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EXHIBIT 2 <br /> 14.17 Restoration, Nothing in this Article 15 shall be construed to excuse Grantee <br /> from repairing and restoring all damage to the Property in accordance with other Grant <br /> Document provisions. <br /> 14.1$ Condemnation• Treatment of Com a Lgion. <br /> (a) Subject to any superior rights of Senior Lender, Grantee hereby assigns to <br /> the City, as security for all Obligations to City secured by a lien on.the Property,all amounts � <br /> payable to Grantee in connection with any Condemnation, and any proceeds of any related <br /> settlement(collectively, "Compensation"), Subject to any superior rights of Senior Lender, <br /> Grantee shall deliver such remaining Compensation to City immediately upon receipt, if the i <br /> taking results in a loss of the Property to an extent that, in the reasonable opinion of city, f <br /> renders or is likely to render the Property not economically viable or if,in City's reasonable j <br /> Judgment Grantee's security is otherwise impaired, City may apply the Compensation received 1 <br /> due to judgment or settlement in connection with any condemnation or other taping to repay the <br /> Grant, If so applied, any award in excess of the Grant repayment and other sums due to City <br /> shall be paid to Grantee or Grantee's assignee. City shall have no obligation to glee any action in <br /> connection with any actual or threatened condemnation or other proceeding. <br /> N Notwithstanding the foregoing, as.long as the value of City's liens are not <br /> impaired,, any condemnation proceeds may be used by the Grantee for repair and/or restoration <br /> of the Project. <br /> 1 <br /> 14.19 Waiver of S bro ation. Grantee hereby waives all rights to recover against the . <br /> City(or any officer, employee, agent or representative of City)for any loss incurred by Grantee j <br /> :from any cause insured;provided,however, that this waiver of subrogation shall not be I <br /> effective with respect to any insurance policy if the coverage thereunder would be materially <br /> reduced or impaired as a result. Grantee shall use its best efforts to obtain only policies that <br /> permit the foregoing waiver of subrogation. 1 <br /> 15. DEFAULTS AND REMEDIES <br /> 151 Events of Default. Failure or delay by either party to perform any material term <br /> or provision of this Agreement within the time periods provided herein for such performance <br /> constitutes a default under the Agreement. If any party defaults in performance of its material <br /> obligations, covenants or agreements hereunder,the defaulting party shall be entitled to cure the <br /> default in accordance with this section. The injured party shall give written notice of default to i <br /> the party in default,specifying the default complained of by the injured party. Delay in giving <br /> such notice shall not constitute a waiver of any default nor shall it change the time of default. <br /> Unless a specific time to care is set forth below,the defaulting party must, within thirty (30) <br /> days following service of said written notice, commence to cure, correct or remedy such failure <br /> or delay and shall complete such cure, correction, or remedy with reasonable diligence, <br /> provided that any cure must occur within ninety(90)-days, or such shorter time specified below. E <br /> Without limitation, the occurrence of any of the following, whatever the reason therefore which <br /> is not cured, shall constitute an Event of Default by Grantee: j <br /> s <br /> City Council 16 — 37 5/19/2026 <br />