Agenda - Council - 09/26/2023 - Laserfiche WebLink

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Overall Parcel is located, or such other jurisdiction as may be agreed to between the Parties, in order to enforce the rights and remedies available to the Non -Defaulting Party. 6.03. Obstruction Events. Notwithstanding anything to the contrary contained in this Agreement, in the event vehicular access to the Aldi Property is obstructed due to an obstruction on the City Property (including, but not limited to, the Critical Access Drive) or an activity of an City Permittee (each such event, a "City Obstruction Default"), Aldi may notify City by any means reasonable under the circumstances, including via email or telephone, of the City Obstruction Default and demand that the City Obstruction Default be remedied. If, after 24 hours after such notice has been provided, City has not (i) remedied the City Obstruction Default or (ii) commenced to remedy the City Obstruction Default and thereafter remedied such City Obstruction Default within 24 hours, Aldi shall have the right (but not the obligation) to remedy the City Obstruction Default (including the right to enter upon the City Property) and shall be reimbursed by City for the reasonable costs for such remedy in accordance with the provisions of Section 6.02(a) above. Further and notwithstanding anything to the contrary contained in this Agreement, in the event vehicular access to the City Property is completely obstructed due to an obstruction on the Aldi Property or an activity of an Aldi Permittee (each such event, an "Aldi Obstruction Default"), City may notify Aldi by any means reasonable under the circumstances, including via email or telephone, of the Aldi Obstruction Default and demand that the Aldi Obstruction Default be remedied. If, after 24 hours after such notice has been provided, Aldi has not remedied the Aldi Obstruction Default or commenced to remedy the Aldi Obstruction Default and thereafter remedies such Aldi Obstruction Default within 24 hours, City shall have the right (but not the obligation) to remedy the Aldi Obstruction Default (including the right to enter upon the Aldi Property) and shall be reimbursed by Aldi for the reasonable costs for such remedy in accordance with the provisions of Section 6.02(a) above. 6.04. Interest; Lien. All amounts owing under this Agreement that are not timely paid shall accrue interest ("Interest") thereon from and after the due date at the lower of (i) the rate of 12% per annum, or (ii) the maximum rate permissible from time to time under applicable law. To the maximum extent permitted by applicable law, any amount owed under this Agreement constitutes a lien against the Property of the obligated Party. Any provision of this Agreement to the contrary notwithstanding, all liens established hereby shall be in all respects subject and subordinate to the lien of any mortgages or deeds of trust existing prior to the date the charge giving rise to such lien became due and payable. ARTICLE VII Notices; Notice of Transfer 7.01. Notices. Any notice or other communication required or permitted to be given to a Party under this Agreement shall be in writing and shall be deemed effective upon delivery (or refusal of delivery) when transmitted by one of the following methods to such Party at the address set forth at the end of this Section 7.01: (a) via a nationally recognized overnight delivery service (such as FedEx or UPS); or (b) by certified mail, postage prepaid, return receipt requested. Either Party may change its address for notice by giving written notice thereof to the other Party at least 10 business days prior to the effective date of such change of address. The address of each Party for notice initially is as follows: (a) If intended for City, to: 7