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07-26-2004
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07-26-2004
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MV EDA
EDA Document Type
Council Packets
Date
7/26/2004
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<br /> 1664674v2 8 <br />(a) The Authority may suspend its performance under this Agreement until it <br />receives assurances from the Developer, deemed adequate by the Authority, that the <br />Developer will cure its default and continue its performance under this Agreement. <br />(b) The Authority may cancel and rescind the Agreement. <br />(c) The Authority may take any action, including legal or administrative <br />action, in law or equity, which may appear necessary or desirable to enforce performance <br />and observance of any obligation, agreement, or covenant of the Developer under this <br />Agreement. <br />Section 4.3. No Remedy Exclusive. No remedy herein conferred upon or reserved to <br />the Authority is intended to be exclusive of any other available remedy or remedies, but each and <br />every such remedy shall be cumulative and shall be in addition to every other remedy given <br />under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or <br />omission to exercise any right or power accruing upon any default shall impair any such right or <br />power or shall be construed to be a waiver thereof, but any such right and power may be <br />exercised from time to time and as often as may be deemed expedient. <br />Section 4.4. No Implied Waiver. In the event any agreement contained in this <br />Agreement should be breached by any party and thereafter waived by any other party, such <br />waiver shall be limited to the particular breach so waived and shall not be deemed to waive any <br />other concurrent, previous or subsequent breach hereunder. <br />Section 4.5. Agreement to Pay Attorney's Fees and Expenses. Whenever any Event of <br />Default occurs and the Authority shall employ attorneys or incur other expenses for the <br />collection of payments due or to become due or for the enforcement or performance or <br />observance of any obligation or agreement on the part of the Developer herein contained, the <br />Developer agrees that it shall, on demand therefor, pay to the Authority the reasonable fees of <br />such attorneys and such other expenses so incurred by the Authority. <br />Section 4.6. Indemnification of Authority. <br />(1) The Developer releases from and covenants and agrees that the Authority and the <br />City, their governing body members, officers, agents, including the independent contractors, <br />consultants and legal counsel, servants and employees thereof (hereinafter, for purposes of this <br />Section, collectively the "Indemnified Parties") shall not be liable for and agrees to indemnify <br />and hold harmless the Indemnified parties against any loss or damage to property or any injury to <br />or death of any person occurring at or about or resulting from any defect in the Project. <br />(2) Except for any willful misrepresentation or any willful or wanton misconduct of <br />the Indemnified Parties, the Developer agrees to protect and defend the Indemnified Parties, now <br />and forever, and further agrees to hold the aforesaid harmless from any claim, demand, suit, <br />action or other proceeding whatsoever by any person or entity whatsoever arising or purportedly <br />arising from the actions or inactions of the Developer (or if other persons acting on its behalf or <br />under its direction or control) under this Agreement, or the transactions contemplated hereby or <br />the acquisition, construction, installation, ownership, and operation of the Project; provided, that <br />this indemnification shall not apply to the warranties made or obligations undertaken by the City
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