Common use of Developer’s Remedies Clause in Contracts

Developer’s Remedies. Following a City Event of Default, Developer will have the option, as its sole and exclusive remedy at law or in equity, to: (a) Terminate this Agreement by delivery of notice to City, and Developer and City will each be released from all liability under this Agreement (except for those obligations that survive Termination); or (b) file in any court of competent jurisdiction an action for specific performance to require City to perform under this Agreement (but Developer will not be entitled to recover from City Monetary Damages, or reimbursement of any fees paid by Developer, in connection with the City Event of Default). Developer waives any and all rights it may now or later have to pursue any other remedy or recover any other damages on account of any City breach or default, including loss of bargain, special, punitive, compensatory or consequential damages.