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expenses. This provision shall be a license granted by the Developer to <br /> the city to act, but shall not require the city to take any such action. <br /> Developer consents to such action by City and waives any claim <br /> Developer may have against City for damages in the event city exercises <br /> its rights in accordance with this provision. This remedy is in addition to <br /> and not in lieu of the City's right to draw on all security referenced in this <br /> Agreement. <br /> E. Terminate this Agreement by written notice to Developer at which time all <br /> terms and conditions as contained herein shall be of no further force and <br /> effect and all obligations of the parties as imposed hereunder shall be null <br /> and void. <br /> F. Draw upon and utilize Developer funds and/or security in order to cover <br /> the costs of the city in order to correct the Event of Default. <br /> XXVI. Miscellaneous. <br /> A. This Agreement shall be binding upon the parties, their heirs, successors, <br /> or assigns, as the case may be. <br /> B. If any portion, section, subsection, sentence, clause, paragraph, or phrase <br /> of this Agreement is for any reason held invalid, such decision shall not <br /> affect the validity of the remaining portions of this Agreement. <br /> C. The action or inaction of the City shall not constitute a waiver or <br /> amendment to the provisions of this Agreement. To be binding, <br /> amendments or waivers shall be in writing, signed by the parties, and <br /> approved by written resolution of the City Council. The City's failure to <br /> promptly take legal action to enforce this Agreement shall not be a waiver <br /> or release. <br /> D. This Agreement shall run with the Property and shall be binding upon the <br /> Developer, it successors and assigns. The Developer may, at its <br /> expense, record this Agreement in the office of the County Recorder. <br /> After the Developer has completed the work required under this <br /> Agreement, at the Developer's request the City will execute and deliver to <br /> Developer a release in recordable form. <br /> E. All parties to this Agreement acknowledge they have been represented by <br /> counsel and have entered into this Agreement freely and voluntarily. <br /> F. Planning Commission and City Council Conditions of Approval. All <br /> conditions of approval by the Planning Commission and City Council are <br /> incorporated herein by reference. <br /> 14 <br />