3.2. EDSR 02-02-1998 - Laserfiche WebLink

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and the Improvements at least new (as opposed to transfers of existing positions) Permanent Full-Time Employment Positions. Such new positions shall be created, through the • actual employment of individuals, no later than two (2) years after the substantial completion of the Improvements pursuant to the terms of the Contract. Section 2.2. Wage Requirements. The new Permanent Full-Time Employment Positions required to be created pursuant to Section 2.1 shall be paid an average wage of no less an hour. Section 2.3. Monitoring. The Redeveloper agrees that it will provide upon request by the Authority documentation, reasonably required by the Authority, to document Redeveloper's compliance with the provisions of this Agreement. Section 2.4. Continuing Obligation. The Redeveloper's obligations under this Agreement shall be continuing and the Redeveloper shall cause the employment and wage levels to be maintained for a period of at least one (1) year from the date that the Redeveloper is first obligated to achieve the employment and wage levels. ARTICLE III Default Section 3.1. Defaults Defined. It shall be a default under this Agreement if the III Redeveloper fails to comply with any term or provision of this Agreement, and fails to cure such failure within sixty (60) days written notice to the Redeveloper of the default, but only if the default has not been cured within said sixty (60) days, or the Redeveloper does not provide to the Authority assurances, satisfactory to the Authority in its reasonable discretion, that the default will be cured and will be cured as soon as reasonably possible. Section 3.2. Remedies on Default. Upon the occurrence of a default under this Agreement the Authority may declare immediately due and payable the entire amount of principal and interest paid by the Authority under the Note, as defined in the Contract, together with interest on such amount at the rate of eight and one-half percent (8.5%) from the date that the Authority makes such declaration. Within ten (10) days after the date that the Authority makes such declaration the Redeveloper shall be liable for and shall repay the amount of the assistance plus interest. Section 3.3. Costs of Enforcement. Whenever any default occurs under this Agreement and the Authority shall employ attorneys or incur other expenses for the collection of payments due or for the enforcement of performance or observance of any obligation or agreement on the part of the Redeveloper under this Agreement, the Redeveloper shall be liable to the Authority for the reasonable fees of such attorneys and such other expenses so incurred by the Authority; provided, that the Redeveloper shall only be obligated to make such reimbursement if the C-4 IP