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violation hereof or a default hereunder; or <br />i. The Developer fails to adhere to the requirements of the CRA or is in default with <br />respect to the CRA (beyond applicable notice and cure periods). <br />B. Remedies for Developer Default. At any time as of which a Developer Default <br />exists, the City at its option, may, but shall not be obligated to, exercise any one or more <br />of the following remedies: <br />a. By written notice to the Developer, cease disbursements of proceeds from the <br />TIF Fund until such Developer Default has been cured, if applicable; <br />b. (i) recover from the Developer any sums of money that are due and payable by <br />the Developer to or for the benefit of the City under this Agreement; or (ii) <br />commence an action for specific performance or other equitable relief against <br />the Developer with respect to the defaulted obligations as provided in Section <br />12(G); and (iii) exercise the City's rights under Section 12(H) with respect to <br />the Developer Default; and <br />c. Enforce, or avail themselves of, any other remedies available to the City at law <br />or in equity. <br />Furthermore, in the event of a Developer Default that extends beyond the applicable cure <br />period, and if no cure period is provided, six (6) months after receiving notice, without a cure by <br />Developer (the "Extended Default Period"), then the City may at its option, may, but shall not be <br />obligated to, by written notice to the Developer, terminate this Agreement, provided that such <br />termination shall not affect the obligations of the Developer that have then accrued, including the <br />indemnification requirements of the Developer hereunder. Notwithstanding anything to the <br />contrary herein, no Extended Default Period apply to the construction deadlines set forth in Section <br />8 hereunder). <br />C. Remedies Specific to Breaches of Re -presentations and Warranties. <br />Notwithstanding any provision of this Agreement to the contrary, in the event of any <br />Developer Default, pursuant to Section XII(A)(b) or (c), the City's remedy shall be limited <br />to recovery of any actual damages incurred by the City as a result of its reliance on such <br />false or misleading representation or warranty, report or certificate; except, however in the <br />event that such false or misleading information was provided by Developer fraudulently or <br />with the intent to intentionally mislead the City, in which event all remedies under Section <br />XII(B) shall be available to the City. <br />D. City Default. Any one or more of the following shall constitute a"City Default": <br />a. Default by City in the due and punctual payment, performance or observance <br />of any obligation of City under this Agreement or any other Project Agreement, <br />as to which the Developer has given a Default Notice, as defined herein, to the <br />City, which default the City do not cure within the period of time specified for <br />cure in the Default Notice; <br />11 <br />15785832v23 <br />