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<br />{00149157 12} 27. <br />d. the City may deny building permits for buildings and may withhold approval of any <br />new phase proposed by the Developer, until the default is cured; <br /> <br />e. the City may at its sole option and in the case of a Developer breach perform the <br />work or improvements to be performed by the Developer, in which case the <br />Developer shall within 30 days after written billing by the City reimburse the City <br />for any costs and expenses incurred by the City. Alternatively, the City may <br />specially assess the cost and expenses against any and all of Developer’s Property <br />and Developer waives all procedural and substantive objections to the assessment. <br /> <br />f. If the Defaulting party’s default is the failure to perform one or more of its monetary <br />obligations under this Master Agreement, the City may commence an action against <br />the Defaulting party for monetary damages. <br /> <br />Notwithstanding anything else in this Section 13.11 to the contrary, if the Defaulting <br />party’s default is the failure to obtain an extension or renewal of a Letter of Credit or a replacement <br />Letter of Credit within 30 days of the date an existing Letter of Credit will expire or if applicable <br />law prevents the City from giving the notice of default described in this Section 13.11, the City <br />may exercise the remedies described above without prior notice to the Defaulting party and without <br />the Defaulting party having an opportunity to cure the Defaulting party’s default. If the City draws <br />on a Letter of Credit as a result of the Defaulting party’s failure to provide an extension or renewal <br />of a Letter of Credit or a replacement Letter of Credit the City may use the proceeds of the Letter <br />of Credit in the same manner and to the same extent the City may use proceeds of a draw on a <br />Letter of Credit and will remit unused proceeds of the Letter of Credit to the Defaulting party upon <br />the Defaulting party’s delivery to the City of a new Letter of Credit in the form and in the amount <br />this Master Agreement or any phase-specific subdivision agreement requires. Further <br />notwithstanding anything else in this Section 13.11 to the contrary, in the event that (i) the <br />Developer Option lapses, expires or is terminated as to any portion of the Owner’s Property and <br />(ii) Owner or a successor developer of a portion of the Owner’s Property assumes the obligations <br />of Developer hereunder pursuant to an assumption agreement acceptable to the City in its <br />reasonable discretion, Owner or such successor developer shall not be deemed in default hereunder <br />as a result of any then-uncured or future default by Developer. In addition, the City shall not <br />condition the issuance or granting of any permit, approval or consent requested by Owner or a <br />successor developer with respect to any portion of the Owner’s Property on the curing by <br />Developer of any then-existing default by Developer hereunder. <br /> <br />13.12 Developer’s Remedies Upon Default <br /> <br />If the City defaults in the performance of any of its obligations under this Master <br />Agreement, the Developer shall give the City notice of such default and the City shall have 30 <br />days to cure the default. If the City, after the notice to it by the Developer, does not cure the default <br />within such 30 day period, or such longer period as may be necessary if the default may not <br />reasonably be cured within such 30 day period, provided curative work has substantially within 30 <br />days of receipt of actual notice from Developer and City is exercising reasonable diligence in <br />pursuing cure of default, the Developer may avail itself of any remedies afforded by law and any <br />of the following non-exclusive remedies: