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ARTICLE VIII <br /> DEFAULT,TERMINATION AND REMEDIES <br /> Section 8.01. Default and Termination. If the Developer is not in compliance with this <br /> Agreement and such non-compliance continues without cure for a period of ten(10)days after the <br /> City's written notice thereof to the Developer, then the City may, in its sole discretion, withhold <br /> Grant Payments that would otherwise be due to Developer for the year during which the <br /> noncompliance occurred or terminate the Agreement by providing written notice thereof to <br /> Developer. If the City elects to withhold Grant Payments for any such non-compliance, the City <br /> shall nevertheless continue Grant Payments for any subsequent years during the Term in which <br /> the Developer is complying with this Agreement; however, any Grant Payments withheld by the <br /> City for any years during which Developer is not complying shall be deemed forfeited by the <br /> Developer and the City shall not be liable for later payment of such Grant Payments. <br /> Section 8.02. Developer's Option to Terminate. If the City fails to budget and <br /> appropriate funds for Grant Payments under this Agreement during any fiscal year of the City <br /> during the Term for reasons other than the Developer's non-compliance with this Agreement,the <br /> Developer, at its option,may terminate this Agreement by providing written notice thereof to the <br /> City. If the Developer elects to terminate the Agreement under this Section, the Developer and <br /> the City shall each be released of all further obligations under this Agreement,except that the City <br /> shall pay to the Developer any outstanding and unpaid Grant Payments properly due to the <br /> Developer prior to the date of termination for which the City has budgeted and appropriated funds <br /> during any previous fiscal year. <br /> Section 8.03. Remedies. Upon breach of any obligation or misrepresentation of facts <br /> under this Agreement,in addition to any other remedies expressly set forth in this Agreement with <br /> respect to such breach or misrepresentation, the aggrieved party shall have such remedies as are <br /> 11 <br />