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6. EVENTS OF DEFAULT AND REMEDIES <br /> Material failure or delay by either the Municipality or Developer to timely perform any <br /> term or provision of this Agreement shall constitute an "event of default" under this Agreement. The <br /> party who so fails or delays must,upon receipt of written notice of the existence of such event of default, <br /> immediately commence to cure, correct or remedy such event of default and thereafter proceed with <br /> diligence to cure such event of default. The party claiming such event of default shall give written notice <br /> of the claimed event of default to the other party specifying the event of default complained of. Except <br /> as required to protect against immediate, ineparable harm,the party asserting an event of default may not <br /> institute proceedings against the other party until thirty (30) days after having given such notice. If such <br /> event of default is cured within such thirty (30) day period, the event of default shall not be deemed to <br /> constitute a "default" under this Agreement. If the event of default is one which cannot reasonably be <br /> cured within a thirty (30) day period, upon request and with appropriate showings the cure period shall <br /> be extended for such time as is reasonably necessary for the curing of the same, so long as there is <br /> diligent proceeding to cure such event of default. If such event of default is cured within such extended <br /> period, the event shall not be deemed to constitute a default under this Agreement. However, an event of <br /> default not cured as provided above shall constitute a default under this Agreement. Except as otherwise <br /> expressly provided in this Agreement, any failure or delay by either party in asserting any of its rights or <br /> remedies as to any event of default or default shall not operate as a waiver of any such event of default or <br /> default of any rights or remedies it may have as a result of such event of default or default. <br /> The sole remedy of the Developer in the event of a default by the Municipality under any <br /> of the terms and provisions of this Agreement shall be to institute legal action against the Municipality <br /> for specific performance or other appropriate equitable relief. Under no circumstances shall the <br /> Municipality be subject to any monetary liability or be liable for damages (compensatory or punitive) <br /> under the provisions, terms and conditions of this Agreement. Except as to the foregoing, the parties <br /> shall have all remedies with respect to this Agreement available under applicable law. Notwithstanding <br /> anything herein to the contrary, the Municipality shall be liable for no amount hereunder in excess of <br /> Incremental Taxes duly deposited into the Special Account. <br /> 7. LIMITED LIABILITY TO OTHERS <br /> Except as otherwise expressly provided herein, the Municipality shall not be obligated to <br /> make any payments to any person other than the Developer, nor shall the Municipality be obligated to <br /> pay any contractor, subcontractor, mechanic, materialman providing services or materials to the <br /> Developer for or in respect of the Development Project. <br /> 8. TIME; UNAVOIDABLE DELAY <br /> Time is of the essence of this Agreement. Provided,however, the Developer shall not be <br /> deemed in default with respect to any obligations under this Agreement on its part to be performed if the <br /> Developer fails to timely perform the same and such failure is due in whole or in part to any strike, <br /> lockout, labor trouble (whether legal or illegal), civil disorder, inability to procure materials, weather <br /> conditions, wet soil conditions, failure or interruption of power, restrictive governmental laws and <br /> regulations, condemnation, riots, insurrections, war, fuel shortages, accidents, casualties, Acts of God, <br /> acts caused directly or indirectly by the Municipality(or the Municipality's agents or, employees) or third <br /> parties, or any other similar cause beyond the reasonable control of Developer, including but not limited <br /> to delays in acquiring interests in or possession of real estate caused by the parties who are contractually <br /> obligated to convey and grant to the Developer, for which the Developer shall have a day for day <br /> 4 <br />