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Section 16. Expiration and Termination. 16.1. Expiration and Termination: Unless sooner canceled pursuant to Sections 16.2, 16.3, 16.4 or 16.5 of this Section, this Agreement shall be effective on the date hereof and shall be extended automatically for successive periods of one (1) year unless either the Owner or the Managing Agent provide written notice ninety (90) days prior to expiration of then -current term indicating their intention to have this Agreement terminate. This Agreement shall not be deemed complete unless and until this Agreement has been approved in writing by the Public Agencies. 162 Termination by Mutual Consent. This Agreement may be terminated by the mutual written consent of the Owner and the Agent only with the prior written consent of , the MPHA and the City. 163. Termination by Owner for Cause. In the event that the Agent shall fail to perform any of its duties hereunder or comply with any of the provisions hereof, the Owner may terminate this Agreement for cause upon Owner's thirty (30) days written notice to the Agent. 164. Termination Because of Bankruptcy. In the event that a petition in bankruptcy is filed by or against either the Owner or the Agent, or in the event that either shall make as assignment for the benefit of creditors to take advantage of any insolvency act either party hereto may immediately terminate this Agreement without notice, but prompt advice of such action shall be given to the other party. 165. Termination by MPHR. In the event the MPHA determines that the Agent has violated, breached, or failed to comply with a provision of, or obligation under, the Housing Covenants, it shall so notify the Owner in writing and the Owner shall immediately so notify the Agent and this Agreement shall terminate within thirty (30) days of receipt by the Agent of such notification. 15 MANAGEMENT AGREEMENT