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32.The occurrence of any one or more of the following events shall constitute <br /> cause for the City to declare Owners in default of their obligations under this <br /> Agreement: <br /> a) Owners fail to perform, to City's satisfaction, any material requirement of <br /> this Agreement, or are in violation of a material provision of this <br /> Agreement; <br /> b) City determines that satisfactory performance of this Agreement is <br /> substantially endangered or that a default is likely to occur; <br /> c) Owners fail to make substantial and timely progress toward performance <br /> of the Agreement; <br /> d) Owners become subject of any bankruptcy or insolvency proceeding; <br /> terminate or suspend their operations; become for any reason financially <br /> insolvent or unable to pay their bills; <br /> e) Owners have failed to comply with applicable federal, state and local <br /> laws, rules, ordinances, regulations and orders when performing within <br /> the scope of this Agreement; <br /> � Owners have engaged in any conduct that has or may expose City to <br /> liability, as determined in Cit�s sole discretion; <br /> g) If there is default caused by Owners, City shall provide written notice to <br /> Owners requesting that the breach or noncompliance be remedied within <br /> the period of time specified in the City's written notice to Owners. If the <br /> breach or noncompliance is not remedied by the date of the written <br /> notice, the City may either: i) immediately terminate the Agreement <br /> without additional written notice; ii) enforce the terms and conditions of <br /> the Agreement, and seek any legal and equitable remedies, or iii) declare <br /> all amounts paid hereunder immediately due and payable, and terminate <br /> City's obligation to make additional payments hereunder. <br /> 33.Any notice required under this Agreement shall be sent to the following <br /> addresses: <br /> TO CITY: TO OWNERS: <br /> CITY OF DECATUR Nick G. Striglos <br /> Attn. Director, Development Services 150 East William Street <br /> One Gary K.Anderson Plaza Decatur, Illinois 62523 <br /> Decatur, IL 62523 <br /> 34. If Owners' interest in the property shall be in any way transferred without <br /> City's prior written consent, Owners shall become obligated to promptly repay <br /> all loan proceeds received, and this Agreement shall thereafter be terminated. <br /> 5 <br />