§ 7C-7. Default.

In the event of owner default of any of the terms and conditions of the contract as set forth in the qualifying programs, the Town shall provide written notice allowing the owner three business days to cure or correct the default. In the event that the owner has not cured or taken measures to cure the default to the Town's satisfaction within three business days of the date of notice the Town may, in its sole discretion, declare the contract terminated and direct that all work on the project stop immediately or take other measures to address the default, the cost of which will be borne solely by the owner. In the event of default, the owner will be responsible for any of the costs of work which the Town is obligated to pay to the contractor and any other parties as a result of the project. In such event, the Town, in its sole discretion, may require immediate payment in full of the amount due, or the Town may require the owner to make payment in accord with the payment terms or any modification thereof, which the owner will be obligated to follow.