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187027v7 <br />5. In addition to the remedies and amounts payable as set forth herein, upon <br />the occurrence of an Event of Default, Developer shall pay to the City all reasonable fees and <br />expenses, including reasonable attorney, engineering and consulting fees, incurred by the City as <br />a result of the Event of Default, whether or not a lawsuit or other action is formally taken. <br /> K. Miscellaneous. <br />1. This Agreement shall be executed prior to the issuance of any <br />development permits. <br />2. If any portion, section, subsection, sentence, clause, paragraph, or phrase <br />of this Agreement is for any reason held invalid, such decision shall not affect the validity of the <br />remaining portion of this Agreement. <br /> 3. Except to the extent arising from the negligence or other wrongful act or <br />omission of the City, its employees, agents or contractors, the Developer shall hold the City and its <br />officers, employees, and agents harmless from claims made by itself and third parties for damages <br />sustained or costs incurred resulting from the Project. The Developer shall indemnify the City and <br />its officers, employees, and agents for all costs, damages, or expenses which the City may pay or <br />incur in consequence of such claims, including attorneys' fees. <br /> 4. The Developer shall reimburse the City for reasonable costs incurred in the <br />successful enforcement of this Agreement, including engineering and attorneys' fees. <br /> 5. Third parties shall have no recourse against the City or Developer under this <br />Agreement. <br /> 6. The Developer acknowledges that, during the continuance of an Event of <br />Default hereunder, the City may elect to deny the issuance of building permits in connection with <br />the Project. <br /> 7. This Agreement shall run with the land and may be recorded against the <br />title to the Property. The Developer covenants with the City, its successors and assigns, that the <br />Developer is well seized in fee title of the property and/or has obtained consents to this Agreement, <br />in the form attached hereto, from all parties who have an interest in the Property; that there are no <br />unrecorded interests in the Property; and that the Developer will indemnify and hold the City <br />harmless for any breach of the foregoing covenants. <br /> 8. The action or inaction of the City shall not constitute a waiver or <br />amendment to the provisions of this Agreement. To be binding, amendments or waivers shall be