(A) In the event of default under the agreement or a violation of this chapter, the city may suspend the incentive until such time as the default is cured or the city may terminate the incentive. If the incentive is terminated, the city may initiate legal proceedings, if necessary, to recover not less than the incentive amounts permitted to the approved company up to the date the incentive was terminated. The approved company shall immediately begin paying to the city the full occupational license fee withholdings for all employee upon notification of a suspension or termination of the incentive. All incentives previously credited shall be due and repayable within 30 days following notice of default unless otherwise agreed by the city.
(B) In the event the city must initiate legal proceedings to enforce its rights under the agreement and/or this chapter, it shall be entitled to collect its costs, reasonable attorney’s fees and any other charges incurred or authorized by the agreement or otherwise permitted by law.
(C) The failure of the city to declare a default in any event thereof shall not constitute a waiver thereof.
(D) The remedies contained in the agreement shall be cumulative and in addition to any other remedy authorized by law or agreement. The remedies may be exercised separately, together or in any combination thereof, and any such exercise shall not constitute a waiver of any remaining remedies.
(E) In an event of default, the approved company shall, in addition to the remedies specified in this section, pay a liquidated sum in an amount equal to the difference between the approved company’s projected schedule of employee withholdings and its actual employee withholdings generated by new jobs reported and/or paid to the city.
(Ord. 2013-03-01, passed 3-13-13)