Common use of DECLARATION OF DEFAULT Clause in Contracts

DECLARATION OF DEFAULT. Upon the happening of any event of default, the City may claim default by giving written notice to the Developer. In the event that the default is not cured or reasonable steps have not been taken by the Developer to cure such default within thirty (30) days from the date such notification is mailed by the City, the City shall be entitled to avail itself of any and all rights it may have with respect to that default, such as are defined pursuant to the terms of this Agreement, or by common law or equity or under any statute.