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• 8.3 The Buyer agrees that the City, on its own motion, may rezone the Property <br />to M-1, a more restricted industrial zone, from the current M-2 zoning, before or after closing. <br />Buyer agrees not to object to such a rezoning. <br />Section 9. Events of Default. <br />9.1 The unexcused failure of either party to perform any or all of its obligations <br />as set forth in this Agreement shall be an Event of Default; provided, however, that any failure <br />on the part of the Buyer to fulfill his obligations with respect to site development or construction <br />shall not be deemed an Event of Default until Authority has given Buyer notice of such failure <br />and a reasonable opportunity to cure any such failure. <br />9.2 In addition to any other remedies provided in this Agreement or available at <br />law or in equity, upon the occurrence of an Event of Default the non -defaulting party may, by <br />notice to the defaulting party, declare a default and: <br />(a) the non -defaulting party may sue for specific performance; <br />(b) if Buyer is the defaulting party, Buyer shall, within five (5) days of <br />demand therefor by Authority, deliver to Authority all site, engineering, architectural, or other <br />plans and all financial projections and construction budgets prepared by or for Buyer with <br />• respect to the Property. Further, if Buyer is the defaulting party, the deposit shall be retained <br />by the Authority. <br />Section 10. Miscellaneous. <br />10.1 Any notice, election, or consent required or permitted to be given under this <br />Agreement shall be given in writing and shall be deemed to have been duly given when hand - <br />delivered or when delivered by the United States registered or certified mail, return receipt <br />requested, postage prepaid, addressed as follows: <br />To Authority: <br />Charlottesville Industrial <br />Development Authority <br />c/o City Manager <br />P.O. Box 911 <br />Charlottesville, VA 22902 <br />with a copy to: <br />W. Clyde Gouldman, II <br />City Attorney <br />• P.O. Box 911 <br />Charlottesville, VA 22902 <br />To Buyer: <br />Oliver C. Kuttner <br />RR 4 HC626, Box 158 <br />Scottsville, VA 24590 <br />with a copy to: <br />Forbes R. Reback <br />700 E. High Street <br />Charlottesville, VA 22902 <br />Page 5 <br />