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9 419290v2 LN140 -109 and represents that there are no other pending or outstanding special assessments against the Property. 1 4 .0. Brokerage . Developer and EDA each represent and warrant to the other that they have not engaged the services of any broker in connection with the purchase contemplated by this Agreement. Each party hereby agrees to indemnify and hold the other harmless of any claim made by a broker or sales agent or similar party for a commission due or alleged to be due on this transaction. 1 5 .0 Default . The following default provisions govern this Agreement. 1 5 .1. Events of Default Defined . The following shall be “Events of Default” under this Agreement and the term “Event of Default” shall mean, whenever it is used in this Agreement (unless the context otherwise provides), any failure by any party to observe or perform any other covenant, c ondition, obligation or agreement on its part to be observed or performed hereunder, but only if such failure has not been cured within thirty days after receipt by the defaulting party of written notice of such failure or, if the failure is by its nature incurable within thirty days, the defaulting party does not provide assurances reasonably satisfactory to the non -defaulting party within such thirty -day period that the failure will be cured and will be cured as soon as reasonably possible. Subject to th e foregoing notice and cure periods, nothing in this Section shall limit the EDA’s right to exercise any remedy to which it is entitled under any other provision of this Agreement. 1 5 .2. Remedies on Default . Whenever any Event of Default referred to i n Paragraph 1 5 .1 of this Agreement occurs, the non -defaulting party may: (a) Suspend its performance under this Agreement until it receives assurances that the defaulting party will cure its default and continue its performance under this Agreement. (b) Cancel and rescind or terminate this Agreement. In the event that EDA should fail to consummate the transaction contemplated by this Agreement for any reason except for Developer’s default or the failure of Developer to satisfy any conditions to EDA’s obligation hereunder, and Developer elects to cancel and terminate this Agreement in the manner provided by applicable law and be relieved of its obligations hereunder, Developer shall be immediately entitled to the return of the Purchase Price deposited by Developer under Section 3.0 in exchange for a quit claim deed for the Property. In the event that Developer shall fail to consummate the transaction contemplated herein for any reason, except the default by EDA or the failure of EDA to satisfy any of t he conditions to the Developer’s obligations set forth herein, and the EDA elects to cancel and terminate this Agreement in the manner provided by applicable law and be relieved of its obligations hereunder, the EDA shall be entitled to retain the Purchase Price as liquidated damages. (c ) Take whatever action, including legal, equitable, or administrative action, which may appear necessary or desirable to collect any payments due under