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PART 4. DEFAULT AND EXPIRATION OF WAIVERS <br />Section 4.01. Default. The City Manager may declare a default under this Agreement <br />and may terminate this Agreement if Developer: <br />1. fails to complete the Project within the time specified in Section 2.01 <br />and/or fails to begin operation of the Business within the time specified in Section 2.02; <br />2. made or makes any representation relied upon by the City in entering into <br />this Agreement or in any request or submission to the City relating to this Agreement that <br />is false or misleading in any material respect; or <br />3. installs any signs not in conformance with the requirements of Sections <br />2.03 or 2.04 and the exhibits referenced therein or any other parameters set forth in this <br />Agreement. <br />If the City Manager determines that Developer is in default of this Agreement, the City Manager <br />will notify Developer in writing of such default, and if the default is not cured within 30 days <br />from the date of the notice, then the City Manager may terminate this Agreement. After <br />receiving notice of any default under this Section, Developer shall immediately stop any <br />erection or installation of signs pending the agreed resolution of the matter for which a <br />default was declared by the City Manager. <br />Section 4.02. Status of Signs and Waivers Upon Default. Upon termination of this <br />Agreement under Section 4.01, the Developer agrees that the waivers granted by the City shall <br />expire and no signs may be erected on the Premises after the date of termination except as <br />permitted under the provisions of the Land Development Code then in effect. Developer further <br />agrees, that upon termination under Section 4.01, any signs, including partially erected or other <br />signs that are not fully operational or completed at such time shall be removed from the Premises <br />5