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within thirty (30) business days after the City or the HRA notifies Developer that Developer is <br />delinquent in the payment thereof. <br />11.1; <br />(f) Developer's breach of one or more of the restrictions set forth in Section <br />(g) Developer's failure to perform Developer's obligations under Section 11.4, <br />Section 12.1 or Section 14.14 if the City or the HRA gives Developer notice of the default and <br />Developer fails to cure the default within thirty (30) days after the effective date of the notice. <br />(h) The holder of any mortgage on the Development Property, or any portion <br />thereof, commencing foreclosure proceedings. <br />2695614v12 <br />(i) Developer's; <br />(i) Filing of any petition in bankruptcy or for any reorganization, <br />arrangement, composition, readjustment, liquidation, dissolution, or similar relief under <br />the United States Bankruptcy Act of 1978, as amended or under any similar federal or <br />state law; or <br />(ii) making an assignment for the benefit of its creditors; or <br />(iii) admission, in writing, that it is unable to pay its debts generally as <br />they become due; or <br />(iv) being adjudicated a bankrupt or insolvent; <br />(j) The filing of a petition or answer proposing the adjudication of Developer <br />as bankrupt or its reorganization under any present or future federal bankruptcy act or any <br />similar federal or state law in any court and such petition or answer not being discharged or <br />denied within ninety (90) days after the filing thereof; or <br />(k) The appointment of a receiver, trustee or liquidator of Developer or of the <br />Development Property, or part thereof, in any proceeding brought against Developer, and said <br />receiver, trustee or liquidator not being discharged within ninety (90) days after such <br />appointment. <br />Section 13.2 Remedies on Default. At any time after the occurrence of an Event of <br />Default as defined in Section 13.1 the City and the HRA may, in addition to any other rights the <br />City or the HRA may have at law or in equity, take any one or more of the following actions: <br />(a) The City and the HRA may suspend their performance under this <br />Development Agreement and the Loan Agreement until they <br />(i) receive assurances from Developer, deemed adequate by the City <br />and the HRA, that Developer will cure the default and continue its performance under <br />this Development Agreement, the Loan Agreement, Note No. 1 and Note No. 2; or <br />20 <br />