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Agenda - Economic Development Authority - 04/07/2020
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Agenda - Economic Development Authority - 04/07/2020
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3/14/2025 3:38:45 PM
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4/6/2020 12:19:40 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
04/07/2020
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(1) The City may suspend its performance under this Agreement until it receives <br />assurances from the Developer, deemed adequate by the City, that the Developer will cure its <br />default and continue its performance under this Agreement. <br />(2) The City may cancel and rescind the Agreement. <br />(3) The City may take any action, including legal or administrative action, in law or <br />equity, which may appear necessary or desirable to enforce performance and observance of any <br />obligation, agreement, or covenant of the Developer under this Agreement. <br />Section 4.3 No Remedy Exclusive. No remedy herein conferred upon or reserved to the <br />City is intended to be exclusive of any other available remedy or remedies, but each and every <br />such remedy shall be cumulative and shall be in addition to every other remedy given under this <br />Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to <br />exercise any right or power accruing upon any default shall impair any such right or power or shall <br />be construed to be a waiver thereof, but any such right and power may be exercised from time to <br />time and as often as may be deemed expedient. <br />Section 4.4 No Implied Waiver. In the event any agreement contained in this <br />Agreement should be breached by any party and thereafter waived by any other party, such waiver <br />shall be limited to the particular breach so waived and shall not be deemed to waive any other <br />concurrent, previous or subsequent breach hereunder. <br />Section 4.5 Agreement to Pay Attorney's Fees and Expenses. Whenever any Event of <br />Default occurs and the City shall employ attorneys or incur other expenses for the collection of <br />payments due or to become due or for the enforcement or performance or observance of any <br />obligation or agreement on the part of the Developer herein contained, the Developer agrees that <br />it shall, on demand therefor, pay to the City the reasonable fees of such attorneys and such other <br />expenses so incurred by the City. <br />Section 4.6 Indemnification of City. <br />(1) The Developer releases from and covenants and agrees that the City, its governing <br />body members, officers, agents, including the independent contractors, consultants and legal <br />counsel, servants and employees thereof (hereinafter, for purposes of this Section, collectively the <br />"Indemnified Parties") shall not be liable for and agrees to indemnify and hold harmless the <br />Indemnified Parties against any loss or damage to property or any injury to or death of any person <br />occurring at or about or resulting from any defect in the Project, provided that the foregoing <br />indemnification shall not be effective for any actions of the Indemnified Parties that are not <br />contemplated by this Agreement. <br />(2) Except for any willful misrepresentation or any willful or wanton misconduct of <br />the Indemnified Parties, the Developer agrees to protect and defend the Indemnified Parties, now <br />and forever, and further agrees to hold the aforesaid harmless from any claim, demand, suit, action <br />or other proceeding whatsoever by any person or entity whatsoever arising or purportedly arising <br />from the actions or inactions of the Developer (or other persons acting on its behalf or under its <br />direction or control) under this Agreement, or the transactions contemplated hereby or the <br />acquisition, construction, installation, ownership, and operation of the Project; provided, that this <br />9 <br />12472188v2 <br /> <br />
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