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proceeding diligently to complete the necessary cure after service of notice by the non -defaulting party. 23.1(c) If Lessee fails to timely proceed with Phase II or rescinds its corporate action acknowledging its obligation to proceed with Phase II, provided however, it shall not be an event or default if at the time the initial construction contract is awarded the Golf Course renovation bid exceeds the renovation budget (Exhibit "E") and the parties fail to agree upon the allocation of such exceedances. In such event, this Lease shall terminate and no Party shall be liable to the other for reason of such termination. 23.1(d) Notwithstanding Section 23.1(b) to the contrary, should Lessee breach its obligations to maintain the Leased Premises in accordance with the standards set forth in Exhibit D, and (i) Lessee fails to cure such default within fifteen (15) days after written notice from Lessor, and (ii) as a result of such breach Lessor determines in its reasonable discretion that there is an imminent threat to the greens, fairway and trees, and that such threat is due to the gross negligence of Lessor, Lessor shall have the unconditional right to enter the Leased Premises, operate and maintain the Golf Facilities in accordance with the Standards in Exhibit D and to recover the expenses thereof against Lessee. 23.2 Remedies. 23.2 (a) If any of the conditions identified in Section 23.1 above should occur and the party in default does not cure the default, the non -defaulting party may elect (i) to terminate this Lease immediately and seek all remedies as provided below, or under law and equity; (ii) in the case of Lessor only, to maintain Lessee's right to possession and seek all remedies as provided under law and equity (including, without limitation, the right to collect Minimum Rent and other sums as they become due hereunder); or (iii) pursue any other right or remedy now or hereafter available to Lessor hereunder or at law or in equity. If Lessor exercises its remedy set forth in clause (i) above, Lessor shall be entitled to recover from Lessee: (a) the worth at the time of the award of the unpaid Minimum Rent and Percentage Rent which had been earned or was payable at the time of termination; (b) the worth at the time of the award of the amount by which the unpaid Minimum Rent and Percentage Rent which Lessor would have earned after termination until the time of the award exceeds the amount of such rental loss that could have been reasonably avoided; (c) the worth at the time of the award of the amount by which the unpaid Minimum Rent and Percentage Rent which Lessee would have paid for the balance of the Term after the time of award exceeds the amount of such rental loss that could have been reasonably LEASE AGREEMENT BETWEEN CITY OF SAN LEANDRO AND AMERICAN GOLF PAGE 31 11/13/97 FINAL J.\WPD\CSL\136\01WGREE�GOLFCOURWGREBLASE.CLN