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c) Owners fail to malte 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 /> f� Owners have engaged in any conduct that has or may expose City to <br /> liability, as determined in City'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 /> 41.Any notice required under this Agreement shall be sent to the following <br /> addresses: <br /> TO CITY: TO OWNERS: <br /> CITY OF DECATUR Woodford Homes, Inc. <br /> Attn: Director, EUD Attn: Tim Haworth,Administrator <br /> One Gary K.Anderson Plaza 132 South Water, Suite 604 <br />' Decatur, IL 62523 Decatur, IL 62523 <br /> 42. 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 /> 43. If Owners shall fail to comply with the property maintenance standards and <br /> affordability period requirements set forth herein, Owners shall become <br /> obligated to promptly repay all loan proceeds received, and this Agreement <br /> shall thereafter be terminated. <br /> 44. No officer, employee or agent of the City who exercises any functions or <br /> responsibilities with respect to the carrying out of the program shall have any <br /> interest, direct or indirect, in this Agreement or proceeds thereof as prescribed <br /> in 24 CFR 92.356 Section F and Section 85.36. <br /> 8 <br />