Res 2013-048/Approving an Economic Development Incentive Agreement between ShySG, Group, LLC

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PART 4. DEFAULT AND TERMINATION Section 4.01. Default and Termination. The City. may declare a default under this Agreement and may terminate this Agreement if the Owner: a. fails to commence and complete the Project within the time specified or according to the specifications in Section 2.01; b. made or makes any representation relied upon by the City in entering into this Agreement or in any request or submission to the City relating to this Agreement or the Project that is false or misleading in any material respect; C. assigns this Agreement without the consent of the City; d. allows ad valorem taxes on the Property or other property in the City owned by Owner to become delinquent; or e. fails to comply at all times with the standards for "bona fide restaurants" under Section 4.3.4.2 of the LDC during the first 12 months following the date of issuance of the CUP referenced in Section 3.02 (a). Section 4.02. Notice of Default and Termination. If the City Manager reasonably determines that the Owner is in default under Sections 4.01 (a) or (d) the City Manager will notify the Owner in writing of such default, and if the default is not cured within 30 days from the date of the notice, the City Manager may terminate this Agreement, unless reasonable efforts are being made to cure said default and said default cannot reasonably be cured within 30 days. For any default under Sections 4.01 (b), (c) or (e) of this Agreement, the City Manager may terminate the Agreement upon sending written notice of termination to the Owner. Section 4.03. Status of Waiver Upon Termination. Owner agrees that upon termination of this Agreement, the waiver granted under this Agreement shall be deemed revoked and Owner's conditional use permit for on- premises consumption of alcoholic beverages may, at the City's sole discretion, be suspended or revoked without a hearing, and without recourse against the City, its officers, agents, or employees. Section 4.04. Automatic Termination. In addition to automatic termination under paragraph 3.02 (a), this Agreement shall terminate automatically upon the denial of any application, permit or request of the Owner related to the Project and the Owner's exhaustion of remedies related thereto making the Project infeasible under applicable laws, ordinances, rules and regulations. Section 4.05. Remedies not Exclusive. In the event of default, either party may exercise its remedies hereunder together with any other statutory or common law remedies, including applicable penal and civil enforcement provisions of the Land Development Code or successor provisions, or other ordinances. Any failure by one party to enforce this Agreement with respect