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number of full-time job equivalents maintained during the previous calendar year. Section 5.04. If this Agreement is terminated under this Section, Global Rock will pay to the City the full value of all fee waivers provided for in Section 6.01 below within 60 days of the termination date. The City will be entitled to record a lien against the Property to secure the full value of the fees so waived if this payment is not timely made. Section 5.05. At the time this Agreement is fully performed by Global Rock, and upon the written request of Global Rock, the City Manager will execute a certificate in recordable form stating this Agreement has been performed, and Global Rock will be released of all further duties or obligations under this Agreement. Section 5.06. The City reserves the sole discretion to choose among the remedies for default enumerated in Sections 5.01 through 5.04 above. These remedies may be used in conjunction with one another or separately, and together with any other statutory or common law remedies available to the City. Any failure by the City to enforce this Agreement with respect to one or more defaults by Global Rock will not waive the City's ability to enforce the agreement after that time. PART 6. ECONOMIC INCENTIVES PROVIDED BY THE CITY Section 6.01. As partial consideration for the construction of the Building and the creation of the jobs by Global Rock described in Part 2 above, the City agrees to provide the following incentives and benefits to Global Rock: 1. The City agrees to waive all City fees (the "Fee Waiver") associated with zoning, the subdivision process, and building permits and inspections associated with the reconstruction, renovation and remodeling of the Building. The Fee Waiver does not extend to water and wastewater impact fees charged by the City. 2. The City agrees to expedite the process for all hearings, reviews, inspections and contacts with City staff in order to ensure the timely completion of the construction process. 3. The City agrees to consider any other reasonable requests made by Global Rock in order to assist it in reconstructing, renovating and remodeling the Building. PART 7. EFFECT OF SALE, ASSIGNMENT OR LEASE OF PROPERTY Section 7.01. The Tax Abatement will be assignableto each new owner of the Property, or to financing entities in the event third party financing is sought, for the balance of the term of this 4