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interest in this Agreement; or (iv) is any assignment for the benefit of creditors <br /> proceeding; however, if such a petition is filed against NWS,then such NWS Event <br /> of Default will be deemed cured if NWS has the proceedings initiated by such <br /> petition dismissed within ninety (90) days after its filing. If the proceedings are <br /> not so dismissed,then the City may issue a notice of termination as set forth below <br /> in this Section 15. <br /> The City may deliver to NWS a written notice of termination in the circumstances as set <br /> forth above in this Section 15. Within thirty (30) days after such delivery (or such longer <br /> time as the City in its sole discretion may provide), NWS must (1) cure the NWS Event(s) <br /> of Default; (2) pay all amounts due and owing to the City under this Agreement, so that <br /> NWS is fully current under the Agreement; and (3) pay to the City a $2500 reinstatement <br /> fee. If such cure and payments do not so occur, then this Agreement terminates upon <br /> the expiry of the thirty (30) days (except for provisions necessary for the City to exercise <br /> its remedies hereunder) and NWS must immediately surrender and deliver the Ballfield <br /> Property to the City in accordance with Section 13 above. <br /> 16. CITY EVENT OF DEFAULT. <br /> Except as otherwise provided in this Section or elsewhere in this Agreement, it is a "City <br /> Event of Default" for the City to fail to perform, comply with, or observe any agreement <br /> or obligation of the City under this Agreement (including without limitation failure to <br /> maintain or repair the Ballfield Property as required under this Agreement) when such <br /> failure continues for a period of more than thirty(30) days after NWS has delivered to the <br /> City written notice thereof or such shorter or longer period expressly provided elsewhere <br /> in this Agreement (provided, if the nature of the City's failure is such that more time is <br /> reasonably required in order to cure, a City Event of Default shall not be deemed to have <br /> occurred and such failure may be cured if the City commences to cure such failure within <br /> such period and thereafter reasonably, continuously and diligently pursues the cure to <br /> completion). If the City does not so proceed to cure the City Event of Default, then the <br /> NWS may undertake one or more of the following: <br /> (a) With respect to maintenance and repair of the Ballfield Property, NWS may take <br /> such actions as reasonably necessary to remedy the City Event(s) of Default, and <br /> NWS may recover from the City all costs and expenses incurred by NWS in <br /> connection with the remedy, plus an 20% administration fee thereon, by <br /> deduction of such amounts from monthly fees and utility payments otherwise due <br /> and/or by demand for payment,which the City will pay within thirty(30) days after <br /> demand. <br /> (b) NWS may seek specific performance from a court of competent jurisdiction. <br /> (c) In the event that the uncured City Event(s) of Default are material, causing NWS <br /> to lose a substantial portion of the overall benefit to NWS of this Agreement,then <br /> NWS may issue a final notice of uncured default as set forth below in this Section <br /> 16. <br /> 10 <br />