Reso 1996-166 to 170 - Laserfiche WebLink

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(d) 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 materially more expensive for Developer. (e) If the Property materially changes prior to close of escrow. 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 Article Seven and Part Two. 7.03 Fault of Aged. Except as to events constituting a basis for termination under Section 7.02, 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 or failure, giving the Agency ten (10) days from receipt of such notice to cure such breach or failure or if the nature of the breach or failure is such that it cannot reasonably be cured in ten (10) days, then giving the Agency such longer period as reasonably may be required for such cure provided that Agency commences action to cure the breach or default within said ten (10) day period and thereafter diligently pursues the cure to completion. In the event Agency does not then so cure or commence to cure within said ten (10) days, then the Developer thereafter shall have the right to terminate this Agreement and any other rights afforded it by law or in equity. Disposition and Development Page 22 of 39 Agreement (Automall) 10/2/96