VII.
DEFAULTS
Failure or delay by either party to timely perform any termor provisions of
thisAgreement shall constitute an “event of default.” The partywho so fails
must, upon receipt ofwritten notice from the non-defaulting party, of the
existence of such event of default immediately commence cure of the default
and thereafter proceedwith diligence to fully cure same. Except as required
to protect against immediate irreparable harm, the party asserting an event of
defaultmay not pursue its remedies against the other party until thirty (30)
days after having given such notice. If such event of default is curedwithin
such thirty (30) day period thisAgreement shall remain in full force and
effect. If the event of default is onewhich cannot reasonably be curedwithin
a thirty (30) day period, upon request andwith appropriate showings, the cure
period shall be extended for such time as is reasonably necessary for the
curing of same, so long as there is a diligent effort to cure the default. Except
as otherwise expresslyprovided in thisAgreement, any failure or delay by
either party in asserting any of its rights or remedies as to any event of default
shall not operate as awaiver of any rights or remedies itmay have as a result
of such even of default.
VIII.
MISCELLANEOUSPROVISIONS
A.
ThisAgreement is the entireAgreement between theCity andRiverside relating
to the subjectmatter hereof and supersedes all prior and contemporaneous
negotiations, understandings and agreementswhetherwrittenor oral. This
Agreementmay not bemodified or amended except by awritten instrument
executed byboth parties.
B.
Any number of counterparts of thisAgreementmay be executed and delivered
and each shall be considered an original and together they shall constitute one
Agreement.
C.
ThisAgreement shall constitute a special and limited obligation of theCity
according to the terms hereof. ThisAgreement shall not constitute a general
obligation of theCity towhich its credit, resources or general taxing power are
pledged. TheCity pledges the payment of its obligations hereunder solely for the
Tax revenues as definedherein.
D.
Time is of the essence of thisAgreement. The foregoing notwithstanding,
Riverside and theCity shall have noobligation hereunder to settle, other than in
their sole discretion and business judgment, civil disorder, inability to procure
materials, weather conditions, wet soil conditions, failure or interruptionof
power, restrictive governmental laws and regulations, condemnation, riots,
insurrections, war, fuel shortages, accidents, casualties, Acts ofGod or any other
cause beyond the reasonable control ofRiverside or theCity.
