Agenda - 11-16-2010 - 4k - Laserfiche WebLink

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• (c) The County breaches or fails to perform or observe any term, condition or covenant of this Contract, the Deed of Trust or the Trust Agreement on its part to be observed or performed, other than as referred to in subsections (a) or (b) above, including payment of any Additional Payment, for a period of 90 days after written notice specifying such failure and requesting that it be remedied has been given to the County, unless the Company agrees in writing to an extension of such time prior to its expiration; provided, however, that if the failure stated in the notice cannot reasonably be corrected within the applicable period and the County institutes corrective action within the applicable 90-day notice period, no Event of Default will be deemed to have occurred so long as the County diligently pursues the same. (d) Any warranty, representation or statement made by the County in this Contract, in the Deed of Trust or in the Trust Agreement is found to be incorrect or misleading in any material respect as of the Closing Date. (e) Any lien, charge or encumbrance (other than Permitted Encumbrances) prior to or affecting the validity of the Deed of Trust is found to exist, or proceedings are instituted to enforce any lien, charge or encumbrance against the Mortgaged Property and such lien, charge or encumbrance would be prior to the lien of the Deed of Trust. • 9.2. Remedies on Default. Upon the continuation of any Event of Default, the ' Company may, without any further demand or notice, exercise any one or more of the following remedies: (a) Declare the unpaid principal components of the Installment Payments, and the accrued interest thereon, immediately due and payable; (b) Proceed by appropriate court action to enforce performance by the County of the applicable covenants of this Contract, the Deed of Trust or the Trust Agreement or to recover for the breach thereof; and (c) Avail itself of all available remedies under the Deed of Trust, including foreclosure on the Facilities and recovery of attorneys' fees and other expenses, and of all other remedies available at law or in equity. The Company's exercise of remedies is subject to the limitations set forth in Article XI. 9.3. No Remedy Exclusive; Delay Not Waiver. All remedies under this Contract are cumulative and may be exercised concurrently or separately. The exercise of • any one remedy will not be deemed an election of such remedy or preclude the exercise of any other remedy. If any Event of Default occurs and is thereafter waived, such waiver 17