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VI. SITE F-1 <br /> <br /> Owner agrees that it will sell the land designated as <br /> <br />F-1 on the Development Plan referred to in the PUD to an <br />assessment district formed for purposes of building a fire <br />station and providing fire protection service at the reasonable <br />appraised value for such site. Upon such sale, Owner agrees <br />to contribute the net proceeds of the sale to the City's <br />capital improvement fund to help offset capital needs created <br />by the cumulative effects of this project. Owner requests <br />that the funds be used for construction or improvement of a <br />park in the area of the project. <br />VII. PROJECT CONDITIONS <br /> <br /> Nothing herein shall lessen any obligation of Owner <br />required as a condition of project approval. <br />VIII. DEFAULT <br /> <br /> In the event of any default in or breach of this agreement <br />by either party, such party (or successor) shall, upon written <br />notice from the other, proceed immediately to cure or remedy <br />such default or breach. In the event such default or breach <br />is not cured or remedied within sixty (60) days after receipt <br />of such notice, the aggrieved party mav institute such proceedings <br />as may be necessary or desirable in its opinion to cure and <br />remedy such default or breach, including, but not limited to, <br />proceedings to compel specific performance by the party in <br />default or breach of its obligations and, in the case of the <br />City, denial of further building permits for the project site. <br /> <br />-7- <br /> <br /> <br />