RDA Reso 2000-006 - Laserfiche WebLink

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(c) The Developer, despite good faith efforts on the part of both the Agency and Developer, is unable to obtain approval of a Construction Plan, reasonably satisfactory to Developer, in the time provided in Section 1.04 of this Agreement; or (d) The Developer, despite its good faith and diligent efforts, fails to satisfy one or more of the Conditions Precedent by the Outside Date; or (e) Conditions imposed subsequent to execution of this Agreement by the City's discretionary approvals makes development of the Property in the manner contemplated by this Agreement infeasible or substantially more expensive for Developer; or (f) If the Property materially changes prior to close of escrow; or (g) The Developer fails or refuses to approve the condition of title Agency is prepared to convey as constituting Conforming Condition of Title. Upon the happening of any of the above -described events, and at the election of either Party, this Agreement may be terminated by written notice to the other Party. Thereafter, neither Party shall have any rights against or liability to the other, except as set forth in this Agreement. 6.03 Fault of Agency. Except as to events constituting a basis for termination under Section 6.02, the following events each constitute a basis for Developer to take action against the Agency: (a) Agency without good cause fails to convey the Property within the manner and form herein called for and the Developer is otherwise entitled by this Agreement to such action or conveyance; or (b) The Agency breaches any other material provisions of this Agreement. Upon the happening of any of the above -described events, the Developer shall first notify the Agency in writing of its purported breach, failure or act above -described, giving the Agency three (3) working days from receipt of such notice to respond, and fifteen (15) working days to prepare an action plan to cure such breach, failure, or act. The Agency shall cure such breach, failure, or act within thirty (30) working days from the date of the action plan. If the nature of the breach or failure is such that it cannot reasonably be cured in thirty (30) days, then the Developer shall give the Agency such longer period as reasonably may be required for such cure or action provided that the Agency commences action to cure the breach within fifteen (15) working days from the date of the action plan and thereafter diligently pursues the cure to completion. In the event the Agency does not submit an action plan within three (3) days, does not then so cure within thirty (30) days of the action plan, or in the event that the Agency does not commence curing a default which is not curable within said thirty (30) days after the date of the action plan, the Developer thereafter shall be afforded the right to terminate this Agreement and any other rights afforded it by law or in equity. 6.04 Fault of Developer. Except as to events constituting a basis for termination under Section 6.02, the 21 DOCS0070170M\24258.0001