Section 11.2  LGU's Default

- The occurrence of any of the following events shall constitute the LGU's Default:

a.  LGU terminates, or cancels this Agreement without valid or justifiable cause;

b.  Any representation or warranty made by the LGU and relied upon by the PROPONENT-OPERATOR to its detriment turning out to be false in any material respect; and

c.  Failure or refusal to perform any material covenant, agreement or obligation under this Agreement within _____ days after receipt by the LGU of a notice of default specifying the same, provided, however, that such period shall be extended if the failure or refusal is remediable but cannot reasonably be completed within _____ days and the LGU begins to diligently remedy such failure.