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Developer in writing of the costs and expenses it incurs in its <br />attempt to cure the default and the Developer must reimburse the <br />City for those costs and expenses within five (5) business days of <br />the Developer's receipt of the notice stating the amount of the <br />costs and expenses. <br />(e) The City may cancel and rescind or terminate this <br />Amendment to Development Agreement and /or any portion of the <br />Original Development Agreement which has not been complied <br />with, by written notice to the Developer. <br />(f) In the event of a default by Developer, the City, in addition <br />to any other remedies, shall be entitled to reimbursement of its <br />administrative, legal and other costs relative to the establishment of <br />the TIF District, and the negotiation of the Development <br />Agreement and this Amendment thereto, in a total amount of at <br />least $50,000.00. The Developer shall be liable for such amount, <br />in addition 'w ivv vivYvt 'o vuivi vuiisutivua w CiI.J including, but <br />not limited to, the Guaranties set forth in Section 7.1 of this <br />Amendment to Development Agreement. In the event of a default <br />by either party, Developer shall not be entitled to reimbursement of <br />any of its costs or expenses related to improvements made to or <br />upon the Phase I or Phase II Property, and any such improvements <br />made upon the Phase II Property shall be forfeited by Developer. <br />(g) In the event that subsequent to the conveyance of the Phase <br />II Development Property by the City, the Developer defaults under <br />this Amendment to Development Agreement or the Original <br />Development Agreement, the City shall have the right to reenter <br />and take possession of the Phase II Development Property and to <br />terminate and revest in the City the estate conveyed by the Deed to <br />the Developer for the Phase II Development Property. It being the <br />intent of this provision that the conveyance of the Phase II <br />Development Property to Developer shall be made upon, and the <br />Deed shall contain a condition subsequent to the effect that upon <br />the occurrence of a default by Developer the City will have the <br />option to declare a termination in favor of the City and all rights <br />and interests in and to the Phase II Development Property shall <br />revert to the City. The City's right of reverter is subordinate to <br />Developer's first mortgage lien on the Phase II Development <br />property. If required by Developer's Lender, the City will execute <br />a Subordination Agreement relative to the right of reverter in a <br />form acceptable to the lender. <br />9. The provisions of the Original Development Agreement are and shall remain in <br />full force and effect. In addition, with respect to Phase II, Developer shall be required to comply <br />7 <br />