ORD 2158 - Laserfiche WebLink

SECTION 7. TERMINATION. 7.1 Termination Upon Completion of Project or Expiration of Term. This Agreement shall terminate upon the expiration of the Term or earlier as set forth in this section. Upon termination of this Agreement, either Party may cause a notice of such termination in a form satisfactory to the City Attorney to be duly recorded in the official records of Alameda County. 7.2 Termination Due to Default. After notice and expiration of the sixty (60) day cure period as specified in Section 6.3 above, if the default has not been cured or it is not being diligently cured in the manner set forth above,the noticing Party may, at its option, give notice of its intent to terminate this Agreement pursuant to the Development Agreement Statute ("Notice of Intent to Terminate"). Within thirty (30)days of receipt of a Notice of Intent to Terminate, the matter shall be scheduled for consideration and review in the manner set forth in the Development Agreement Statute. Following consideration of the evidence presented in said review,the Party alleging the default may give written notice of termination of this Agreement. If a Party elects to terminate as provided herein, upon sixty (60) days' written notice of termination, this Agreement shall be terminated as it relates to the defaulting Party's rights and obligations hereunder. Notwithstanding the foregoing, a written notice of termination given under this Section 7.2 is effective to terminate the obligations of the noticing Party only if a default has occurred and such default, as a matter of law, authorizes the noticing Party to terminate its obligations under this Agreement. In the event the noticing Party is not so authorized to terminate, the non-noticing Party shall have all rights and remedies provided herein or under applicable law, including, without limitation, the right to specific performance of this Agreement. Once a Party alleging default has given a written notice of termination, legal proceedings may be instituted to obtain a declaratory judgment determining the respective termination rights and obligations under this Agreement. Notwithstanding the foregoing, any such default and related termination shall only extend to the defaulting Party's rights and obligations hereunder and shall not affect the rights and obligations of any other Assignee who has acquired other portions of the Property in accordance with Section 9.1 below. 7.3 Termination by Mutual Consent. This Agreement may be terminated by mutual consent of the Parties in the manner provided in the Development Agreement Statute. SECTION 8. DISPUTE RESOLUTION. 8.1 Voluntary Mediation and Arbitration. If a dispute arises related to the interpretation or enforcement of, or compliance with, the provisions of this Agreement("Dispute"), City and Developer may mutually consent to attempt 14