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...... .. . . . . .._ .. . . ....... ..I. ._. ... ..._... ._... .. .. . . ... the occurrence of an Unavoidable Delay. Any Party claiming an Unavoidable Delay shall Notify the other Party: (a)within ten(10) days after such Party knows of any such Unavoidable Delay; and (b)within five (5) days after such Unavoidable Delay ceases to exist. To be effective, any Notice of an Unavoidable Delay must describe the Unavoidable Delay in reasonable detail. The extension of time for an Unavoidable Delay shall commence on the date of receipt of written Notice of the occurrence of the Unavoidable Delay by the Party not claiming an extension of time to perform due to such Unavoidable Delay and shall continue until the end of the condition causing the Unavoidable Delay. The Party claiming an extension of time to perform due to an ' Unavoidable Delay shall exercise its connmercially reasonable best efforts to cure the condition causing the Unavoidable Delay,within a reasonable time. $.15.2 ASSUMYTION OF ECONOMIC RISKS. EACH PARTY EXPRESSLY AGREES THAT ADVERSE CHANGES IN ECONOMIC CONDITIONS, OF EITHER PARTY SPECIFICALLY OR THE ECONOMY GENERALLY, OR CHANGES IN MARKET CONDITIONS OR DEMAND OR CHANGES IN THE ECONOMIC ASSUMPTIONS OF EITHER PARTY THAT MAY HAVE PROVIDED A BASIS FOR ENTERING INTO THIS AGREEMENT SHALL NOT OPERATE TO EXCUSE OR DELAY THE PERFORMANCE OF EACH AND EVERY ONE OF EACH PARTY'S OBLIGATIONS AND COVENANTS ARISING UNDER THIS AGREEMENT. ANYTHING IN THIS AGREEMENT TO THE CONTRARY NOTWITHSTANDING, THE PARTIES EXPRESSLY ASSUME THE RISK OF UNFORESEEABLE CHANGES IN ECONOMIC : CIRCUMSTANCES AND/OR MARKET DEMAND/CONDTTIONS AND WAIVE, TO THE ! GREATEST LEGAL EXTENT, ANY DEFENSE, CLAIM, OR CAUSE OF ACTION BASED IN WHOLE OR IN PART ON ECONOMIC NECESSITY, IMPRACTICABILTTY, CHANGED ECONOMIC CIRCUMSTANCES, FRUSTRATION OF PURPOSE, OR SIMILAR . THEORIES. THE PARTIES AGREE THAT ADVERSE CHANGES IN ECONOMIC CONDTTIONS, ETI'HER OF THE PARTY SPECIFICALLY OR 'THE ECONOMY ! GENERALLY, OR CHANGES IN MARKET CONDTTIONS OR DEMANDS, SHALL NOT ' OPERATE TO EXCUSE OR DELAY THE STRICT OBSERVANCE OF EACH AND EVERY , ONE OF THE OBLIGATIONS, COVENANTS, CONDITIONS AND REQUIl2EMENTS OF ' THIS AGREEMENT. THE PARTIES EXPRESSLY ASSUME THE RISK OF SUCH ' ADVERSE ECONOMIC OR MARKET CHANGES, WHETHER OR NOT FORESEEABLE AS OF THE EFFECTIVE DATE. NOTHING CONTAINED IN THIS SECTION 8.15.2 SHALL BE DEEMED TO PRECLUDE THE GOVERNING BODY OF THE CITY, IN TTS DISCRETION AND UPON WRTI'TEN REQUEST OF THE DEVELOPER, TO AMEND THIS AGREEMENT OR THE SCHEDULE OF PERFORMANCE TO ADDRESS PROJECT ' DELAYS CAUSED BY CHANGES IN THE ECONOMY GENERALLY OR CHANGES IN MARKET CONDITIONS OR DEMANDS. THE PARTIES AGREE TO WORK COOPERATNELY WITH EACH OTHER IN SUCH CIl2CUMSTANCES, PROVIDED HOWEVER, THE PARTIES ACKNOWLEDGE THAT THE GOVERNING BODY OF THE CITY SHALL RETAIN FULL DISCRETION TO CONSIDER ANY SUCH AMENDMENT TO THE AGREEMENT OR THE SCHEDULE OF P ORMANCE. , Initials of Authorized Initi s of Authorized Representative(s)of City R resentative(s)of Developer 61 2013.118/BLOCK 2 HUNTER STORM REV:07-2613 PT