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8.2 The Property shall be delivered to the Buyer at Closing in its present physical condition, except as otherwise provided in this Agreement. It shall be Buyer's responsibility to • determine that all utility service required by Buyer is available to the Property. Section 9. Events of Default. 9.1 The unexcused failure of either party to perform any or all of its obligations as set forth in this Agreement shall be an Event of Default; provided, however, that any failure on the part of the Buyer to fulfill its obligations with respect to site development or construction shall not be deemed an Event of Default until Authority has given Buyer notice of such failure and a reasonable opportunity to cure any such failure. 9.2 In addition to any other remedies provided in this Agreement or available at law or in equity, upon the occurrence of an Event of Default the non -defaulting parry may, by notice to the defaulting party, declare a default and: (a) the non -defaulting party may sue for specific performance; (b) if Buyer is the defaulting party, (1) Buyer shall, within 5 days of demand therefor by Authority, deliver to Authority all site, engineering, architectural, or other plans and all financial projections and construction budgets prepared by or for Buyer with respect to the Property, (2) plus the actual direct "hard costs" of removing improvements erected thereon by Buyer, excluding architectural and loan fees and real estate commissions actually paid and excluding the amount of Buyer's earnest money deposit. Section 10. Miscellaneous. 10.1 Any notice, election, or consent required or permitted to be given under this Agreement shall be given in writing and shall be, deemed to have been duly given when hand - delivered or when delivered by the United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: To Authority: Charlottesville Industrial Development Authority c/o James Gahres P.O. Box 911 Charlottesville, VA 22902 To Buyer: Piedmont Building & Development Corporation Kurt Schlegel, President 911 E. Jefferson Street Charlottesville, VA 22902 Page 5