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Initialed Section 11.7 of Agreement11.5 Force Majeure . Neither party shall be obligated to perform hereunder and neither party shall be deemed to be in default if performance is prevented by: a. fire which renders at least thirty percent (30%) of the cumulative facilities unusable and which is not caused by negligence of CONTRACTOR; b. Earthquake; hurricane; flood; act of God; civil commotion occurring at the Center during or in connection with any event; or other matter or condition of like nature; or c. Any law, ordinance, rule, regulation or order of any public or military authority stemming from the existence of economic or energy controls, hostilities, or war. The parties hereto acknowledge that CONTRACTOR'S obligations and benefits hereunder may be negat vely affected by an event of Force Majeure. If an event of Force Majeure occurs during he term of this Agreement, then the City Manager or his designee, in his sole discretion, may extend the term of this Agreement for a reasonable period of time: provided, however, such extension shall take effect only if CONTRACTOR agrees to such extension. 11.6 Labor Dispute. In the event of,a labor dispute which results in a strike, picket or boycott affecting the Center or operation described in this Agreement, CONTRACTOR shall not thereby be deemed to be in default o to have breached any part of this Agreement, unless such dispute shall have been caused illegal labor practices or violations by CONTRACTOR of applicable collective bargaining agreements and there has been a final determination of such fact which is not cured by CONTRACTOR within thirty (30) days. 11.7 Waiver of Loss from Hazards. The CONTRACTOR hereby expressly waives all claims against the City for loss or damage sustained by the CONTRACT resulting from fire, water, natural disasters/acts of God (e.g. hurricane, tornado, etc.), civil commotion, riot, or any thei orce Majeur contemplated in Subsection 11. and Labor Dispute in Subsecti n 14.6 bove, and t CONTRACTOR hereby expressly waives all rights, claims, and de ands against the and forever releases and discharges the City from all demands, claims, actions and causes of action arising from any of the aforesaid causes. e ty SECTION 12. DEFAULT AND TERMINATION . Subsections 12.1 through12.2 shall constitute events of default under this Agreement. An event of default by CONTRACTOR shall entitle City to exercise any and all remedies described as City's remedies under this Agreement, including but not limited to those set forth in Subsection 12.3. An event of default by City shall entitle CONTRACTOR to exercise any and all remedies described as CONTRACTOR'S remedies under this Agreement, including but not limited to those set forth in Subsection 12.4. 12.1 Bankruptcy . If either the City or CONTRACTOR shall be adjudged bankrupt or insolvent, or if any receiver or trustee of all or any part of the business property of either party shall be appointed, or if any receiver of all or any part of the business property shall be appointed and shall not be discharged within sixty (60) days after appointment, or if either party shall