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Agreement; or (b) For the taking, impairment or restriction of any right or interest conveyed or provided under or pursuant to this Agreement; or (e) Arising out of or connected with any dispute, controversy or issue regarding the application or interpretation or effect of the provisions of this Agreement. 71 Release. Except for non -monetary remedies, OWNER, for itself, its successors and assignees, hereby releases CITY, its officers, agents and employees from any and all claims, demands, actions, or suits of any kind or nature arising out of any liability, known or unknown, present or future, including, but not limited to, any claim or liability, based or asserted, piusuant to Article I, Section 19 of the California Constitution, the Fifth and Fourteenth Amendments to the United States Constitution, or any other law or ordinance which seeks to impose any other liability or damage, whatsoever, upon CITY because it entered into this Agreement or because of the terms of this Agreement. OWNER hereby acknowledges that it has read and is familiar with the provisions of Cali forma Civil Code Section 1542, which is sea forth below: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT Tl-IE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HLM OR HER, WOIJLD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH l'HE DEBTOR OR RELEASED PARTY. BY INITIALING BELOW, OWNER HEREBY WAIVES THE PROVISIONS OF SECTION 1542 IN CONNECTION WITH THE NLATMRS THAT ARE THE SUBJECT OF THE FOREGOING WAIVERS AND RELEASES. I, 1 0"I'S Initials 7.3 Termination or Modification of Agreement for Default of OWNER. CITY may terminate or modify this Agmement for any failure of OWNER to perform any material duty or obligation of OWNER under this Agreement, or to comply in good faith with the terms of this Agreement (hereinafter referred to as "default"): provided, however. CITY may terminate or modify this Agreement pursuant to this Section only after providing written notice to OWNER of default setting forth the nature of the default and the actions, if any, required by OWNER to cure such default and, where the default can be cured, OWNER has failed to take such actions and cure such default within sixty (60) days after the effective date of such notice or, in the event that such default cannot be cured within such sixty (60) day period 'out can be cured within a longer time, has failed to commence the actions necessary to cum such default within such sixty (60) day period and to diligently proceed to complete such actions and cure such default. -20- 55394 "M31553187.13