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remains in effect and Owner is not in default. Owner may record the Letter <br />in the Official Records of the County of Orange. <br />6.3 Failure of--Reriodisto Conduct Annual Review. City's failure to review at <br />least annually Owner's compliance with the terms and conditions of this <br />First Amended and RestatesDeylrltr Agreement shall not <br />constitute or be asserted by any paoy__ar as a breach of thefts First <br />Amme_ndod and Restak_od-D)_eyo1o__ tent Agreement by Owner or City. <br />7. DEFAULT. <br />7.1 Events of Default. Property-Owner is in default under this First Amended <br />and Rest ted Development Agreement upon the happening of one or <br />more of the following events or conditions: <br />aM (44-If a warranty, representation, or statement made or furnished by <br />Property-Owner to the City is false or proves to have been false in <br />any material respect when it was made; <br />(2-}-A finding and determination made by the City Council following <br />a periodic review under the procedure provided for in Government <br />Code Section 65865. 165865.1 that upon the basis of substantial <br />evidence the Rroperty-Owner has not complied in good faith with <br />one or more of the terms or conditions of this First Amended and <br />Restated Development Agreement; <br />M (3yFailure to comply with Governmental Requirements; <br />(4)--Any other event, condition, act, or omission which materially <br />interferes with the intent and objectives of this First Amended and <br />Restated Development Agreement. <br />7.2 Procedure <br />(1)-Upon the occurrence of default, City shall give Rfopefty-Owner <br />(the "defaulting party") thirty (30) days written notice specifying the <br />nature of the alleged default and, when appropriate, the manner in <br />which said default may be satisfactorily cured. After proper notice <br />and expiration of said thirty (30) day cure period without cure, City <br />may terminate or amend this First Amended and Restated <br />Deyeloarnen Agreement in accordance with the procedure <br />adopted by the City as to all defaults that may be cured within said <br />thirty (30) day cure period. For defaults that cannot be cured within <br />said thirty (30) day cure period, City may terminate or amend this <br />6.VA20676 i2w?47,15544M32v2 21- <br />75A-77