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<br />6.0 Relationship of Parties. No partnership or joint ventures established between the <br />parties hereto by or under this Agreement or any agreement referenced herein. <br /> <br />7.0 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit <br />of the parties and their respected successors and assigns, including without limitation, <br />any and all future and present owners, tenants, occupants, licensee, mortgagee and <br />any other parties with any interest in the Property. <br /> <br />8.0 Limitation of Liability. Not withstanding in this Agreement to the contrary, the liability <br />of Arden Plaza shall be limited to its ownership of the Property. Upon sale or <br />conveyance of any portion of the Property, the transferee shall be liable for all <br />obligations of Arden Plaza which relates to the portions of the Property so transferred <br />and the transferor shall be automatically released from any further obligation, liability, <br />right or responsibility in respect to such transfer. Moreover, nothing herein shall be <br />construed to create a cause of action on behalf of the City against Arden Plaza with <br />respect to its business operations beyond the obligations set forth herein relating to the <br />development and maintenance of the Property. <br /> <br />9.0 Recording of Document. This Agreement shall run with the Property and shall be <br />recorded in the office of the Ramsey County Recorder or Registrar of Titles with proof <br />thereof shown to the City prior to the issuance of any permits there under. <br /> <br />~o.o Governing Law. The City and Arden Plaza agree that the laws of the State of Minnesota <br />shall govern all questions and interpretations concerning the validity and construction <br />of this Agreement and the legal relations between the undersigned parties and <br />performance under it without regard to principals of conflicts of law. The language of <br />this Agreement is and shall be deemed a result of negotiations among the parties and <br />the respective legal council and shall not be strictly extrude for or against any party. <br />Each party agrees that any action arising out of or in connection with this Agreement <br />shall be brought solely in the courts of the State of Minnesota, Fourth Judicial District, <br />or the United States District Court for the District of Minnesota. <br /> <br />~~.o Event of Default. The occurrence of any of the following shall be considered an "event <br />of default" and the terms and conditions contained in this Agreement <br /> <br />~. Failure of Arden Plaza to comply with any of the terms and conditions contained <br />in this Agreementj and <br /> <br />2. Failure of Arden Plaza to comply with any applicable ordinance or statute with <br />respect to the development of the Property. <br /> <br />~2.0 Remedies. Upon the occurrence of an event of default, the City, in addition to any <br />other remedy which may be available to it, shall be permitted to do any of the <br />following: <br /> <br />7 <br />