Orange County NC Website
32 <br /> (b) The County shall fail to perform or observe any <br /> other term, condition or covenant of this Contract on its part <br /> to be observed or performed, or shall breach any warranty by <br /> the County herein contained, other than as referred to in <br /> subsection (e) of this Section 10 . 1, for a period of ten (10) <br /> days after written notice, specifying such failure or breach <br /> and requesting that it be remedied, has been given to the <br /> County by the Lender, except that if such failure or breach <br /> can be remedied but not within such ten (10) day period and if <br /> the County has taken all action reasonably possible to remedy <br /> such failure or breach within such ten (10) day period, such <br /> failure or breach shall not become an Event of Default for so <br /> long as the County shall diligently proceed to remedy the same <br /> in accordance with and subject to any directions or <br /> limitations of time established by the Lender; or <br /> (c) Proceedings under any bankruptcy, insolvency, <br /> reorganization or similar litigation shall be instituted by or <br /> against the County, or a receiver, custodian or similar <br /> officer shall be appointed for the County or any of its <br /> property, and such proceedings or appointments shall not be <br /> vacated or fully stayed after the institution or occurrence <br /> thereof; or <br /> (d) Any warranty, representation or statement made by <br /> the County is found to be incorrect or misleading in any <br /> material respect on the date made; or <br /> (e) Any lien, charge or other encumbrance is filed <br /> against the Property; or <br /> (f) Any insurance carrier cancels any insurance on the <br /> Property without the County' s first providing replacement <br /> coverage meeting the requirements of the Lender and Section <br /> 5 . 6 hereof; or <br /> (g) The Property or any part thereof is abused, <br /> illegally used, misused, destroyed or damaged beyond repair. <br /> (h) Construction of the Improvements shall cease and not <br /> be resumed within thirty (30) business days, except to the <br /> extent that said cessation is as the result of force majeure, <br /> or shall be abandoned; or <br /> (i) Any of the materials, fixtures, machinery, <br /> equipment, articles and/or personal property used in the <br /> construction of the Improvements or the appurtances thereto, <br /> or to be used in the operation thereof, or any work performed <br /> in connection with the construction of the Improvements, shall <br /> not substantially conform with the Plans and Specifications as <br /> approved by Lender and such nonconformity shall not be cured <br /> 11 <br />