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from the Property, whether Torchy's or any other person or entity, shall be required to <br />apply for a new CUP, subject to the then applicable requirements for the approval of such <br />a CUP under the LDC or other ordinance. <br />b. Subject to Other Requirements. The waiver granted in Section 3.01 is <br />subject to all other required approvals of the City under applicable ordinances, rules, <br />regulations and standards. Except as specifically granted herein, the City grants no other <br />waivers of any requirements under the LDC or its Code of Ordinances. The granting of <br />the waiver through this Agreement is not a guarantee, representation or indication by the <br />City regarding the likelihood of approval of any other applications, permits or requests <br />related to the Project, including the initial request for the CUP to which this Agreement <br />relates, or any certificates of occupancy. <br />PART 4. DEFAULT AND TERMINATION <br />Section 4.01. Default and Termination. The City may declare a default under this <br />Agreement and may terminate this Agreement if Torchy's: <br />a. fails to commence and complete the Project within the time specified or <br />according to the specifications in Section 2.01; <br />b. made or makes any representation relied upon by the City in entering into <br />this Agreement or in any request or submission to the City relating to this Agreement or <br />the Project that is false or misleading in any material respect; <br />C. assigns this Agreement without the consent of the City; <br />d. allows ad valorem taxes on the Property or other property in the City <br />owned by Torchy's to become delinquent or fails to pay other taxes, fees and assessments <br />due and owing to the City; or <br />e. fails to comply at all times with the terms of the initial CUP issued for on- <br />premises consumption of alcoholic beverages on the Property, as renewed or amended, or <br />the standards for "bona fide restaurants" under Section 4.3.4.2 of the LDC during the first <br />12 months following the date of issuance of said CUP. <br />Section 4.02. Notice of Default and Termination. If the City Manager reasonably <br />determines that Torchy's is in default under Sections 4.01 (a) or (d) the City Manager will notify <br />Torchy's in writing of such default, and if the default is not cured within 30 days from the date of <br />the notice, the City Manager may terminate this Agreement, unless reasonable efforts are being <br />made to cure said default and said default cannot reasonably be cured within 30 days. For any <br />default under Sections 4.01 (b), (c) or (e) of this Agreement, the City Manager may terminate the <br />Agreement upon sending written notice of termination to Torchy's. <br />Section 4.03. Status of Waiver Upon Termination. Torchy's agrees that upon <br />termination of this Agreement, the waiver granted under this Agreement shall be deemed <br />