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Book: 4599 Page: 341 <br /> reimbursements set forth under Article IV above,unless such rights are expressly set forth <br /> in the instrument of assignment. <br /> 9.3 Status of Assignee. <br /> Any assignee of the Redeveloper prior to Substantial Completion,who is approved under <br /> the terms of 9.1 above, shall be considered the "Redeveloper" for all purposes of this <br /> Agreement as to such portion of the Project that has been assigned. <br /> 9.4 Assignment to Affiliated Entity. <br /> Nothing herein shall be construed to prevent the Redeveloper from assigning its interest in <br /> this Agreement to an affiliated entity owned or controlled by the Redeveloper or a majority <br /> of the owners of the Redeveloper, provided that such entity has the financial capacity to <br /> perform the obligations of the Redeveloper pursuant to this Agreement(though the City <br /> may not require any more financial capacity than that possessed by the Redeveloper on the <br /> date hereof) and such entity in writing assumes such obligations and conditions in <br /> compliance with the terms and conditions set forth in Section 9.1.2(a)through (d)of this <br /> Agreement. <br /> 9.5 No Release of Redeveloper. <br /> Any consent by the City to any total or partial transfer of the Project or the Project Site <br /> shall not be deemed a release of the Redeveloper from any of its obligations hereunder,or <br /> from any conditions or restrictions to which the Redeveloper is subject, unless the <br /> Redeveloper is expressly released in writing by the City. <br /> ARTICLE X: DEFAULT AND REMEDIES <br /> 10.1 Events of Default. <br /> The following shall be events of default (the "Events of Default") with respect to this <br /> Agreement: <br /> 10.1.1 Misrepresentation. <br /> If any material representation made by the Redeveloper or the City in this <br /> Agreement, or in any certificate, notice, demand or request made by the <br /> Redeveloper or the City in writing and delivered to the other party pursuant to or <br /> in connection with any of said documents shall prove to be untrue or incorrect in <br /> any material respect as of the date made;or <br /> 10.1.2 Breach. <br /> Breach by the Redeveloper, Project Site Owner, or the City of any material <br /> covenant,warranty or obligation set forth in this Agreement. <br /> 10.2 Remedies Upon Default. <br /> In the case of an Event of Default by any party hereto or any successors to such party,such <br /> party or successor shall,upon written notice from the other party,take immediate action to <br /> cure or remedy such Event of Default within sixty(60)days after receipt of such notice(or <br /> within a reasonable time if the Event of Default cannot be diligently cured within such <br /> sixty(60)day period). If,in such case action is not taken,or not diligently pursued,or the <br /> Event of Default shall not be cured or remedied within a reasonable time,the aggrieved <br /> party may institute such proceedings as may be necessary or desirable in its opinion to cure <br /> City of Decatur/LIAISON HOME AUTOMATION,LLC 15 <br />