Res 1994-054 - Laserfiche WebLink

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1'1 8. OJ. Each of the following shall constitute an event of default by a party under the terms and provisions of this Agreement: (a) The failure of any party to pay any sum required to be paid by such party under the terms and provisions of this Agreement within the time specified herein; (b) The failure of any party to perform any of party's obligations or other covenants agreements set forth in this Agreement; said or (c) The failure of representations Agreement. any party to or warranties honor any set forth of in the this 8.02 In the event of the failure of SMCISD to perform any of the services it has agreed to perform as a proj ect Manager hereunder, either of the remaining parties hereto, as their exclusive remedy for SMCISD's failure to perform ics services as Project Manager, shall be entitled to enforce by specific performance the obligations of SMCISD as the proj ect Manager, Provided, However, such parties shall be required to give SMCISD reasonable written notice of such default, which notice shall contain a specific description of the default, and SMCISD shall have fourteen (14) working days fram the date of receipt of such notice to cure such default. 8.03 In the event any party commits an event of default, any of the remaining parties hereto may enforce this Agreement by specific performance against the non-performing party and/or pursue any other remedy available at law or in equity. In the event of a termination of this Agreement, as provided in Paragraph 11.04 below, the parties hereto shall have no further rights or Tri-Party Agreement for Utility and Road Improvements 14