RecDoc 2013-166678 See placeholder Assignment and Assumption Agmt above

Browse Search

City may serve written notice of breach and default upon Developer and the financial institution holding the securities. 24. O��ortunitv to Cure. If City gives Developer notice under Section 24 of breach and default of this Ageement,Developer sha11 have thirty(30)days within which to correct,remedy or cure the default, or if the breach or default is not susceptible to remedy ar cure within such thirty(30)-day period,Developer shall commence such remedy or cure within thirty(30) days and proceed diligently to completion. If the written notification states that the problem is urgent and relates to the public health and safety, then Developer shall have 24 hours to correct,remedy or cure the default. If Developer does not cure the default within the applicable timeframe, City may pursue the remedies set forth in Section 26 below. 25. Remedies. 25.1 Upon the expiration of the applicable notice and cure period as set forth in Section 25,City may proceed to complete the Work by contract ar other method City considers advisable, at the sole expense of Developer. Developer, immediately upon demand, sha11 pay the costs and charges related to the Work and any subsequent repairs. City, without liability for doing so, may take possession of and utilize in completing the Work and repairs, if any, such materials and other property belonging to Developer as may be on or about the Property and necessary for completion of the work. In the event of default and the City's incurrence of costs to complete the Work or make repairs,the Surety Company holding the securities as specific under Section 13 shall be liable to City. 25.2 City may bring legal action to compel performance of this Ageement and recover the costs of completing the Work and/or repairs, if any, including City's administrative and legal costs or pursue any other action at law or equity. 25.3 Developer agrees that if legal action is brought by City under this section of the Agreement, if the City is the prevailing party in such legal action, Developer shall pay all of the costs of suit,reasonable attorney fees, arbitration costs and such other costs as may be determined by the court or arbitrator. 25.4 No failure on the part of City to exercise any right or remedy hereunder shall operate as a waiver of any other right or remedy that City may have hereunder. 25.5 The rights and remedies of City are cumulative,and the exercise by City of one or mare of such rights or remedies shall not preclude the exercise by it,at the same or different times, of any other rights or remedies for the same default ar any other default. 26. Final Drawines. Upon completion of the Wark and prior to final acceptance, Developer shall deliver to City a set of"as-built" drawings consistent with the Conditions. These drawings shall be in a form acceptable to the City Engineer, shall be certified as being"as-builY' and shall reflect the Wark as actually constructed, with any and all changes incorporated therein. Said drawings shall be signed and sealed as accurate by the engineer of record. 27. Monuments. All pipes and monuments shown on the Final Map which are destroyed or displaced during construction operations shall be replaced by Developer at the time of the final inspection of the Improvements, if any. 28. Attorne_ s'v Fees. Should any legal action or arbitration be brought by either party because of breach of this Ageement ar to enforce any provision of this Agreement, the prevailing party shall be ATTY/AGR/2013.217/IMPROVEMENT AGR 601 MAIN ST REV:11-12-13 VR Page 10 of 24