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<br />80DK5286 PAGE 277 <br /> <br />5.1 QgfayJj;. <br /> <br />5.1.1 Events of Default.. Developer is in default under this <br />Agreement upon the happening of one or more of the <br />following events or conditions: <br /> <br />(1) If a warranty, representation or statement made or <br />furnished by Developer to Cabarrus County is false or <br />proves to have been false in any material respectwhen <br />it was made; <br /> <br />(2) A finding and determination made by Cabarrus County <br />following a periodic review that upon the basis of <br />substantial evidence the Developer has not complied in <br />good faith with one or more of the terms or conditions <br />of this Agreement. <br /> <br />(3) Any other event, condition, act or omISSion which <br />materially interferes with the intent and objectives of <br />this Agreement. <br /> <br />5.1.2 Procedure uoon Default. <br /> <br />(1) Upon the occurrence of default, County shall give <br />Developer (the "defaulting party") thirty (30) days <br />written notice specifying the nature of the alleged <br />default and, when appropriate, the manner in which <br />said default may be satisfactorily cured. After proper <br />notice and expiration of Said thirty (30) day cure period <br />without cure, Cabarrus County may terminate or amend <br />this Agreement in accordance with the procedure <br />adopted by Cabarrus County. Failure or delay in giving <br />notice of default shall not constitute a waiver of any <br />default, nor shall it change the time of default. <br /> <br />(2) Cabarrus County does not waive any claim of defect in <br />performance by Developer, if on periodic review <br />Cabarrus County does not propose to modify or <br />terminate this Agreement. <br /> <br />(3) Non-performance shall not be excused because of a <br />failure of a third person. <br /> <br />(4) An express repudiation, refusal or renunciation of the <br />contract, if the same Is in writing and signed by the <br />Developer, shall be sufficient to terminate this <br />Agreement and a hearing on the matter shall not be <br />required. <br /> <br />(5) Adoption of a law or other governmental activity making <br />performance by the applicant unprofitabie or more <br />difficult or more expensive does not excuse the <br />performance of the obligation by the Developer. <br /> <br />(6) All other remedies at law or in equity which are not <br />consistent with the provisions of this Agreement or are <br />available to the parties to pursue in the event there is a <br />breach. <br /> <br />G-$ <br /> <br />7 <br />