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5.1 <br /> <br />does not create any third party beneficiary rights. :It is specifically <br />understood by the parties that: (a) the Project is a private <br />development; (b) County has no interest in or responsibilities for or <br />duty to third parties concerninc] any improvements to the Property <br />unless the County accepts the improvements pursuant to the <br />provisions of this Agreement or in connection with subdivision map <br />approval; and (c) Developer shall have the full power and exclusive <br />control of the Property subject to the obligations of the Developer <br />set forth in this 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) 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) 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 <br /> <br />Procedu(e upon Default. <br /> <br />(~) <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. After proper <br />notice and expiration of said thirty (30) day cure peribd <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) <br /> <br />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) <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 /> <br />