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<br />provided that the curing of the default is promptly commenced upon receipt by the Developer of <br />the notice of the default, and with due diligence is thereafter continuously prosecuted to <br />completion and is completed within a reasonable period of time, and provided that Developer <br />keeps the City well informed at all times of its progress in curing the default; provided in no. <br />event, other than as a result of Unavoidable Delays, shall such additional cure period extend <br />beyond 180 days; or <br /> <br />(e) the Developer shall (i) file any petition in bankruptcy or for any reorganization, <br />arrangement, composition, readjustment, liquidation, dissolution, or similar relief under the <br />United States Bankruptcy Act of 1978, as amended or under any similar. Federal or State law; or <br />(ii) make an assignment for the benefit of its <?reditors; or (ii) become insolvent or adjudicated a <br />bankrupt; or if a petition or answer proposing the adjudic~tion of Developer,.as a baDkrupt or its <br />reorganization under any present or future Federal bankruptcy act or any similar Federal or State <br />law .shall be. filed ip. any court and such petition or answer shall not be discharged or denie~ <br />within ninety (90) days after the filing thereof; or a receiver, trustee or liquidator of Developer, <br />or of the Development, or part thereof, shall be appointed in any proceeding brought against <br />Developer, . and shall not be discharged within ninety (90) days after such appointed, or if <br />Developer shall consent to ,or acquiesce in such appointment. " <br /> <br />(f) the Developer shall fail to pay any of the costs described in Article ill of this <br />Agreement. <br /> <br />Section 9.3, City Events of Default. Subject to Unavoidable Delays, the failure of the, <br />City to observe or perform any covenant, condition, obligation or agreement on its part to be' <br />observed or perforriled under this Agreement, and the continuation of such failure for a period of <br />thirty (30) days after written notice,of such failure from any party hereto shall 'be an, Event of. <br />Default for the City. Notwithstanding the foregoing, ifth~ default reasonably requires more than <br />thirty (30) days to cure, such default shall not constitute an Event of Default, provided that the <br />curing of the default is promptly commenced upon receipt by the City of thencitice of the <br />default, and with due diligence is thereafter continuously pros'ecuted' to completion and is <br />completed within a reasonable period of time, and provided that the City keeps the Developer <br />/ well informed at all times of its progress in curing the default; provided'in no event, other than as <br />a result of Una voidable Delays, shall ,such additional cure period extend beyond 180 days. <br /> <br />Se<;tion 9.4 City Remedies on Default. Whenever. any Developer Event of Default <br />occurs, the City may take anyone or more of the following actions: <br /> <br />(a) . SusJ?end performance under this Agreement until it receives assUr.ances from the <br />Developer, deemed adequate by the City, that the Developer will cure its default and continue its <br />performance under this AgreelI!:ent. <br /> <br />(b) Withhold the Certificate of Completion for the Minimum hnprovements. <br /> <br />(c) The City may' cancel911d terminate the Agreement. <br /> <br />(d) Take whatever action at law or in equity may appear necessary or desirable to the <br />City to collect any payments due under tIus Agreement, or to enforce performance and <br />observance of any obligation, agreement, or covenant oithe Developer under this Agreement. <br /> <br />1674205v9 <br /> <br />43 <br />