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and the transferor shall be automatically released from any further obligation, liability, right or responsibility in respect to such transfer. Moreover, nothing herein shall be construed to create a cause of action on behalf of the City against Arden Plaza with respect to its business operations beyond the obligations set forth herein relating to the development and maintenance of the Property. 9.o Recording of Document. This Agreement shall run with the Property and shall be recorded in the office of the Ramsey County Recorder or Registrar of Titles with proof thereof shown to the City prior to the issuance of any permits there under. 10.0 Governing Law. The City and Arden Plaza agree that the laws of the State of Minnesota shall govern all questions and interpretations concerning the validity and construction of this Agreement and the legal relations between the undersigned parties and performance under it without regard to principals of conflicts of law. The language of this Agreement is and shall be deemed a result of negotiations among the parties and the respective legal council and shall not be strictly extrude for or against any party. Each party agrees that any action arising out of or in connection with this Agreement shall be brought solely in the courts of the State of Minnesota, Fourth Judicial District, or the United States District Court for the District of Minnesota. 11.0 Event of Default. The occurrence of any of the following shall be considered an "event of default" and the terms and conditions contained in this Agreement z. Failure of Arden Plaza to comply with any of the terms and conditions contained in this Agreement; and 2. Failure of Arden Plaza to comply with any applicable ordinance or statute with respect to the development of the Property. 12.0 Remedies. Upon the occurrence of an event of default, the City, in addition to any other remedy which may be available to it, shall be permitted to do any of the following: i. City may make advances or take other steps to cure the default, and, where necessary, enter the Property for that purpose. Arden Plaza shall pay all sums so advanced, or expenses incurred by the City, upon demand, with interest from the dates of such advances or expenses at the rate of io% per annum or the maximum amount permitted by law if less than io %. If no action taken by the City pursuant to this section shall be deemed to relieve Arden Plaza from curing any such defaults to the extent that it is not cured by the City or from any other default hereunder. The City shall not be obligated, by virtue of the existence or exercise of this right, to perform any such act or cure any such default. Arden Plaza shall save, indemnify, and hold harmless, including reasonable attorney's fees, the City from liability or other damages which may be incurred as a result of the exercise of the City's rights pursuant to this section. 8