Inst 2013178610 - Laserfiche WebLink

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