R2024-03 Resolution Authorizing a TIF Redvelopment Agreement between the City of Decatur and County Line Plaza, LLC

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that such entity or its guarantors has the financial capacity to perform the obligations of the Redeveloper pursuant to this Agreement and such entity in writing assumes such obligations and conditions in compliance with the terms and conditions set forth in Section 9.1.2(a)through(d)of this Agreement. 9.5 No Release of Redeveloper. Any consent by the City to any total or partial transfer of the Project or the Project Site shall not be deemed a release of the Redeveloper from any of its obligations hereunder, or from any conditions or restrictions to which the Redeveloper is subject,unless the Redeveloper is expressly released in writing by the City. ARTICLE X: DEFAULT AND REMEDIES 10.1 Events of Default. The following shall be events of default(the"Events of Default")with respect to this Agreement: 10.1.1 Misrepresentation. If any material representation made by the Redeveloper or the City in this Agreement, or in any certificate, notice, demand or request made by the Redeveloper or the City in writing and delivered to the other party pursuant to or in connection with any of said documents shall prove to be untrue or incorrect in any material respect as of the date made;or 10.1.2 Breach. Breach by the Redeveloper or the City of any material covenant,warranty or obligation set forth in this Agreement. 10.2 Remedies Upon Default. In the case of an Event of Default by either party hereto or any successors to such party, such party or successor shall,upon written notice from the other party,take immediate action to cure or remedy such Event of Default within sixty(60)days after receipt of such notice(or within a reasonable time if the Event of Default can not be diligently cured within such sixty(60)day period). If,in such case action is not taken,or not diligently pursued, or the Event of Default shall not be cured or remedied within a reasonable time, the aggrieved party may institute such proceedings as may be necessary or desirable in its opinion to cure or remedy such Event of Default,including but not limited to,proceedings to compel specific performance by the party in default of its obligations. In case the City or the Redeveloper shall have proceeded to enforce its rights under this Agreement and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the party initiating such proceedings,then and in every such case the Redeveloper and the City shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Redeveloper and the City shall continue as though no such proceedings had been taken. 10.3 Other Rights and Remedies of City and Redeveloper: Delay in Performance Waiver. 10.3.1 No Waiver by Delay. Any delay by the City or the Redeveloper in instituting or prosecuting any actions or proceedings or otherwise asserting their rights under this Agreement shall not operate to act as a waiver of such rights or to deprive them of or limit such rights in any way(it being the intent of this provision that the City or the Redeveloper should not be constrained so as to avoid the risk of being deprived of or limited in the exercise of the remedies provided in this Agreement because of concepts of waiver, laches or otherwise); nor shall any waiver in fact City of Decatur/County Line Plaza Redevelopment Agreement 13