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<br />HN: 35SKl PG: 514
<br />i1c; Violal ion. In the evenl a1 vialation cell this Agreerreni by the Cwner, the Developer, or
<br />arty of their heirs, SL acessons or assign:i, 1 h e City sh all have t h e right to rellL se to issL a fur h er t L ilding perrr ii s,
<br />Final Developrreirit Orders, or aerificates of occLpancy or certificates of corrple'ion, all as the case rray be,
<br />lirrilec as to that phase of ❑eRelopment, on Rlat of ifal phases of the ❑e%eloprr ent wtere the vialal ion is
<br />applicat le, all L n1 it sL ah tirra and event as all such violatiori(s; ane correciec grid that phase of Developrr ent of
<br />the Real Rnoclery is brought into (iorrpliaricee with this Aclreerrent, aplplicablee law, ondinances, reisalutions, arid
<br />the Land ❑e%eloprrent Cac e. The City shall be neat ired to rioliae the \ iolaton with a riotice of the nature of the
<br />vialation arc afilord a reasonat le period to cure ih e r iolatioriijs) before withholc ing bL ildirig permits, Final
<br />Da%elopment Orcers, or cerilliaaies o1 ocae.pancy on ciertificates of compleiicri relating to the phase cd
<br />❑eRelopment and nat ilo the vialation itself. The City is a0torized by itis Agneerreirei to use any fcmrr of code
<br />erillaraemeril la assure ceorifarmarice with lh is Agneemeril.
<br />ARTICLE V
<br />ENCUMBRANCES ANC! RELEASES ON REAL RROPERTY
<br />S ectie ri 6.1. Discretic ri to Bricum ben. Tt a paries h erelce agnee that this Agreement shall noel pneverl
<br />or lirrii i h e Ownen ora DEN elopen in any rrannen al said iridividL al's sole discretion, from ericL rrbering 4e e Real
<br />Rnorledy or any porion of ari} irr pro\ err erl thereon t y ariy mortgage on other security de\ ice seaL ring
<br />financing wilt nesrlecit to thea saner pnoviced, that said mortgagee or other seaLrily device shall be released on
<br />satisfied as to said property prior to or simLllarisous with its cori�eyariaee or dedication to thea Clily on an
<br />incorporated properly owrlff's, homeowrier's on aondominiurr associatiori. The Clily acknowlecges that the
<br />lenders' providing such financing may regL ire cer ain modilliaaiioris, arid the City agnees, L pon regL est, fram
<br />time io limes, to meeet wi'h 'he Ownen ar a ❑e\elopen and/or nerlreiseiriialives Oil sLah lericers to negoliale in
<br />good faith any such regLeest for modiliaatiori; rlro� ided, that this Agreement shall not regL ire the City's
<br />acguiescerice to an} action or nesolulion of a dispute or claim. Any mortgages on teneficiaries oil a secLriiy
<br />insi rL merit shall be entitled to the rights grid Klri\ ileges set for h in this ar icle.
<br />Secticn 5.2. Bntitllemerit to Written Notice etl Default. The halden of a mortgage or other security
<br />interest, aric their sLacessors aric assigns, ericeLrrtering the Real Rrapery, on any part thereof, whish
<br />indivic ual, successor or assign, has negueslec in writing to i h e City, stall to entiilled to recei%e written
<br />riolificaiion 11nom the City of any default by Cwnen on a De�elopen in the perforrrance of saic indivicLal's
<br />obligations L rider this Agreement wh iah of ligations are not cured within th it y (30) c ays; pro\ ided, that the
<br />failure 1a gi%a saic notice shall nae waive any default al, ar action to erifonce, this Agreerrerrl by the City.
<br />Sectic n 5.3. Property S ublect tc Rre Rata Claims. Any mortgagee or h older of a secunity interesil
<br />who cones into possession of the Real Properly, on ariy dart hereof, rJ rsLaril to foreclosure of marigages ar
<br />Ott er secunily interest or c eied in IieL of SL ah foreclosune, Eel all take or foreclose upori the Real Property, or ariy
<br />par thenecil, SL bjecl to -It is Agraerrent aric to any Flra ratla claims for Kla}merits or charges by the Clity against
<br />Ihei REial Property, or any par theneal, seiceLred by SL Cit mortgage or other securit} deice which accrued pnior
<br />to the time such morclage on halden of a security interesl comes into rlossessiori of the Real Property or part
<br />i h ereof.
<br />Sect ic n 5.4. Releasee. 11t City hereby aa�ariants and agnees that L pon pay merit of all fees requinec
<br />unden this Agreerreni with respecit io'Ihe Real Propert}, or any porion ItEireof, and perforrrance of otligatiaris
<br />relating thereto (including corrpletion of performaricia cell continuing obliga-lions), ty the Cwrier Lpon request by
<br />Iha Ownen, the City ,it all consicer e)eaLlion and deli%ery to Clenk of the COLrl of ariy appropriate releaseQs) of
<br />fL rlhen obligations as to a riEldicL lar aric affecited portion of lh e Real Property in form and sL ballanaa
<br />acceptable to the Clerk of the Court, on as may otherwise be necessary la efilecl sLch nelease; provided, that
<br />th a tlonegoing provision Eihall riot regL ire ih e City to release ari} prop i:iion of th is Agnearraril from Lea, density,
<br />Intensity, type of Develapmerii, or other requinements of this Agreement. This section shall nol be lenminalec
<br />upon the lenminatian ar release of 1h is Agreement with regarc to any por ion oll ih a Real Rnapery.
<br />SebaEftiaridAririeualior 1 ELA gt Firal C L EA t
<br />ARTICLE VI
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