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breach is diligently pursuing appropriate action to cure the material breach or failure within a total <br /> of forty-five (45) days if such action was commenced within thirty (30) days after the giving of <br /> notice of the material breach or failure. <br /> Section 4.2. Neither City nor Owner shall have any further obligations hereunder except <br /> for those obligations accruing prior to the date of termination and those post-termination <br /> obligations enumerated in this PILOT Agreement. <br /> Section 5. General Provisions. <br /> Section 5.1. Conditions Precedent to Agreement. Notwithstanding any other <br /> provision herein, this Agreement shall be conditioned upon: <br /> (a) the Owner having legal title to the Property; and <br /> (b) the Owner executing and recording the Extended Use Agreement providing for a <br /> term of at least fifteen(15)years. <br /> Section 5.2. Captions; Incorporation and Exhibit. The captions and headings of <br /> various Sections and Exhibits referenced herein are for convenience only and are not to be <br /> considered as defining or limiting in any way the scope or intent of the provisions hereof. <br /> Notwithstanding the foregoing, each of the Recitals and the Exhibits referenced herein are <br /> incorporated and expressly made a part hereof. <br /> Section 5.3. Entire Agreement. This PILOT Agreement constitutes the entire <br /> agreement of the Parties with respect to the subject matter contained herein, and all prior <br /> discussions, negotiations, and document drafts are merged herein. <br /> Section 5.4. Notices. Any notice, demand, request, or other communication which any <br /> Party hereto may be required or may desire to give hereunder shall be in writing, addressed as <br /> follows and shall be deemed to have been properly given if hand delivered (effective upon <br /> delivery), if sent by reputable overnight courier, charges prepaid (effective the business day <br /> following delivery to such courier): <br /> If to Owner: Western Avenue I, LLC <br /> do The Michaels Development Company <br /> 2 Cooper Street, 14th Floor <br /> Camden,NJ 08102 <br /> Attn: Mark Morgan <br /> With a copy to: Applegate &Thorne-Thomsen, P.C. <br /> 425 South Financial Place, Suite 1900 <br /> Chicago, Illinois 60605 <br /> Attnl Bennett P. Applegate,Jr. <br /> 5 <br />