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2013-003 RES APPROVING EXECUTION AND DELIVERY OF LOAN AGREEMENT WITH LOAN FORGIVENESS
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2013-003 RES APPROVING EXECUTION AND DELIVERY OF LOAN AGREEMENT WITH LOAN FORGIVENESS
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1/25/2017 11:17:37 AM
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CITY CLERK
CITY CLERK - Date
1/14/2013
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� <br />--� <br />ARTICLE VI. NON-PERFORMANCEAND REMEDIES <br />6.01. STOP WORK ORDERS. <br />A. Stop Work Order (,SWO�. The Executive Administrator may issue a written SWO to the City at <br />any time for failure to comply with any provision of this Agreement. The SWO shall provide the <br />City with notice of the facts supporting the determination to issue the SWO. The SWO may <br />require cessation of work immediately or at a definite future date. The SWO shall provide the <br />City with a specified time to cure. <br />B. Ci .'s Response. The City shall provide a written response to the SWO and shall provide the <br />Executive Administrator with a detailed plan to address and cure the conditions causing the <br />SWO. The City shall provide the response within five business days from its receipt of the <br />SWO. <br />C. Executive Administrator's Replv. The Executive Administrator may accept, reject or amend the <br />City's plan and shall provide notice of such action to the City within five business days of receipt <br />of the plan. The Executive Administrator may issue an amended SWO that allows resumption of <br />work contingent upon the CiTy's execution of the plan to cure. The Executive Administrator may <br />modify the City's plan to cure only in a manner consistent with the terms and conditions of this <br />Agreement. <br />D. City's Option. The City shall notify the Executive Administrator within five business days <br />whether it accepts the amended plan. If the City does not accept the amended plan, the <br />Executive Administrator may terminate this Agreement. Upon successful completion of the plan <br />to cure the conditions causing the SWO, the City shall continue work to complete all obligations <br />under this Agreement. <br />6.02. TERMINATION. The TWDB may terminate this Agreement in writing at any time. Upon <br />receipt of a notice of termination, the City shall immediately discontinue all work in connection with the <br />performance of this Agreement and shall promptly cancel all existing orders or other financial <br />commitments chargeable to funding provided pursuant to this Agreement; provided, however, that any <br />costs for Eligible Expenses incurred prior to the receipt of such written notice by the City shall be <br />payable from the funding provided pursuant to this Agreement. <br />Within thirty days of the notice of termination, the City shall submit a statement showing in detail the <br />work performed, all payments received by the City, and all payments made by or due from the City to <br />any contractor prior to the date of termination. <br />6.03. SURVIVAL OF TERMS AND CONDITIONS. <br />A. Termination or expiration of this Agreement for any reason shall not release either Party from <br />any liabilities or obligations set forth in this Agreement that: <br />the Parties have expressly agreed shall survive any such termination or expiration, if any; <br />or <br />Page 10 of 14 <br />�.��_oo� <br />
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