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8/20/2014 2:16:44 PM
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8/20/2014 2:13:17 PM
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Correspondence
PW_Division
Parks and Open Space
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19.2 Recurring Default. If WISTEC cures a default in the manner described in Section <br />19.1.3 above, in the event of WISTEC's subsequent failure to comply with the same <br />obligation within any twelve (12) consecutive months or WISTEC's violation of the <br />same provision within any twelve (12) consecutive months, no notice of the <br />obligation or violation will need to be given prior to declaring a default. <br />20. Waiver. Any waiver by City or WISTEC of strict compliance with the terms of this Lease <br />must be in writing, signed by the waiving party, and shall not be a waiver of any subsequent <br />or other noncompliance, violation, breach or default. <br />21. Remedies on Default if a Default Occurs. Upon the occurrence of an event of default by <br />WISTEC: <br />21.1 Termination. This Lease may be terminated at the option of City by giving written <br />notice to WISTEC. <br />21.2 Damages Without Termination. City may elect to continue this Lease, and to <br />recover damages from the party in default. <br />21.3 Cure Rights. City may elect to cure the default and recover from WISTEC the cost <br />of the cure upon demand, together with interest at the rate of twelve percent (12 %) <br />per annum from the date of demand. <br />21.4 Cumulative Rights. City shall be entitled to any other right or remedy provided in <br />this Agreement, in any other agreement between City and WISTEC (including, but <br />not limited to, the Option Agreement executed contemporaneously herewith), at law <br />or in equity, all of which rights and remedies are cumulative and may be exercised <br />singularly, simultaneously, concurrently or successively. <br />22. Termination. This Lease may be terminated by mutual written agreement of WISTEC and <br />City. <br />23. Attorney Fees. In the event any legal proceeding is commenced for the purpose of <br />interpreting or enforcing any provision of this Lease, rescinding the Lease, or to collect any <br />indebtedness hereunder, the prevailing party in such proceeding shall be entitled to recover <br />reasonable attorney fees in the proceeding, or any appeal or review thereof, to be set by the <br />court without the necessity of hearing testimony or receiving evidence, in addition to the <br />costs and disbursements allowed by law. In addition, in the event of default by either party <br />in performance of this Lease, the defaulting party agrees to pay all reasonable attorney fees <br />and legal expenses incurred by the non - defaulting party in collecting any sums due <br />hereunder, even though no litigation is filed. <br />24. Severability. Invalidation of any term or provision herein by judgment or court order, or <br />otherwise, shall not affect any other provision, which will remain in full force and effect. <br />GROUND LEASE - 8 <br />
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