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9.3 Status of Assignee. Any assignee of the Redeveloper prior to Substantial <br /> Completion, who is approved under the terms of 9.1 above, shall be considered the <br /> "Redeveloper" for all purposes of this Agreement as to such portion of the Project <br /> that has been assigned. <br /> 9.4 Assignment to Aftiliated Entity. Nothing herein shall be construed to prevent the <br /> Redeveloper from assigning its interest in this Agreement to an affiliated entity <br /> owned or controlled by the Redeveloper or a majority of the owners of the <br /> Redeveloper, provided that such entity or its guarantors has the financial capacity to <br /> perform the obligations of the Redeveloper pursuant to this Agreement and such <br /> entity in writing assumes such obligations and conditions in compliance with the <br /> terms and conditions set forth in Section 9.1.2(a)through(d) of this Agreement. <br /> 9.5 No Release of Redeveloper. Any consent by the City to any total or partial transfer <br /> of the Project or the Project Site shall not be deemed a release of the Redeveloper <br /> from any of its obligations hereunder, or from any conditions or restrictions to which <br /> the Redeveloper is subject, unless the Redeveloper is expressly released in writing by <br /> the City. <br /> ARTICLE X: DEFAULT AND REMEDIES <br /> 10.1 Events of Default. The following shall be events of default(the 'Bvents of Default") <br /> with respect to this Agreement: <br /> 10.1.1 Misrepresentation. If any material representation made by the Redeveloper <br /> or the City in this Agreement, or in any certificate, notice, demand or request <br /> made by the Redeveloper or the City in writing and delivered to the other <br /> party pursuant to or in connection with any of said documents shall prove to <br /> be untrue or incorrect in any material respect as of the date made; or <br /> 10.1.2 Breach. Breach by the Redeveloper or the City of any material covenant, I <br /> warranty or obligation set forth in this Agreement. ' <br /> 10.2 Remedies Upon Default. In the case of an Event of Default by either party hereto or � <br /> any successors to such party, such party or successor shall, upon written notice from <br /> the other party, take immediate action to cure or remedy such Event of Default within <br /> sixty (60) days after receipt of such notice(or within a reasonable time if the Event of <br /> Default cannot be diligently cured within such sixty (60) day period). If, in such case <br /> action is not taken, ar not diligently pursued, or the Event of Default shall not be <br /> cured or remedied within a reasonable time, the aggrieved party may institute such <br /> proceedings as may be necessary or desirable in its opinion to cure or remedy such <br /> Event of Default. In case the City or the Redeveloper shall have proceeded to enforce <br /> its rights under this Agreement and such proceedings shall have been discontinued or <br /> abandoned for any reason or shall have been determined adversely to the party <br /> initiating such proceedings, then and in every such case the Redeveloper and the City <br /> shall be restored respectively to their several positions and rights hereunder, and all <br /> rights, remedies and powers of the Redeveloper and the City shall continue as though <br /> no such proceedings had been taken. <br /> CITY OF DECATUR/FirsTech Red.Agreement 14 <br />