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• -, 80 3 08/2?16/20 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 0 135 08/16/2005 03:47P • Boulder County Clerk, CO COVENANT R 76.00 D 0.00 • 7.1 Right to Enforce. The City reserves, and Developer, all proposed Eligible Buyers and the Unit Owners are deemed to have granted the City, the right to review and enforce compliance with all provisions of this Covenant, as further set forth in this Section 7.1. (a) In the event that the City has reasonable cause to believe that the Developer or a Unit Owner is in default of any of the provisions of this Covenant, then the City Manager, or his or her designee, may inspect the Unit owned by the Developer or such Unit Owner between the hours of 8:00 a.m. and 7:00 p.m., Monday through Saturday, after providing the Developer or such Unit Owner no less than twenty-four hours advance written notice. (b) In the event of any default under this Covenant, the City shall give the Developer, Unit Owner or proposed Eligible Buyer who is in default, thirty(30) days written notice of such default, which notice shall state the nature of the default. If the default is not cured to the satisfaction of the City within thirty(30) days from the giving of such notice, the City may pursue any or all remedies available to it, as set forth in Section 7.1(c)below. (c) The City hereby reserves the right to enforce this Covenant by pursuing any and all remedies provided by law or in equity. The City's remedies shall include, by way of example and not limitation, the right to specific performance of this Covenant, the right to a mandatory injunction requiring the sale of a Unit in conformance with this Covenant, the disgorgement of profits received from any sale conducted in violation of this Covenant, and damages and'injunctive relief for breach of this Covenant. All of the remedies available to the • City shall be cumulative, and the City's election to pursue any remedy shall not preclude the City from then or later pursuing any one or more other remedies. • (d) [n the event the City resorts to litigation with respect to any default under this Covenant, and the City prevails, the City shall be entitled to recover its damages and costs, including reasonable attorneys' fees and expert witness fees. The party in default hereunder shall be responsible for the costs of any Court-ordered sale of a Unit required to enforce the provisions of this Covenant. Venue for any action for breach of, or to enforce, this Covenant shall be proper in Boulder County, Colorado. (e) In the event any Unit is transferred in a manner that is not in full compliance with the provisions of this Covenant, such transfer shall be wholly null and void and shall confer no title whatsoever upon the purported transferee. 7.2 Enforcement Costs. As part of any enforcement action by the City, the defaulting Unit Owner shall be liable for all court costs and reasonable attorneys' fees incurred by the City in connection therewith, including an amount to pay for the time, if any, of the City Attorney's office spent on such matter at the rates generally charged for similar services by private practitioners within the City. 7.3 Event of Foreclosure. Upon application to the City, the City shall waive its ability to enforce the provisions of this Covenant against the holder of a First Deed of Trust in the event of the foreclosure or deed-in-lieu of foreclosure of a First Deed of Trust, or the • assignment of a First Deed of Trust to HUD, Freddie Mac, Fannie Mae, the Government National Mortgage Association, or other similar governmental or quasi-governmental agency or Congressional chartered company guaranteeing mortgages. Any such waiver shall be effected 7 •