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B. Refuse to issue building permits or occupancy permits as to any lot until such <br /> time as the Event of Default is cured. <br /> C. Apply to a court of competent jurisdiction to enjoin continuation of the Event of <br /> Default. <br /> D. If the Event of Default is the failure of Developer to complete, construct, install, <br /> or correct the Developer Improvements in accordance with the plans and <br /> specifications and this Agreement, City may perform the construction or work and <br /> the Developer shall reimburse City for its expenses. This provision shall be a <br /> license granted by the Developer to the city to act, but shall not require the city to <br /> take any such action. Developer consents to such action by City and waives any <br /> claim Developer may have against City for damages in the event city exercises its <br /> rights in accordance with this provision. This remedy is in addition to and not in <br /> lieu of the City's right to draw on all security referenced in this Agreement. <br /> E. Terminate this Agreement by written notice to Developer at which time all terms <br /> and conditions as contained herein shall be of no further force and effect and all <br /> obligations of the parties as imposed hereunder shall be null and void. <br /> F. Draw upon and utilize Developer funds and/or security in order to cover the costs <br /> of the city in order to correct the Event of Default. <br /> XXVI. Miscellaneous. <br /> A. This Agreement shall be binding upon the parties, their heirs, successors, or <br /> assigns, as the case may be. <br /> B. If any portion, section, subsection, sentence, clause,paragraph, or phrase of this <br /> Agreement is for any reason held invalid, such decision shall not affect the <br /> validity of the remaining portions of this Agreement. <br /> C. The action or inaction of the City shall not constitute a waiver or amendment to <br /> the provisions of this Agreement. To be binding, amendments or waivers shall be <br /> in writing, signed by the parties, and approved by written resolution of the City <br /> Council. The City's failure to promptly take legal action to enforce this <br /> Agreement shall not be a waiver or release. <br /> D. This Agreement shall run with the Property and shall be binding upon the <br /> Developer, it successors and assigns. The Developer shall, at its expense, record <br /> this Agreement in the office of the county Recorder. After the Developer has <br /> completed the work required under this Agreement, at the Developer's request the <br /> City will execute and deliver to Developer a release in recordable form. <br /> E. All parties to this Agreement acknowledge they have been represented by counsel <br /> and have entered into this Agreement freely and voluntarily. <br /> 12 <br />