notification states that the problem is urgent and relates to the public health <br />and safety, then Developer will have twenty four (24) hours to correct, remedy or cure the <br />default. If Developer does not cure the default within the applicable timeframe, City may <br />pursue the remedies set forth in Section 25 below. <br />25. Remedies. <br />25.1 City may proceed to complete the Work by contract or other method <br />City considers advisable, at the sole expense of Developer. Developer, <br />immediately upon demand, will pay the costs and charges related to the Work and <br />any subsequent repairs. City, without liability for doing so, may take possession <br />of and utilize in completing the Work and repairs, if any, such materials and other <br />property belonging to Developer as may be on or about the Property and <br />REV: 04-12-2023 SK <br />ATTY/AGR.2023.70/SI XX, LLC (Broadway Plaza SIA) (Page 14 of 32) <br />