5781 - Laserfiche WebLink

Home Browse Search

the Commission shall, within thirty (30) days after written request by the Developer, provide the Developer with a written statement, indicating in adequate detail in what respects the Developer has failed to complete the Improvements in accordance with the provisions of the Agreement, the Plan or the Proposal or is otherwise in default, and what measures or acts will be necessary, in the opinion of the Commission, for the Developer to take or perform in order to obtain such certification. Section 15. Assiqnment. The rights, duties and obligations of this Agreement shall not be assignable by the parties hereto except by consent in writing of the parties to this Agreement. For purposes of this Section, a transfer of 33% or more of the partnership interest in Developer to any person or.entity not a partner in Developer on the date hereof, or the conversion of Developer to a limited partnership or other entity, shall be deemed an assignment of this Agreement. Section 16. Remedies. Except as otherwise provided in this Agreement, in the event of any default in or breach of this Agreement, or any of its terms or conditions, by any party hereto, or any successor to such party, such party (or successor) shall, upon written notice from any other party hereto, proceed immediately to cure or remedy such default or breach, and, in any event, within thirty (30) days after receipt of such notice, commence to cure or remedy such default; p~ovided that this cure provision shall not apply to Developer's obligations to make any payment of money called for by this Agreement. In case such 'action is not taken or not 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 and remedy such default or breach, including, but not limited to, proceedings to compel specific performance by the party in default or breach of its obligations. In addition, the Commission and/or the City may but shall not be required to, cure any default by Developer, and Developer shall immediately on demand reimburse them for all the costs of effecting such cure. The remedies set forth herein shall be in addition to the Commission's right to terminate the acquisition of the Acquired Property as set forth in this Agreement. Section 17. Notice and Demands. A notice, demand, or other communication required by this Agreement to be given by either party to the other shall be in writing and shall be sufficiently given or delivered if it is dispatched by certified United States First Class Mail, postage pre-paid, or delivered personally, and (a) in the case of the Developer is addressed to or delivered personally to Westover Center Partnership, 14522 South STL-6313