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Kurt Ulrich <br />COR Apartments - Development Proposal and Terms of Development Agreement and Other Obligations <br />December 14, 2010 <br />Page 6 <br />g. <br />iv. Developer default in timely reimbursement to the Cite for costs associated with the way finding <br />and stall designation signage in the parking ramp expansion. <br />v. The holder of any mortgage on the property commences foreclosure proceedings. <br />vi. Developer filing any petition for bankruptcy or reorganization. <br />vii. Failure of Developer to pay real estate taxes or special assessments. <br />Remedv of Default. If the Developer (or the construction lender) does not cure various events of <br />default as provided for in the various agreements, the City and/or HRA may terminate the <br />Development Agreement, Loan Agreement and TIF Note. <br />Please contact me at 651-697-8506 with any questions. <br />