Common use of Default; Right to Cure Clause in Contracts

Default; Right to Cure. No party shall be deemed in default hereunder until such Party has failed to cure the alleged default with thirty (30) days in the case of a monetary default, or within thirty (30) days in the case of a non-monetary default, from notice of such default from the other Party; provided, however, if the nature of such non-monetary default is such that it cannot reasonably be cured within such thirty (30) days period, then such Party shall not be deemed in default if such Party commences to cure such default within such thirty (30) day period and thereafter diligently prosecutes such cure to completion. In the event of a default and except as may be otherwise provided herein to the contrary, the non-defaulting party may: (i) terminate this AGREEMENT upon written notice to the defaulting party, recover from the defaulting party all damages incurred by the non-defaulting party; (ii) except as may be otherwise expressly provided to the contrary herein, seek specific performance of this AGREEMENT, and, in addition, recover all damages incurred by the non- defaulting party; (the parties declare it to be their intent that this AGREEMENT may be specifically enforced); (iii) pursue all other remedies available at law, it being the intent of the parties that remedies be cumulative and liberally enforced so as to adequately and completely compensate the non-defaulting party. Notwithstanding the foregoing the liability of the City is limited to it obligation to remit to OWNER/DEVELOPER its portion sales taxes actually received by the City.

Default; Right to Cure. No party Party shall be deemed in default hereunder until such Party has failed to cure a monetary default within five (5) days of the alleged default with due date for such payment or thirty (30) days in the case of a monetary default, or within thirty (30) days in the case from notice of a non-monetary default, from notice of such default from the other Party; provided, however, if the nature of such a non-monetary default is such that it cannot reasonably be cured within such thirty (30) days day period, then such Party shall not be deemed in default if such Party commences to cure such default within such thirty (30) day period and thereafter diligently prosecutes such cure to completion. In If the event default has not been cured within the applicable grace period as herebefore provided, then an “Event of a default Default” shall have occurred under this Agreement. Upon an occurrence of an Event of Default which has not been cured and except as may be otherwise provided herein to the contrary, the non-defaulting party may: party’s sole and exclusive remedies are to (i) terminate this AGREEMENT Agreement upon thirty (30) days written notice to the defaulting party, recover from the defaulting party all damages incurred by the non-defaulting party; (ii) except as may be otherwise expressly provided to the contrary herein, seek specific performance of this AGREEMENTAgreement, and, in addition, recover all damages incurred by the non- defaulting party; (the parties declare hereto specifically declaring it to be their intent that this AGREEMENT Agreement may be specifically enforced); or (iii) commence an action to collect any monetary obligations due and owing under this Agreement, until such Event of Default has been cured. In order for either party to bring an action for specific performance for any Event of Default under this Agreement, such action must be commenced within six (6) months of the Event of Default. The parties may not pursue all any other remedies available at lawlaw or equity, it being the intent of the parties that remedies be cumulative set forth in this paragraph and liberally enforced so as to adequately paragraph 10 are the sole and completely compensate the non-defaulting party. Notwithstanding the foregoing the liability exclusive remedies of the City is limited to it obligation to remit to OWNER/DEVELOPER its portion sales taxes actually received by the Cityparties hereto.

Default; Right to Cure. No party Except as otherwise set forth in this Agreement, no Party shall be deemed in default hereunder until such Party has failed to cure a monetary default within five (5) days of the alleged default with due date for such payment or thirty (30) days in the case of a monetary default, or within thirty (30) days in the case from notice of a non-monetary default, from notice of such default from the other Party; provided, however, if the nature of such a non-monetary default is such that it cannot reasonably be cured within such thirty (30) days day period, then such Party shall not be deemed in default if such Party commences to cure such default within such thirty (30) day period and thereafter diligently prosecutes such cure to completion. In If the event default has not been cured within the applicable grace period as here before provided, then an “Event of a default Default” shall have occurred under this Agreement. Upon an occurrence of an Event of Default which has not been cured and except as may be otherwise provided herein to the contrary, the non-defaulting party may: party’s sole and exclusive remedies are to (i) terminate this AGREEMENT Agreement upon thirty (30) days written notice to the defaulting party, recover from the defaulting party all damages incurred by the non-defaulting party; (ii) except as may be otherwise expressly provided to the contrary herein, seek specific performance of this AGREEMENTAgreement, and, in addition, recover all damages incurred by the non- defaulting party; (the parties declare hereto specifically declaring it to be their intent that this AGREEMENT Agreement may be specifically enforced); or (iii) commence an action to collect any monetary obligations due and owing under this Agreement, until such Event of Default has been cured. In order for either party to bring an action for specific performance for any Event of Default under this Agreement, such action must be commenced within six (6) months of the Event of Default. The parties may not pursue all any other remedies available at lawlaw or equity, it being the intent of the parties that remedies be cumulative set forth in this paragraph and liberally enforced so as to adequately paragraph 10 are the sole and completely compensate the non-defaulting party. Notwithstanding the foregoing the liability exclusive remedies of the City is limited to it obligation to remit to OWNER/DEVELOPER its portion sales taxes actually received by the Cityparties hereto.