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a transformer at the Facility. The loan shall be evidenced by a promissory note executed by the <br />Recipient payable to the City in the form attached hereto as Exhibit "A ", and made a part hereof <br />(the "Promissory Note "): <br />PART 5. DEFAULT <br />Section 5.01. Grounds for Default. The City Manager may declare a default under this <br />Agreement and may terminate this Agreement and accelerate the maturity date for any unpaid <br />amounts due under the Promissory Note if Recipient: <br />a) refuses, fails or neglects to comply with the terms of the Promissory Note <br />or with any of the terms of this Agreement; <br />b) made or makes any representation relied upon by the City in entering into <br />this Agreement or subsequent submission to the City relating to this Agreement that is <br />false or misleading in any material respect. <br />Section 5.02. Remedies not Exclusive. The City may exercise its remedies for default in <br />conjunction with one another or separately, and together with any other statutory or common law <br />remedies available to the City. Any failure by the City to enforce this Agreement with respect to <br />one or more defaults by Recipient will not waive the City's ability to enforce the Agreement <br />after that time. <br />PART 6. MISCELLANEOUS <br />Section 6.01. No Joint Venture. It is understood and agreed between the parties that <br />the City and Recipient, in executing this Agreement, and in performing their respective <br />obligations, are acting independently, and not in any form of partnership or joint venture. <br />Section 6.02. Notices. All notices required by this Agreement will be delivered to the <br />following by certified mail or confirmed facsimile transmission: <br />3 <br />