Inst 2001161041 - Laserfiche WebLink

Home

(b) The Developer refuses to accept conveyance from the Agency of the Property within the time period, and under such terms as called for in this Agreement; (c) The Developer does not attempt in good faith to procure in a timely manner a building permit or other approvals for the Phase 1 Improvements or abandons any further attempts; (d) The Developer constructs or attempts to construct the Developer Improvements in material deviation from the latest approved Construction Plans and/or the Scope of Development; (e) The Developer fails to submit any plans or evidence required by Article One of this Agreement by the date specified in the relevant section; (f) The Developer fails to commence construction of the Developer • Improvements or to complete same within the time limits set forth in this Agreement (including, if applicable, extension for excusable delays under Section 10.04 of this Agreement); (g) The Developer abandons or suspends construction of the Developer Improvements for a period of sixty (60) days after written notice by the Agency of such abandonment or suspension (including, if applicable, extension for excusable delays under Section 10.04 of this Agreement); (h) Prior to the date of issuance of the Certificate of Completion, the Developer voluntarily or involuntarily undertakes a Transfer not permitted by this Agreement; or (i) Prior to Developer's satisfaction of the conditions for issuance of the Certificate of Completion, the Developer breaches any other material provision of this Agreement. • Upon the happening of any of the above - described events, the Agency shall first notify the Developer in writing of its purported breach, failure or act above- described, giving the Developer three (3) working days from receipt of such notice to respond, and fifteen (15) working days to prepare an action plan to cure such breach, failure, or act. The Developer shall cure such breach, failure, or act within thirty (30) working days from the date of the action plan. If the nature of the breach or failure is such that it cannot reasonably be cured in thirty (30) days, then the Agency shall give the Developer such longer period as reasonably may be required for such cure or action provided that Developer commences action to cure the breach within fifteen (15) working days from the date of the action plan and thereafter diligently pursues the cure to completion. In the event Developer does not submit an action plan within three (3) days, does not then so cure within thirty (30) days of the action plan, or in the event that Developer does not commence curing a default which is not curable within said thirty (30) days after the date of the action plan, the Agency thereafter shall be afforded the right to terminate this Agreement and any other rights afforded it by law or in equity. ARTICLE SEVEN: SPECIFIC REQUIREMENTS REGARDING REMEDIES 7.01 Right of Reverter. Prior to issuance of the Certificate of Completion for the Developer Improvements, in the event the Developer violates one or more portions of Section 6.04 of this Agreement, then the 30 DOCS00746041 v4\24258.0002