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mortgagee and any ather parties with anp interest in the Reiling Property or in t-he <br />piats af Lots 1 and 2, Block 1, Arden Village. <br />10.0 �rnitation of Liabilitv. Not withstanding in this Agreement to the cantrary, the <br />liability af Arden Village shall be Iimited to its ownership of Lots 1 and 2, BIack 1, <br />Arden Village and the deveiapment of the Arden Village Praject Upan sale ar <br />conveyance of any portion af Lots 1 and Z, Bloc� 1, Arden Village, the transferee <br />shall lae liabie for aIi ob2igations af Arden Viilage which relate #o Lots 1 and 2, Black <br />2, Arden Viilage and the transferor shall be released from further obligation, <br />IiabiliCy, right or responsibility in respect to such transfer, provzded that the City <br />consents to th� t�ansfer, which cansent shail not be unreasonably vvithheld, and <br />further provided that all financiai sureties remain fuli farce and efFeet. Morec�ver, <br />nathing herefn shall be cc�nstrued to create a cause of action an behalf of the City <br />against Arden tTillage with respect ta its business c�perations �eyand the c�bligatio�s <br />set fvrth herein relating tc� the Arden Village Pro}ect. <br />11.0 Recordin� of Document. This Agreement shall run with the Property and shall he <br />recorded in the office af the Ramsey County Recorder or Registrar of Titles with <br />praof thereof shawn to the City prior ta the issuance af any permits for the Arden <br />Village Project <br />12.0 Governine ,aw. The City and Arden Viilage agree that the laws of the State of <br />Minnesota shaII gavern all questions and interpretafiions concerning the vaIidity and <br />construction of this Agreement and tl�e legal relations between the undersigrted <br />partaes and performance under it withoat regard to principals af eonflicts af iaw. <br />The Ianguage af this Agreement is and shall be deemed a result af negotiatians <br />among Che parties and Che respective Iegal council and sha]I nat be sfirictIy extrude <br />for Qr against any party. Each party agrees that any action arising out af or in <br />connection with this Agreement shaD be broczght solely in the courts af the Sfiate o� <br />Minnesflta, Fourth Judicial District, ar the United States District Caurt far the District <br />af MinnesQta. <br />13.0 Eve�nt of p�fauIt. The occurrence of any of the foIlowing shall be considered an <br />"event of default" and the terms and conditions cQntained in this Agreement <br />1. <br />� <br />FaiIure of Arden Village to camply with any af the terms and conditions <br />contained in this Agreement; and <br />Failure af Arden Vfllage ta camply with any applicable ordinance or statute <br />with respect to tl�e development ofthe Arden Village Project. <br />14.0 Rerne ies. Upon the occurrence of an event af default, the City, in additian t4 any <br />ather remedy which may be available ta it, shaA be permitted to da any of the <br />following; <br />1. City rnay make advances or take other steps to eure the default, and, where <br />necessary, enter the Property For that purpose. Arden VilIage shall pay al] <br />� <br />� <br />� <br />; <br />� <br />