(6)AR 021709 AGRMT MTG Holding LLC

Browse Search

make written demand upon Owner or its surety, or both, to immediately remedy the default or violation ("Notice"). Owner shall substantially commence the work required to remedy the default or violation within ten (10) days of the Notice. If the default or violation constitutes an immediate threat to the public health, safety, or welfare, City may provide the Notice verbally, and Owner shall substantially commence the required work within twenty-four (24) hours thereof. Immediately upon City's issuance of the Notice, Owner and its surety shall be liable to City for all costs of construction and installation of the Improvements and all other administrative costs and expenses as provided for in Section 3 of this Agreement. 2.2 Failure to Remedy; City Action. If the work required to remedy the noticed default or violation is not diligently prosecuted to a completion acceptable to City within the time frame contained in the Notice, City may complete all remaining work, arrange for the completion of all remaining work, and/or conduct such remedial activity as in its sole and absolute discretion it believes is required to remedy the default or violation. All such work or remedial activity shall be at the sole and absolute cost, expense, and liability of Owner and its surety, without the necessity of giving any further notice to Owner or surety. City's right to take such actions shall in no way be limited by the fact that Owner or its surety may have constructed any, or none of the required or agreed upon Improvements at the time of City's demand for performance. In the event City elects to complete or arrange for completion of the remaining work and Improvements, City may require all work by Owner or its surety to cease in order to allow adequate coordination by City. If the City elects to complete or arrange for the construction and/or completion of the Improvements, the City may place a lien on the Property for the cost of such work. If City sues to compel performance of this Agreement, to recover the cost of completing the Improvements or to enforce the lien, Owner shall pay all reasonable attorney's fees, costs of suit and all other expenses incurred by City in connection therewith, and the attorney's fees, costs and other expenses shall also become a lien on the Property. 2.3 Other Remedies. No action by City pursuant to Section 2.0 et SeMc . of this Agreement shall prohibit City from exercising any other right or pursuing any other legal or equitable remedy available under this Agreement or any federal, state, or local law. City may exercise its rights and remedies independently or cumulatively, and City may pursue inconsistent remedies. City may institute an action for damages, injunctive relief, or specific performance. 3. Administrative Costs. If Owner fails to construct and install all or any part of the Improvements within the time required by this Agreement, or if Owner fails to comply with any other obligation contained herein, Owner and its Surety shall be jointly and severally liable to City for all administrative expenses, fees, and costs, including reasonable attorney's fees and costs, incurred in obtaining compliance with this Agreement or in processing any legal action or for any other remedies permitted by law. 4. Acceptance of Improvements; As -Built or Record Drawings. If the Improvements are properly completed by Owner and approved by the City Engineer, and if they comply with all applicable federal, state and local laws, ordinances, regulations, codes, standards, and other requirements, the City Council shall be authorized to accept the Improvements. The City Council may, in its sole and absolute discretion, accept fully completed portions of the Improvements prior to such time as all of the Improvements are complete, which shall not release or modify Owner's obligation to complete the remainder of the Improvements Deferred Improvement Agreement Page 4 of 12 ORANGE\C W ILKES\54393.2