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fb.us.3166730.04 3 <br />b. Mounds View Home Improvement Loan Program Administration: The City shall pay <br />the Consultant Four Hundred Dollars ($400) for each closed loan. Consultant fees will <br />be charged to the City on a monthly basis. <br />The Consultant shall receive compensation for administering the MHFA Programs directly from <br />the Minnesota Housing Finance Agency and not from the City. <br /> <br /> 4. Termination. Notwithstanding any other provision hereof to the contrary, this <br />Agreement may be terminated as follows: <br /> <br />a. The parties, by mutual written agreement, may terminate this Agreement at any <br />time in which case the parties shall agree to the amount of fees payable to <br />Consultant. <br /> <br />b. The City may terminate this Agreement upon the breach by Consultant of any of <br />its material covenants contained herein, where such breach shall have continued <br />for a period of thirty (30) days following the receipt by Consultant of a written <br />notice from the City, specifying the alleged breach; provided, however, if the <br />nature of a non-monetary breach is such that Consultant cannot reasonably cure <br />same in the thirty (30) day period, Consultant shall not be deemed to be in breach <br />if it commences to cure within the thirty (30) day period, and diligently pursues <br />same to completion within ninety (90) days following receipt by Consultant of <br />such written notice. In the event of termination by the City hereunder, Consultant <br />shall be entitled to fees due to the date the notice of breach is sent by the City. <br /> <br />c. If Consultant or City (as applicable) (i) files a voluntary petition in bankruptcy <br />(ii) files a voluntary petition for reorganization under any bankruptcy law, statute <br />or regulation or other similar statute or regulation, (iii) is adjudicated a bankrupt, <br />(iv) makes an assignment for the benefit of creditors or applies for or consents to <br />the appointment of a receiver or trustee as part of or in conjunction with a <br />“creditor plan” with respect to any substantial part of its assets, or (v) a receiver or <br />trustee is appointed, or an attachment or execution levied with respect to any <br />substantial part of its assets, and said appointment is not vacated, or the <br />attachment or execution not released, within sixty (60) days, then this Agreement <br />shall, effective as of such date, without notice or further action by either party, <br />immediately terminate. <br /> <br />d. Consultant may terminate this Agreement upon the breach by City of any of its <br />material covenants contained herein, where such breach shall have continued for a <br />period of thirty (30) days following the receipt by City of a written notice from <br />Consultant, specifying the alleged breach; provided, however, if the nature of a <br />non-monetary breach is such that City cannot reasonably cure same in the thirty <br />(30) day period, City shall not be deemed to be in breach if it commences to cure <br />within the thirty (30) day period, and diligently pursues same to completion <br />within ninety (90) days following receipt by City of such written notice. In the <br />event of termination by Consultant hereunder. Consultant shall be entitled to <br />retain the entire fee under this Agreement.