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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 <br /> 4/23/13 8 <br />