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remains in effect and Owner is not in default. Owner may record the Letter in the Official Records of the County of Orange. 6.3 Failure of Perlodlsto_ Conduct Annual Review. City's failure to review at least annually Owner's compliance with the terms and conditions of this First Amendesf_atid__ Restated Dev__ opm -fit Agreement shall not constitute or be asserted by any partyFartiv as a breach of thet_his�it Amended and f slate open ?at Agreement by Owner or City, 7. DEFAULT. 7,9 Events of Default, Property -Owner is in default under this First Amended and Ees.,tated Development Agreement upon the happening of one or more of the following events or conditions: t,q) (1Y•If a warranty, representation, or statement made or furnished by Property -Owner to the City is false or proves to have been false in any material respect when it was made; tM (-2)-A finding and determination made by the City Council following a periodic review under the procedure provided for in Government Code Section 6N65.-165865.1 that upon the basis of substantial evidence the Property -Owner has not complied in good faith with one or more of the terms or conditions of this First Anon and _Ftestated..Devro pea Agreement; (� c. (4 }Failure to comply with Governmental Requirements; (d) (4) -Any other event, condition, act, or omission which materially interferes with the intent and objectives of this Fist Amende_t! tar d $oted_t7ryelopment Agreement. 7.2 Procedure upon Default, _Tb talloyyina principles and prop... gres. 11aII be applied in the mriDatWrt gf.a Default_ fa (t) -Upon the occurrence of default, City shall give Property -Owner (the "defaulting party ") thirty (30) days written notice specifying the nature of the alleged default and, when appropriate, the manner in which said default may be satisfactorily cured. After proper notice and expiration of said thirty (30) day cure period without cure, City may terminate or amend this First Amended and _ Restated Devement Agreement in accordance with the procedure adopted by the City as to all defaults that may be cured within said thirty (30) day cure period. For defaults that cannot be cured within said thirty (30) day cure period, City may terminate or amend this 65962006_12\047 )1511A8832Y25, _21_ 75A -77