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f <br /> L <br /> L <br /> specifying the nature of the alleged default and the manner in which said default may be <br /> satisfactorily cured. During any such thirty(30) day period, the Party charged shall not be <br /> L considered in default for purposes of termination or institution of legal proceedings. <br /> L 5.1.2. After notice and expiration of the thirty(30) day period, if such default has <br /> not been cured or is not being diligently cured in the manner set forth in the notice, the other <br /> L Party to this Agreement may at its option institute legal proceedings pursuant to this Agreement <br /> or give notice of intent to terminate this Agreement in the manner provided in Section 5.7. hereof <br /> as to the Party in default and the Property in which that Party holds an interest. Any Mortgagee <br /> of the Property or any portion thereof may cure any default on behalf of the Developer. Notices <br /> L to the Developer under this Section 5.1. shall also be given concurrently to each signatory Party <br /> hereto, and to any Mortgagee of the Property or portion thereof covered by such notices provided <br /> ` that Developer or such Mortgagee has requested in writing that such notice be given to it and has <br /> L, provided the County with the name and address to which notices are to be sent as required by <br /> Section 1.6.5. hereof; and provided, further, that failure of the County to give such notice shall <br /> not waive or invalidate County's remedies hereunder provided that such notices shall be given to <br /> ` such Persons entitled thereto prior to the exercise of remedies affecting the interests of such <br /> Persons. <br /> '` 5.1.3. Evidence of default may also arise in the course of a regularly scheduled <br /> periodic review of this Agreement pursuant to provisions of Section 4 hereof and the <br /> Development Agreement Regulations. If the County determines that the Developer is in default <br /> L following the completion of the scheduled periodic review, the County may give the Developer <br /> written notice pursuant to this Section 5.1 specifying in said notice the alleged nature of the <br /> default and potential actions to cure said default where appropriate. If the alleged default is not <br /> Lcured or is not being diligently cured within thirty(30) days or within such longer period <br /> specified in the notice, or the Developer waives its right to cure such alleged default, County <br /> may pursue its remedies hereunder or terminate this Agreement in the manner provided in <br /> Section 5.2. hereof. <br /> ! 5.2. Developer Default: County Remedies. In the event Developer is in <br /> L default under the terms of this Agreement, County shall have the right to exercise any <br /> of the following remedies: <br /> L5.2.1. To waive in its sole and absolute discretion such default as not material; <br /> 5.2.2. To refuse processing of an application for, or the granting of any permit, <br /> Lapproval or other land use entitlement for, development or construction of the Property or <br /> portion thereof owned or controlled by Developer, including but not limited to, but only to the <br /> extent required to protect the interests of the County with respect to the particular default,the <br /> withholding of grading, excavation and building permits until such time that the default is cured <br /> and the project is in compliance with the terms of this Agreement; <br /> L 5.2.3. To pursue legal remedies provided for in Section 5.5. hereof; <br /> W02-SF:FPD\61481145.2 -43- <br />