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AG 2004 07 26
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AG 2004 07 26
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Last modified
3/9/2006 9:20:03 PM
Creation date
11/27/2017 11:38:35 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/26/2004
Board
Board of Commissioners
Meeting Type
Regular
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5.1 <br /> <br />control of the Property subject to the obligations of the Developer <br />set forth in th~s Agreement. <br /> <br />Default. <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) <br /> <br />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 respect when <br />it was made; <br /> <br />(2) <br /> <br />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 comphed ~n <br />good faith with one or more of the terms or conditions <br />of ths Agreement. <br /> <br />(3) <br /> <br />Any other event, condition, act or omission which <br />materially interferes with the intent and objectives of <br />th~s Agreement. <br /> <br />5.1.2 Procedure upon Default. <br /> <br />(1) <br /> <br />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. Alter proper <br />notice and expiration of said thirty (30) day cure period <br />w~thout cure, Cabarrus County may terminate or amend <br />this Agreement in accordance with the procedure <br />adopted by Cabarrus County. Failure or delay ~n g~ving <br />notice of default shall not constitute a waiver of any <br />default, nor shall it change the time of default. <br /> <br />(2) <br /> <br />Cabarrus County does not waive any claim of defect in <br />performance by Developer, if on periodic rewew <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) <br /> <br />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 />(s) <br /> <br />Adoption of a law or other governmental actIvity making <br />performance by the applicant unprofitable or more <br />d~fficult or more expensive does not excuse the <br />performance of the obligabon by the Developer. <br /> <br />(6) All other remedies at law or in equity which are not <br /> consistent with the provisions of th~s Agreement or are <br /> <br />7 <br /> <br /> <br />
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