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" � ' � . Hooks 3855 Ragea 454 <br /> r ' <br /> responsive bidder requirements. Absent such an agreement, this Agreement shall be <br /> null and void. <br /> 8. Material failure of delay by either City or Owner to timely perform any term or <br /> provision of this agreement shall constitute an "event of default" under this agreement. <br /> The party who so fails or delays must, upon receipt of written notice of the existence of <br /> such event of default, cure, correct or remedy such event of default, within thirty (30) <br /> days after having been given such notice. If the event of default is one which cannot <br /> be reasonably cured within a thirty (30) day period, upon request and with the <br /> appropriate showings the cure period shall be extended for such time as is reasonably <br /> necessary for the curing of the same, so long as there is diligent proceeding to cure <br /> such event of default. If an event of default is cured within either the original thirty (30) <br /> day period or a reasonable extension thereof; the event of default shall not be deemed <br /> a "default" under this agreement. An event of default not cured as provided herein <br /> shall constitute a default under this agreement. Any failure or delay by either party in <br /> asserting any of its rights or remedies as to any event of default or default shall not <br /> operate as a waiver of any such event of default or default. <br /> The sole remedy of Owner in the event of default by City shall be to institute <br /> legal action against City for specific performance or other equitable relief. Under no <br /> circumstances shall City be subject to any monetary liability or be liable for damages <br /> (compensatory or punitive) under the terms of this agreement. <br /> Owner's failure to cure, correct or remedy any event of default shall constitute <br /> default under the terms of this agreement. Upon Owner's default under the terms of the <br /> agreement, Owner shall be indebted to City for the full sum of moneys advanced by <br /> City under this agreement, which sums shall be immediately due and payable to City. <br /> 9. All notices, demands, requests, consents, approvals of other instruments <br /> required or permitted under this agreement shall be in writing and shall be executed by <br /> the party or an officer, agent or attorney of the party and shall be deemed effective as <br /> of the date of actual delivery, if delivered personally, or as of the third (3�d) day from <br /> and including the date of posting, if mailed by registered or certified mail, return receipt <br />