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SECTION 6.06 RIGHTS UPON DEFAULT <br /> Upon default by Recipient, City has all remedies available to it under State law <br /> enforcing this Agreement and City's rights to the collateral mentioned herein <br /> including, but not limited to the following: <br /> a. Accelerate and declare the full balance immediately due on the <br /> Promissory Note and commence suit for collection thereof; <br /> b. Specifically enforce the terms of the Promissory Note and related <br /> agreements; <br /> c. Foreclose on any real property or appropriate personal property by strict <br /> foreclosure in equity; <br /> d. Pursue any and all other remedies available under law to enforce the <br /> terms of this Agreement. <br /> ARTICLE VII: MISCELLANEOUS <br /> SECTION 7.01 WAIVER OF NOTICE <br /> No failure or delay on the part of City in exercising any right, power, or <br /> remedy hereunder shall operate as a waiver thereof, nor shall any single or partial <br /> exercise of any such right, power, or remedy preclude any other or further exercise <br /> thereof or the exercise of any other right, power, or remedy hereunder. No <br /> modification or waiver of any provision of this Agreement nor any consent to any <br /> departure by Recipient therefrom, shall in any event be effective unless the same shall <br /> be in writing, and then such waiver or consent shall be effective only in the specific <br /> instance and for the specific purpose for which given. No notice to or demand on <br /> Recipient in any case shall entitle Recipient to any other or further notice or demand <br /> in similar or other circumstances. <br /> SECTION 7.02 AMENDMENTS - WRITING REQUIRED <br /> The City hereby expressly reserves all rights to amend any provisions of this <br /> Agreement, to consent to or waive any departure from the provisions of this <br /> Agreement, provided, however, that all such amendments be in writing and executed <br /> by City to Recipient. <br /> 12 <br />