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2890662.3 47 <br />9. Default and Remedies. <br />9.1 Events of Default. The occurrence of any one or more of the following <br />events shall constitute an event of default hereunder ("Event of Default"): <br />(a) The occurrence of a Transfer in violation of Section 8.1 hereof; <br />(b) Owner’s failure to maintain insurance on the Property and the <br />Project as required hereunder, and the failure of Owner to cure such default within 10 <br />days. <br />(c) Subject to Owner’s right to contest the following charges, Owner’s <br />failure to pay taxes or assessments due on the Property or the Project or failure to pay <br />any other charge that may result in a lien on the Property or the Project, and Owner’s <br />failure to cure such default within 10 days. <br />(d) Owner’s default in the performance of any term, provision or <br />covenant under this Agreement or under any other City Document (other than an <br />obligation enumerated in this Subsection 9.1), and unless such provision specifies a <br />shorter cure period for such default, the continuation of such default for ten (10) days in <br />the event of a monetary default or thirty (30) days in the event of a non-monetary default <br />following the date upon which City shall have given written notice of the default to <br />Owner, or if the nature of any such non-monetary default is such that it cannot be cured <br />within 30 days, Owner’s failure to commence to cure the default within thirty (30) days <br />and thereafter prosecute the curing of such default with due diligence and in good faith, <br />but in no event longer than 60 days from receipt of the notice of default. <br />The limited partners of Owner shall have the right to cure any default of Owner <br />hereunder upon the same terms and conditions afforded to Owner. Provided that City <br />has been given written notice of the address for delivery of notices to the limited <br />partners, City shall provide any notice of default hereunder to the limited partners <br />concurrently with the provision of such notice to Owner, and as to the limited partners, <br />the cure periods specified herein shall commence upon the date of delivery of such <br />notice in accordance with Subsection 11.3. <br />9.2 Remedies. If within the applicable cure period, Owner fails to cure a default <br />or fails to commence to cure and diligently pursue completion of a cure, as applicable, or if <br />a cure is not possible, City may proceed with any of the following remedies: <br />A. Bring an action for equitable relief seeking the specific performance of the <br />terms and conditions of this Agreement, and/or enjoining, abating, or <br />preventing any violation of such terms and conditions, and/or seeking <br />declaratory relief; <br />B. Pursuant to the City Documents, accelerate and declare the balance of <br />the City Note and interest accrued thereon immediately due and payable; <br />69