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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 (305) 947-0606 phone (305) 949-3113 Fax invalid or unenforceable by virtue of the fact that any other or others of them may be invalid or unenforceable, in whole or in part for any reason. The section and paragraph headings are for convenience only and shall not affect the meaning or interpretation of this Agreement 37. Assignability. This Agreement shall not be assigned in whole or in part except by written agreement of the parties. The terms of this Agreement shall be binding and inure to the benefit of the parties hereto and their respective permitted successors and assigns. Nothing herein expressed or implied is intended to confer on any person other than the parties hereto any rights, remedies, obligations or liabilities under or by reason of this Agreement. 38. Events of Default, Termination of Agreement and Remedies. (a) The following shall constitute events of default: (1) Any material misrepresentations, written or oral, made by OSS and/or its representati ves; (2) Failure by OSS to timely perform and/or observe any of the terms and conditions of this Agreement; (3) Insolvency or bankruptcy on the part of OSS. (b) City, work Agreement. The occurrence of any event of default to the City may, at the sole option of the as an immediate and automatic forfeiture of any rights conferred under this (c) In the event that OSS default, the City shall have all legal remedies available to it, including but not limited to termination of this Agreement upon ten (10) days written notice to OSS. In the event of such termination, the City shall be entitled to refund of all deposits, fees and costs paid to OSS. 39. Uncontrollable Circumstances ("Force Majeure"): The City and OSS will be excused from the performance of their respective obligations under this agreement when and to the extent that their performance is delayed or prevented by any circumstances beyond their control including, fire, flood, explosion, strikes or other labor disputes, act of God or public emergency, war, riot, civil commotion, malicious damage, act or omission of any governmental authority, delay or failure or shortage of any type of transportation, equipment, or service from a public utility needed for their performance, provided that: (a) the non-performing party gives the other party prompt written notice describing the particulars of the Force Majeure including, but not limited to, the nature of the occurrence and its expected duration and continues to furnish timely reports thereto during the period of the Force Majeure; C0708-028 ass Powerboat Racing Agreement 15 f{