Common use of Default by the Developer Clause in Contracts

Default by the Developer. 17.01 If the Developer should default under any provision of this Agreement, the Municipality shall give the Developer notice of the particulars of such default. 17.02 If within fourteen (14) days after the giving of such notice, the Developer fails to rectify such default as contained in the notice, to the satisfaction of the Municipality, then the Municipality shall be entitled to draw upon the performance security provided by the Developer and itself remedy the default in whole or in part and recover from the Developer any costs thereof in excess of that performance security or to specific performance to rectify such breach or default, or alternatively shall be entitled to seek an injunction to restrain such breach, or to enforce any term or condition of this Agreement or shall be entitled to seek a declaration terminating this Agreement for non-performance, or any and all such remedies, (which remedies are hereby acknowledged as being cumulative and not alternative), provided further that if the Agreement is so terminated, by virtue of the Developer's default, the parties hereto agree that the Municipality shall not be liable for any loss or damage that may be suffered by the Developer as a result of such termination, and the parties hereto further covenant and agree that the Municipality in any such event, shall not be liable for any loss or damage suffered by any other person, firm or corporation by virtue of such termination, and the Developer does hereby for itself and its successors and assigns indemnify and save harmless the Municipality, and its successors and assigns, from any claim or demand from any person, firm or corporation which may suffer loss or damage by reason of the termination of this Agreement because of the Developer's failure or default as aforesaid.

Default by the Developer. 17.01 If the Developer should default under any provision of this Agreement, the Municipality City shall give the Developer notice of the particulars of such the default. 17.02 If . If, within fourteen (14) ten days after the giving following delivery of such notice, the Developer fails to rectify such the default as contained described in the notice, notice to the satisfaction of the MunicipalityCity, then the Municipality City shall be entitled to draw upon the performance security provided by the Developer and itself Developer, remedy the default in whole or in part part, and recover from the Developer any costs thereof in excess of that performance security or to specific performance to rectify such breach or default. Alternatively, or alternatively the City shall be entitled to seek an injunction to restrain such any breach, or to enforce any term or condition of this Agreement Agreement, or shall be entitled to seek a declaration terminating this Agreement for non-performance, or any and all such remedies, remedies (which remedies are hereby acknowledged as being cumulative and not alternative), provided further that if the Agreement is so terminated, terminated by virtue of the Developer's ’s default, the parties hereto agree that the Municipality City shall not be liable for any loss or damage that may be suffered by the Developer as a result of such termination, and the . The parties hereto further covenant and agree that the Municipality City, in any such event, shall not be liable for any loss or damage suffered by any other person, firm or corporation by virtue of such termination, and the Developer does hereby for itself and its successors and assigns indemnify assigns, indemnifies and save saves harmless the Municipality, City and its successors and assigns, assigns from any claim or demand from any person, firm or corporation which may suffer loss or damage by reason of the termination of this Agreement because of the Developer's ’s failure or default as aforesaiddefault.