No. 2241 approving a development agreement with gameday centers Southeastern, LLC and related matters

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invalidation, nullification, or setting aside. SECTION 10.0 DEFAULT; TERMINATION; ANNUAL REVIEW. 10.1 Default. Any failure by either Party to perform any term or provision of this Agreement, which failure continues uncured for a period of Thirty (30) Days following written notice of such failure from the other Party, unless such period is extended by written mutual consent, shall constitute a default under this Agreement. Any notice given pursuant to the preceding sentence shall specify the nature of the alleged failure and, where appropriate, the manner in which said failure satisfactorily may be cured. If the nature of the alleged failure is such that it cannot reasonably be cured within such 30 -Day period, then the commencement of the cure within such time period, and the diligent prosecution to completion of the cure thereafter, shall be deemed to be a cure within such 30 -Day period. Upon the occurrence of a default under this Agreement, the non - defaulting Party may institute legal proceedings to enforce the terms of this Agreement or, in the event of a material default, terminate this Agreement. If the default is cured, then no default shall exist and the noticing Party shall take no further action. 10.2 Termination. If Commission elects to consider terminating this Agreement due to a material default of Developer, then Commission shall give written notice to Developer by certified mail, return receipt requested, of Commission's intent to terminate this Agreement and • this Agreement shall thereby be terminated Thirty (30) Days thereafter. Unless otherwise agreed by the parties in writing, this Agreement shall terminate automatically without fault or liability to either party in the event that Developer does not commence the construction of the Project on or before April 30, 2007. 10.3 Semi - Annual Review. On or before February 1 and August 1 of each year, the Developer shall submit to the Community & Economic Development Department of the City of South Bend a report demonstrating Developer's good - faith compliance with the terms of this Agreement. 10.4 Enforced Delay in Performance for Causes Beyond Control of Party; Extension of Time of Performance. Notwithstanding anything to the contrary contained in this Agreement, neither Party shall be deemed to be in default where delays in performance or failures to perform are due to, and a necessary outcome of, war, insurrection, strikes or other labor disturbances, walk -outs, riots, floods, earthquakes, fires, casualties, acts of God, restrictions imposed or mandated by other governmental entities enactment of conflicting state or federal laws or regulations, new or supplemental environments regulations, or similar basis for excused performance which is not within the reasonable control of the Party to be excused. Upon the request of either Party, an extension of time for such cause will be granted in writing for the period of the enforced delay, or longer as may be mutually agreed upon. F:\DATA\SHARE\LegalkWpdata\SEP\Economic Develo ment \Gameda \Gameda Development t Agreement (version 4).doc 11