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transferred. If any such transfer is Made before the apecial <br />assessments have been levied^ the Subdivider shall pay the City a <br />sun of cash equal to the City Engineer's estinate of the special <br />assessments for Plan B Improvements that will be levied against the <br />property to be so transferred. The Subdivider shall be liable to <br />the City for any deficiency* and the City shall pay to the <br />Subdivider any overplus arising from payment based on such <br />estimate. Hereafter* any reference to special assessments shall <br />include any such estimated special assessments. <br />D. Acceleration Opon Default, in the event <br />Subdivider violates any of the covenants and agreements herein <br />contained and to be performed by Subdivitier* or fails to pay any <br />installment of any special assessment levied pursuant hereto* or <br />any interest thereon* when the same is to be paid pursuant thereto, <br />the City* at its option* in addition to its rights and remedies <br />hereunder* by written notice given to Subdivider* may declare all <br />of the unpaid special assessments which are then estimated or <br />levied pursuant to this agreement due and payab'e in full* with <br />interest* and all of the unpaid special assessments* with interest* <br />shall be payable on or before the May 31 or October 31* whichever <br />is earlier* next following the giving of such written notice to <br />Subdivider; or the City* at its option* may demand immeLUate <br />payment thereof and immediately commence legal action against <br />Subdivider to collect the enc^ *'-.j balance of the special <br />assessments then estimated or ie .pursuant hereto* with <br />-16-