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Agreement may result in substantial damages to the City; that in <br /> the event of default by the Developers, the City may commence <br /> legal action to recover all damages, losses and expenses sustained <br /> by the City; and that such expenses may include, but are not <br /> limited to, the reasonable fees of legal counsel employed with <br /> respect to the enforcement of this Agreement. <br /> 18 . Events of Default. <br /> a. Events of Default Defined. The following <br /> shall be "Events of Default" under this Agreement and the term <br /> "Event of <br /> Default" shall mean, whenever it is used in this Agreement, any <br /> one or more of the following events: <br /> 1 . Subject to unavoidable delays, failure by <br /> Developers to commence and complete <br /> construction of the Public Improvements <br /> pursuant to the terms, conditions and <br /> limitations of this Agreement . <br /> 2 . Failure by Developers to substantially <br /> observe or perform any material covenant, <br /> condition, obligation or agreement on their <br /> part to be observed or performed under this <br /> Agreement. <br /> b. Remedies on Default. Whenever any Event of <br /> Default occurs, the City, subject to any rights of third parties <br /> agreed to by the City pursuant to this Agreement, or otherwise by <br /> written, executed instrument of the City, may take any one or more <br /> of the following: <br /> 1 . The City may suspend its performance under <br /> Rev. 06/11/05 <br />