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<br />-7- <br /> <br />Ç)")ry <br />(¡ ,'i <br /> <br />80:§ <br /> <br />delinquent and fails to timely and properly follow the legal <br /> <br />procedures for their protest and/or contest, this Agreement <br /> <br />may then be terminated by the City and all taxes previously <br /> <br />abated by virtue of this Agreement will be recaptured, the <br /> <br />Tax Abatement will be rescinded and the previously abated <br /> <br />taxes will be paid by Factory Stores to the City within sixty <br /> <br />(60) days of the termination. <br /> <br />C. <br /> <br />The City Council may declare a default hereunder by Factory <br /> <br />Stores and terminate this Agreement if, after notice and a <br /> <br />cure period as provided below, Factory Stores fails to comply <br /> <br />with any of its obligations under this Agreement except for <br /> <br />those obligations set forth in Sections II(A), <br /> <br />(B) <br /> <br />and (C) <br /> <br />and the obligation to pay ad valorem taxes. <br /> <br />In the event <br /> <br />that the City Council <br /> <br />determines <br /> <br />that Factory <br /> <br />Stores <br /> <br />has <br /> <br />failed to comply with any such obligation, the City Manager <br /> <br />of the City shall notify Factory Stores in writing within <br /> <br />thirty <br /> <br />(30) <br /> <br />days after the deadline <br /> <br />for compliance <br /> <br />with <br /> <br />such obligation. <br /> <br />If such failure is not cured within sixty <br /> <br />(60) days from the date of receipt of such notice (the "Cure <br /> <br />Period"), then this Agreement may be terminated by the City, <br /> <br />provided however, that if the failure to comply or to cure is <br /> <br />the result of a force majeure event and Factory Stores cannot <br /> <br />with due diligence remedy the failure within the Cure Period, <br /> <br />the Cure Period shall be extended if Factory Stores, <br /> <br />upon <br /> <br />receipt of such notice, advises the City of Factory Stores' <br /> <br />intention <br /> <br />institute <br /> <br />all <br /> <br />to <br /> <br />steps <br /> <br />cure <br /> <br />such <br /> <br />to <br /> <br />necessary <br /> <br />failure, <br /> <br />and <br /> <br />if <br /> <br />Factory <br /> <br />Stores <br /> <br />thereafter <br /> <br />institutes <br /> <br />and <br /> <br />prosecutes to completion such cure. <br /> <br />In the event of <br />