Laserfiche WebLink
therein, however consummated or occurring, and whether voluntary or involuntary, shall <br /> operate legally or practically, to deprive or limit the City of any rights or remedies or <br /> controls regarding the Project and the construction thereof that the City would have had, <br /> had there been no such transfer. No such transfer shall be deemed to transfer any rights of <br /> the Developer to the reimbursements set forth under Article IV above, unless such rights <br /> are expressly set forth in the instrument of assignment. <br /> 8.3 Status of Assignee. <br /> Any assignee of the Developer prior to Substantial Completion,who is approved under the <br /> terms of 8.1 above,shall be considered the"Developer"for all purposes of this Agreement <br /> as to such portion of the Project that has been assigned. <br /> 8.4 Assignment to Affiliated Entity. <br /> Nothing herein shall be construed to prevent the Developer from assigning its interest in <br /> this Agreement to an affiliated entity owned or controlled by the Developer or a majority <br /> of the owners of the Developer, provided that such entity has the financial capacity to <br /> perform the obligations of the Developer pursuant to this Agreement(though the City may <br /> not receive any more financial capacity than that possessed by the Developer on the date <br /> hereof)and such entity in writing assumes such obligations and conditions in compliance <br /> with the terms and conditions set forth in Section 8.1.2(a)through(d)of this Agreement. <br /> 8.5 No Release of Developer. <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 Developer from any of its obligations hereunder, or <br /> from any conditions or restrictions to which the Developer is subject,unless the Developer <br /> is expressly released in writing by the City. <br /> ARTICLE IX:DEFAULT AND REMEDIES <br /> 9.1 Events of Default. <br /> The following shall be events of default (the "Events of Default") with respect to this <br /> Agreement: <br /> 9.1.1 Misrepresentation. <br /> If any material representation made by the Developer or the City in this <br /> Agreement,or in any certificate,notice,demand or request made by the Developer <br /> or the City in writing and delivered to the other party pursuant to or in connection <br /> with any of said documents shall prove to be untrue or incorrect in any material <br /> respect as of the date made;or <br /> 9.1.2 Breach. <br /> Breach by the Developer or the City of any material covenant, warranty or <br /> obligation set forth in this Agreement. <br /> 9.2 Remedies Upon Default. <br /> In the case of an Event of Default by either party hereto or any successors to such party, <br /> such party or successor shall, upon written notice from the other party, take immediate <br /> action to cure or remedy such Event of Default within sixty(60)days after receipt of such <br /> notice(or within a reasonable time if the Event of Default cannot be diligently cured within <br /> such sixty(60)day period). If, in such case action is not taken,or not diligently pursued, <br />