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cured within the thirty (30) day period, the commencement of the cure within the <br />thirty (30) day period and the diligent prosecution of the cure to completion will be <br />deemed a cure within the cure period. The City may issue Stop Work Orders for <br />violations arising under this Agreement or the City of San Marcos Code of <br />Ordinances, as applicable. <br />If either Party defaults under this Agreement and fails to cure the default within the <br />applicable cure period, the non -defaulting Party will have all rights and remedies <br />available under this Agreement or applicable law, including the right to institute <br />legal action to cure any default, to enjoin any threatened or attempted violation of <br />this Agreement or to enforce the defaulting Party's obligations under this <br />Agreement by specific performance or writ of mandamus, or to terminate this <br />Agreement or other enforcement remedies the City may possess under its <br />municipal regulatory authority. <br />Notwithstanding anything herein to the contrary, no party shall be deemed to be in <br />default hereunder until the passage of ten (10) business days after receipt by such <br />party of notice of default from the other party. Upon the passage of ten (10) <br />working days without cure of the default, such party shall be deemed to have <br />defaulted for purposes of this Agreement. <br />2.03 Authority, Applicable Rules and Right to Continue Development <br />This Agreement is entered under the statutory authority of Sections 42.042 and <br />212.172 of the Texas Local Government Code. The Parties intend that this <br />Agreement guarantee the continuation of the extraterritorial status of portions of <br />the Land as provided in this Agreement; authorize certain land uses and <br />development on the Land; provide for the uniform review and approval of plats and <br />development plans for the Land; provide exceptions to certain ordinances; and <br />provide other terms and consideration, including the continuation of land uses and <br />zoning upon annexation of any portion of the Land to the City. <br />Execution of this agreement, under Section 212.172 of the Texas Local <br />Government Code, constitutes a permit under Chapter 245. <br />In consideration of Owners' agreements hereunder, the City agrees that, during the <br />term of this Agreement, it will not impose or attempt to impose: (a) any moratorium <br />on building or development within the Projector (b) any land use or development <br />regulation that limits the rate or timing of land use approvals, whether affecting <br />preliminary plans, final plats, site plans, building permits, certificates of occupancy <br />or other necessary approvals, within the Project. No City -imposed moratorium, <br />growth restriction, or other limitation affecting the rate, timing or sequencing of <br />development or construction of all or any part of the Project will apply to the Land if <br />such moratorium, restriction or other limitation conflicts with this Agreement or <br />9 <br />