NWS HOLDINGS LLC 12/30/2024 - Laserfiche WebLink

(b) Failure to Complete NWS Project(s). It is an NWS Event of Default for NWS to fail to complete the required NWS Initial Project or NWS Extension Term Turf Project in accordance with the attached Exhibit C and Exhibit D, in which case this Section 15 does not apply and remedies for such NWS Event(s) of Default are as set forth in Exhibit C and Exhibit D. (c) Abandonment. It is an NWS Event of Default for NWS to abandon or vacate the Ballfield Property or any substantial portion of the Ballfield Property combined with the non-payment of monthly fee. If such abandonment with monthly fee non-payment occurs more than three consecutive months,then the City may issue a notice of termination as set forth below in this Section 15. (d) Other Defaults. Except as otherwise provided in this Section or elsewhere in this Agreement, it is an NWS Event of Default for NWS to fail to perform, comply with, or observe any other agreement or obligation of NWS under this Agreement (including without limitation failure to maintain or repair the Ballfield Property as required under this Agreement or failure to provide the Services as set forth in the attached Exhibit B) if such failure continues for a period of more than thirty (30) days after City has delivered to NWS written notice thereof or such shorter or longer period expressly provided elsewhere in this Agreement (provided, if the nature of NWS's failure is such that more time is reasonably required in order to cure, an NWS Event of Default shall not be deemed to have occurred and such failure may be cured if NWS commences to cure such failure within such period and thereafter reasonably, continuously, and diligently pursues the cure to completion). If NWS does not so proceed to cure the NWS Event(s) of Default under this subsection (d), then the City may undertake one or more of the following remedies: i. The City may enter upon the Ballfield Property and/or take other action(s) as reasonably necessary to remedy the NWS Event(s) of Default (and the City may bar use of Ballfield Property until such remedy is complete), and NWS shall reimburse the City for all costs and expenses incurred by the City in connection with the remedy, plus a 20%administration fee thereon, within thirty (30) days after demand. ii. The City may seek specific performance for the NWS Event(s) of Default from a court of competent jurisdiction. iii. The City may turn off water, sewer, electricity and/or gas service to the Ballfield Property until the NWS Event(s) of Default are cured. iv. The City may issue a notice of termination as set forth below in this Section 15. (e) Insolvency. The filing of a petition by or against NWS is an NWS Event of Default if such filing (i) is in any bankruptcy or other insolvency proceeding; (ii) seeks any relief under any state or federal debtor relief law; (iii) is for the appointment of a liquidator or receiver for all or substantially all of NWS's property or for NWS's 9