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a. The City's remedies under Section 15.1 of the Master Development <br />Agreement are hereby modified as follows with respect to the Property: <br />(1) Default Notice. The City shall provide Secondary Developer with <br />Formal Notice of default by Master Developer under the terms of the Master <br />Development Agreement, if the default specifically relates to the construction of <br />improvements necessary for the Development of all or any portion of the <br />Property, at the same time the City gives notice to Master Developer, and <br />Secondary Developer shall have the same cure rights as Master Developer has <br />under the Master Development Agreement. For purposes of such Formal Notice, <br />Secondary Developer's address shall be 669 North medina Street, P.O. Box 8, <br />Loretto, MN 55357-0008 or to the City in accordance with the "Formal Notice" <br />provision in the Master Development Agreement. Notices shall be deemed to <br />have been duly given on the date of service if served personally on the party to <br />whom notice is to be given, or on the third day after mailing if mailed as provided <br />above; provided, that a notice not given as provided above is, if it is in writing, <br />deemed given if and when actually received by a party. <br />(2) Cure of Default. The City under Section 15.1(b) of the Master <br />Development Agreement grants Secondary Developer the right to provide the <br />City with assurances that Secondary Developer will cure Master Developer's <br />defaults under the Master Development Agreement that specifically relate to the <br />construction of improvements necessary for the Development of all or any portion <br />of the Property, and the right to perform Master Developer's obligations under the <br />Master Development Agreement that specifically relate to the construction of <br />improvements necessary for the Development of all or any portion of the Property <br />as contemplated in Section 15.1(b) of the Master Development Agreement. If the <br />City deems the assurances the Secondary Developer provides to be adequate and <br />the Secondary Developer commences and continues performance of Master <br />Developer's obligations under the Master Development Agreement in <br />conformance with such assurances, the City agrees not to suspend any work, <br />improvement or obligation to be performed by the City that is necessary for the <br />Development of all or any portion of the Property as a result of such Master <br />Developer default. For purposes of the various subsections of this Section 6(a), <br />the question of whether a default relates to the construction of improvements <br />necessary for the Development of all or any portion of the Property or a Phase <br />within the Property shall be based on a reasonable determination by the City. <br />(3) Limited Denial of Building Permits. Under Section 15.1(d) of <br />the Master Development Agreement, the City will not deny building permits for <br />buildings within the Property if the default under the terms of the Master <br />Development Agreement does not specifically relate to the construction of <br />improvements necessary for the Development of all or any portion of the Phase <br />or, if the default does specifically relate to the construction of improvements <br />necessary for the Development of the Property or if the default does specifically <br />relate to the construction of improvements necessary for the Development of the <br />Property until Secondary Developer has received notice and had an opportunity to <br />cure as provided above. The City agrees that Master Developer's default in the <br />8 <br />