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ARTICLE V. REMEDIES. Section 1. Notice of Default. In the event of any default under or breach of any of the terms or conditions of this Agreement by either party hereto, or any successor or assign of, or successor in interest to, the property, such party or successor shall upon written notice from the other proceed to remedy or cure such default or breach within fifteen (15) days after receipt of such notice. In case such action is not taken or diligently pursued or the default or breach shall not be cured or remedied within a reasonable time, the aggrieved party may institute such proceedings as may be necessary or desirable in its opinion to cure or remedy such default or breach or to obtain damages therefor, including but not limited to proceedings to compel specific performance by the party in default or breach of its obligations. Section 2. Termination by Public Body. In the event that the Agency does not tender conveyance ofthe Property or possession thereof in the manner and condi- tion, and by the date, provided this Agreement and any such failure shall not be cured within fifteen (15) days after written demand by the Public Body, then the Agreement shall, at the option of the Public Body, be terminated and neither the Agency nor the Public Body shall have any further rights against or liability to the other under the Agreement. Section 3. Termination by Agency. In the event that prior to conveyance of the property to the Public Body and in violation of this Agreement the Public Body (and any successor in interest) assigns or attempts to assign this Agreement or any rights herein or in the property, or the Public Body does not pay the Purchase Price for and take title to the Property upon proper tender of conveyance by the Agency pursuant to this Agreement, then this Agreement and any rights of the Public Body or any successor or assign of the Public Body or transferee of the Property under this Agreement or arising therefrom, with respect to the Agency or the Pro- perty shall at the option of the Agency be terminated by the Agency. In such event, except for the right of the Agency to damages for such breach afforded by law, neither the Public Body (or assignee or transferee) nor the Agency shall have any further rights against or liability to the other under this Agreement. Section 4. Delays Beyond Control of Parties. For the purposes of this Agree- ment, neither the Agency nor the Public Body, as the case may be, nor any successor -7-