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The Defending Parry has seven (7) business days to object to the Complaining Party's <br />Notice of Default. The Defending Party may object to the Notice of Default in its entirety, <br />admit the validity of the Notice of Default in its entirety, or object in part and admit in part. <br />If the Defending Party fails to respond by the end of the seven (7) business day period after <br />the delivery of the Notice of Default (the "Decision Date"), then the Defending Party shall <br />be deemed to have admitted committing all of the acts alleged in the Notice of Default and <br />that they are defaults of this Agreement. Upon actual or deemed admissions, such <br />omissions, actions, or practices shall constitute an "Event of Default" unless the Defending <br />Party promptly commences cure of any default and in good faith proceeds to cure the <br />default. The Defending Party must object to the Notice of Default, if at all, by a notice <br />delivered to the Complaining Party. Any notice of objection shall constitute a notice electing <br />arbitration. Following delivery of such notice, the parties shall proceed to arbitration as <br />provided in Article XXI. <br />If the arbitrator shall find for the Complaining Party in whole or in part with respect <br />to all or any of the Potential Events of Default specified in the Notice of Default, then such <br />acts or omissions of the Defending Party shall each constitute an "Event of Default" of the <br />Defending Party unless the Defending Party promptly commences cure of any default and in <br />good faith proceeds to cure the default. <br />If the Event of Default determined by the arbitrator or admitted by the Defending <br />Party constitutes a continuing or recurring act or omission of the Defending Party, or if an <br />LEASE BETWEEN CITY OF SAN LEANDRO <br />AND SAN FRANCISCO BAY CONFERENCE RESORT PAGE 62 <br />2574001\313983.8 <br />