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(30) day period, the commencement of the cure within the thirty (30) day period and <br />the diligent prosecution of the cure to completion will be deemed a cure within the <br />cure period. The City may issue Stop Work Orders for violations arising under this <br />Agreement or the City of San Marcos Code of 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 legal <br />action to cure any default, to enjoin any threatened or attempted violation of this <br />Agreement or to enforce the defaulting Party's obligations under this Agreement by <br />specific performance or writ of mandamus, or to terminate this Agreement or other <br />enforcement remedies the City may possess under its municipal regulatory <br />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) working <br />days without cure of the default, such party shall be deemed to have defaulted for <br />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, 43.0672 <br />and 212.172 of .the Texas Local Government Code and pursuant to Chapter 2, <br />Article 4, Division 3 of the SMDC. The Parties intend that this Agreement guarantee <br />the continuation of the extraterritorial status of portions of the Land as provided in <br />this Agreement; authorize certain land uses and development on the Land; provide <br />for the uniform review and approval of plats and development plans for the Land; <br />provide exceptions to certain ordinances; and provide other terms and <br />consideration, including the continuation of land uses and zoning upon annexation <br />of any portion of the Land to the City. <br />Execution of this agreement, under Section 212.172 of the Texas Local Government <br />Code, constitutes a permit under Chapter 245 of the Texas Local Government Code. <br />In addition, the City acknowledges and agrees that (1) the uses and development <br />contemplated in and authorized by this Agreement were planned for the Property <br />more than ninety (90) days prior to the effective date of this Agreement and, <br />therefore, more than ninety (90) days prior to the effective date of annexation of the <br />Property, and (2) the Owner has filed a completed application for the initial <br />authorization with the City prior to the institution of any annexation proceedings <br />related to the Property. As a result of the foregoing sentence, Section 43.002 of the <br />Texas Local Government Code applies to the uses and development of the Property <br />contemplated in and authorized by this Agreement. <br />E:3 <br />