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04-09-10 Packet
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a. the sum of the Purchase Price paid by it for the Property (or allocable <br />to the part thereof) and the cash actually invested by the Developer in <br />construction on the Property or part thereof, less <br />b. any gains or income withdrawn or made by the Developer from the <br />Contract or the Property. <br />Any balance remaining after such reimbursements shall be retained by the Commission as its <br />property. <br />F. Other Rights and Remedies of Commission; No Waiver by Delay. The Commission <br />shall have the right to institute such actions or proceedings, as it may deem desirable, for putting into <br />effect the purposes of this Section IX. This includes the right to execute and record or file among <br />the public land records in the office in which the Deed is recorded a written declaration of the <br />termination of all the right, title, and interest of the Developer, and (subject to such mortgage liens <br />and conveyances as provided in Section IX, Subsection D hereof) its successors in interest and <br />assigns, in the Property, and the reverting of title in the Commission. Any delay by the Commission <br />in instituting or prosecuting any such actions or proceedings or otherwise asserting its rights under <br />this Section IX shall not operate as a waiver of such rights or to deprive it of or limit such rights in <br />any way. This provision intends that the Commission should not be constrained, so as to avoid the <br />risk of being deprived of or limited in the exercise of the remedy provided in this Contract because <br />of concepts of waiver, laches, or otherwise, to exercise such remedy at a time when it may still hope <br />otherwise to resolve the problems created by the default involved; nor shall any waiver in fact made <br />by the Commission with respect to any specific default by the Developer under this Contract be <br />considered or treated as a waiver of the Commission's rights to any other defaults by the Developer <br />under this Contract or with respect to the particular default except to the extent specifically waived <br />in writing. <br />G. Enforced Delay in Performance for Causes Beyond Control of Party. For the <br />purposes of any of the provisions of the Contract, neither the Commission nor the Developer, as the <br />case may be, nor any successors in interest, shall be considered in breach of or in default in its <br />obligations with respect to the preparation of the Property for the Project, or the beginning and <br />completion of construction, or progress in respect thereto, in the event of enforced delay in the <br />performance of such obligations due to unforeseeable causes beyond its control and without its fault <br />or negligence. These include, but are not limited to, acts of God, acts of the public enemy, acts of the <br />federal government, acts of the other party, fires, floods, epidemics, quarantine restrictions, strikes, <br />freight embargos and unusually severe weather, or delays of subcontractors due to such causes. The <br />purpose and intent of this provision is that in the event of the occurrence of any such enforced delay, <br />the time or times for performance of the obligations of the Developer with respect to construction of <br />the Project shall be extended for the period of the enforced delays as determined by the Commission. <br />The party seeking the benefit of the provisions of this paragraph shall, within ten (10) days after the <br />beginning of the enforced delay, have first notified the other party thereof in writing and of the cause <br />or causes thereof, and shall have requested an extension for the period of the enforced delay. <br />15 <br />
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