section 4.3. further instruments. the city shall, upon the reasonable request of the developer, from time to time execute and deliver such further instruments and take such further action as may be reasonable and as may be required to carry out the provisions of this agreement; provided, however, that no such instruments or actions shall pledge the credit of the city or require any payment or expense by the city (unless paid by developer) or discharge either party or change any provision of this agreement. section 4.4. no disposition of developer subaccount. except as permitted hereunder, the city shall not sell, lease, pledge, assign or otherwise dispose, encumber or hypothecate any interest in the developer subaccount of the project cost account and will promptly pay or cause to be discharged or make adequate provision to discharge any lien, charge or encumbrance on any part thereof not permitted hereby.
section 4.5. access to books and records. all books, records and documents in the possession of the city relating to the district, the development program, the agreement and the monies, revenues and receipts on deposit or required to be deposited into the development program fund and the developer subaccount of the project cost account shall at all reasonable times be open to inspection by the developer, its agents and employees. all books, records and documents of the developer reasonably necessary to the verification of project costs shall at all reasonable times be open to inspection by the city, its agents and employees, provided, however, that any information reasonably designated by developer as proprietary shall be inspected in a manner so as to preserve the confidential nature of such information.
article v
defaults and remedies
section 5.1. events of default. each of the following events shall constitute and be referred to in this agreement as an 'event of default':
(a) any failure by the city or the developer to pay any amounts due hereunder when the same shall become due and payable;
(b) any failure by the city to make deposits into the developer subaccount of the project cost account as and when due;
(c) any failure by the city or the developer to observe and perform in all material respects any covenant, condition, agreement or provision contained herein on the part of the city or developer to be observed or performed, which failure is not cured within thirty (30) days following written notice thereof; provided, however, that this subsection (c) shall not be construed to include developer's failure to pay property taxes for any reason as an event of default hereunder;