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4/23/13 8 <br />the actions required to cure such default hereunder. If the Failing Owner fails to commence the <br />cure of such default within ten (10) business days after receipt of such written notice or after <br />commencing such cure the Failing Owner fails to diligently prosecute such cure to completion, <br />then other Owner may take all such actions as reasonably necessary to cure the default, <br />including, without limitation entry on the Parcel of the Failing Owner and curing such default, <br />and any direct third party costs incurred by the other Owner in connection with such cure, upon <br />demand to Failing Owner, shall be due and payable to the other Owner from Failing Owner <br />within ten (10) days after the Failing Owner receives written demand for payment from the other <br />Owner which shall include third party invoices reflecting incurred costs. Interest at the <br />maximum rate allowed by Law shall accrue and be payable on any such amount not paid in <br />accordance with the preceding sentence from the date due until paid. <br /> 4.5 Reservation of Right to Assign Obligations. City shall have the right to assign its <br />maintenance, operation, and repair obligations under this Agreement to a successor or to a <br />property manager in the exercise of City’s sole discretion. <br />4.6 Construction Activities. Each Owner agrees that all construction, alteration, <br />remodeling, and reconstruction performed by or on behalf of such Owner on its Parcel shall be in <br />compliance with this Agreement and all applicable Laws and codes. Each Owner agrees that all <br />improvements constructed by it on its Parcel shall be constructed in a good and workmanlike <br />manner, using prime quality materials and only after notifying the other Owner 30 days in <br />advance of any activities that may impact the other, emergency repairs excepted. <br />5. Locations. The Owner of Parcel 2 shall not be permitted to construct improvements <br />outside of Parcel 2 except as otherwise authorized in this Agreement. <br />6. Compliance With Laws; Hazardous Substances. Owner shall comply with all Laws <br />applicable to its Parcel and the improvements located thereon at its sole cost. Each Owner shall <br />maintain its Parcel at all times so as to comply with and conform to all Laws. Each Owner shall <br />be responsible, at its sole cost, for compliance with any and all Environmental Laws applicable <br />to its Parcel. If a Release or Violation affecting the Property occurs on a Parcel, then the Owner <br />of the Parcel on which the Release or Violation occurred shall, at no cost to the other Owner, <br />promptly remove or remediate the Release or Violation, in each case to the extent required by <br />and in full compliance with Laws and shall indemnify and hold harmless the other Owner(s) <br />from and against any and all Losses arising out of or in connection with a Release or Violation <br />affecting the Property. Notwithstanding the foregoing, if such a Release or Violation on a Parcel <br />was caused by the Owner or Parcel User of the other Parcel, then the Owner of such other Parcel <br />shall at no cost to the Owner of the Parcel affected, promptly remove or remediate the Release or <br />Violation, in each case to the extent required by and in full compliance with Laws, and shall <br />indemnify and hold harmless the Owner of the Parcel affected from and against any and all <br />Losses arising out of or in connection with such Release or Violation. <br />7. Taxes. Each Owner agrees to pay or cause to be paid, prior to delinquency, directly to <br />the appropriate taxing authorities, all real property taxes and general and special assessments <br />(including any special assessment, district assessments or similar funding mechanism <br />promulgated by the governmental authority) which are levied against the Parcel and