Redevelopment Commission Agenda & Packet 01.09.25

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15 default or breach by the Commission or for any amount which may become due to the Developer or any successor in interest or on any obligations under the terms of the Agreement. No partner, employee or agent of Developer or successors of them shall be personally liable to the City Bodies under this Agreement. 8.04 Costs. In the event the Closing is not completed by December 31, 2025, the Company shall pay City’s fees, including attorneys’ fees, Bond Counsel fees, municipal advisory fees and any other fees reasonably incurred with respect to this Agreement. 8.05 Default. (a) Events of Default. It shall be an Event of Default if either party fails to perform or observe any term or condition of this Agreement to be performed or observed by it after notice from the other party, and such default is not cured within the applicable Cure Period. (b) General Remedies. Whenever an Event of Default occurs, the non- defaulting party may take whatever actions at Law or in equity are necessary or appropriate to: (i) collect any payments due under this Agreement; (ii) protect the rights granted to the non-defaulting party under this Agreement; (iii) enforce the performance or observance by the defaulting party of any term or condition of this Agreement (including, without limitation, the right to specifically enforce any such term or condition); or (iv) cure, for the account of the defaulting party, any failure of the defaulting party to perform or observe a material term or condition of this Agreement to be performed or observed by it. If the non- defaulting party incurs any costs or expenses in connection with exercising its rights and remedies under, or enforcing, this Agreement, then the defaulting party shall reimburse the non-defaulting party for all such costs and expenses, including reasonable attorney fees. The parties acknowledge and agree that the Company’s agreement to perform and abide by the covenants and obligations set forth in this Agreement is a material consideration for the City Bodies’ commitment to undertake the construction of public infrastructure improvements to support the Project in Section 5.02 and Exhibit H. Therefore, in the event that the Company fails in a material way to make the investment contemplated by Section 4.01 and to complete the Project as required by this Agreement, then the City Bodies shall be entitled to recover from Developer monetary damages incurred by the City as a result of such failure, which may include the actual cost of its direct investment into the Project, including the total amount expended to undertake the construction of public infrastructure improvements to support the Project, and expenses related to City employees supporting the Project, including its redevelopment staff, engineering staff, and legal department staff. (c) No Remedy Exclusive. Except as provided to the contrary in this Agreement, no right or remedy herein conferred upon, or reserved to, a non-defaulting party is intended to be exclusive of any other available right or remedy, unless otherwise expressly stated; instead, each and every such right or remedy shall be cumulative and in addition to every other right or remedy given under this Agreement or now or hereafter existing at Law or in equity. No delay or omission by a non -defaulting party to exercise any right or remedy upon any Event of Default shall impair any such right or remedy, or be construed to be a waiver thereof, and any such right or remedy may be exercised from