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Ord 2014-070/Approving a petition submitted by Metcalfe, Wolfe, Stuart & Williams, LLP on behalf of Walton Texas, LP granting the consent of the City of San Marcos, Texas, to the creation of Cotton Center Municipal Utility District No. 1
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Ord 2014-070/Approving a petition submitted by Metcalfe, Wolfe, Stuart & Williams, LLP on behalf of Walton Texas, LP granting the consent of the City of San Marcos, Texas, to the creation of Cotton Center Municipal Utility District No. 1
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12/12/2018 8:36:49 AM
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12/16/2014 9:07:36 AM
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Ordinances
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2014-70
Date
12/2/2014
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terminate; and from and after such tennination, this Agreement shall be interpreted without <br />regard to such rights and obligations. <br />Section 7.03 Remedies. <br />a. In the event of default by any party, a non - defaulting party may give the defaulting <br />party written notice specifying the default (the "Notice "). If the defaulting party fails to <br />fully cure any default that can be cured by the payment of money ( "Monetary Default ") <br />within thirty (30) days after receipt of the Notice, or fails to commence the cure of any <br />default specified in the Notice that is not a Monetary Default within thirty (30) days of <br />the date of the Notice, and thereafter to diligently pursue such cure to completion, <br />then the other party shall be entitled to a proper writ issued by a court of competent <br />jurisdiction compelling and requiring the defaulting party to observe and perform the <br />covenants, obligations and conditions described in this Agreement. The non - defaulting <br />party may employ attorneys to pursue its legal rights and if it prevails before any <br />court or agency of competent jurisdiction, the defaulting party shall be obligated to pay <br />all expenses incurred by the non - defaulting party, including reasonable attorneys' fees <br />not to exceed the usual and customary rate charged by the City Attorney. <br />b. No bonds shall be issued during any period in which Owner is not in compliance <br />with any consent requirements contained in this Agreement or any court order <br />compelling performance under this Agreement. Further, during the cure period and <br />continuing until the default or breach is cured, the District is prohibited from taking <br />any affirmative act to issue Bonds until the default or breach has been cured. The <br />City shall have all rights to enjoin the issuance of Bonds during any period during <br />which a default or breach remains uncured under this Section. If Owner fails to <br />cause the District to cure any default or breach, Owner shall not enter into any <br />agreements with the District or seek reimbursement from the District for any <br />expenses incurred in connection with the District or the development of the Land <br />until the default or breach has been cured. <br />7.04 Cooperation. <br />a. The City, Owner, and the District each agree to execute any further documents or <br />instruments as may be necessary to evidence their respective agreements. <br />b. In the event of any third party lawsuit or other claim relating to the validity of this <br />Agreement or any actions taken hereunder, the City, Owner, and the District agree to <br />cooperate in the defense of such suit or claim, and to use their respective best efforts to <br />resolve the suit or claim without diminution in their respective rights and obligations <br />under this Agreement. <br />ARTICLE VIII <br />MISCELLANEOUS PROVISIONS <br />Section 8.01 Notice. <br />Any notice given under this Agreement must be in writing and may be given: (i) by depositing <br />it in the United States mail, certified, with return receipt requested, addressed to the party to be notified <br />12 <br />
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