Termination for Failure to Begin Development. Provided the City gives Developer prior notice of such termination and Developer fails to cure within 30 days of receipt of notice; the City shall have the right to terminate this Agreement upon which action it shall be of no further force and effect if the Developer has not either: (a) issued a Notice to Proceed on a construction project within the Tract, or (b) actually commenced work, with or without a “Notice to Proceed” on such a construction project, within three (3) years from the date of this Agreement. As used in this Section 2.05, “construction project” means any work on the Tract or on rights-of-way adjacent to the Tract that is necessary to be carried out in the process of development of the Tract as a single-family community, including, without limitation, utilities installation and paving.
Appears in 3 contracts
Sources: Development Agreement, Development Agreement, Development Agreement