Common use of FAILURE TO COMPLETE CONSTRUCTION Clause in Contracts

FAILURE TO COMPLETE CONSTRUCTION. In the event Developer fails to observe the Project Schedule or timely complete Construction of the Project, LAUSD shall have the right to pursue all rights and remedies available at law. In addition to the foregoing, ▇▇▇▇▇▇▇▇▇ agrees LAUSD shall have the right, but not the obligation, to pursue the completion of Construction of the Project and ▇▇▇▇▇▇▇▇▇ agrees that if LAUSD makes such election Developer authorizes LAUSD to deduct from the general revenue account of the Ocean Charter school an administrative management fee in an amount equivalent to the actual costs and expenses incurred by LAUSD for its employee(s) or agent to complete Construction of the Project. The phrase "general revenue account" shall mean the general purpose entitlement and categorical block grant, as defined in subdivisions (a) and (b) of the California Education Code Section 47632. If LAUSD elects not to complete Construction of the Project, LAUSD shall secure the Campus and Developer authorizes LAUSD to deduct from the general revenue account of the Ocean Charter school the costs incurred by LAUSD to secure the Campus and an administrative management fee in an amount equivalent to the actual costs and expenses incurred by LAUSD for its employee(s) or agent to secure the Campus and maintain reasonable security to minimize damage and/or destruction of the Campus, Project and supplies.