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<br />1. Except by way of security for, and only for the purpose of obtaining financing <br />necessary to enable the Developer to perform its obligations with respect to the <br />construction of the improvements under this Agreement and any other purpose <br />authorized by this Agreement, the Developer (except as so authorized) will not <br />make or create, or suffer to be made or created, any total or partial sale, <br />assignment, conveyance, or transfer in any other mode or form, with respect to <br />this Agreement or any interest therein, or any contract or agreement to do any of <br />the same, without the prior written approval of the City. <br /> <br />2. In the absence of specific written agreement by the City to the contrary, no such <br />transfer or approval by the City shall be deemed to relieve Developer from any of <br />its obligations. In the event that the City approves a substitute Developer and the <br />property is transferred to said substitute, the City agrees to relieve the Developer <br />of liability from performance as described in this Contract. Said substitute shall <br />assume all responsibilities and rights of the Developer under this Contract. <br /> <br />Nothing in paragraphs 1 and 2 of this paragraph J shall be construed to limit or restrict <br />Developer's right of ability to sell lots to builders. <br /> <br />K. MISCELLANEOUS PROVISIONS. <br /> <br />v <br /> <br />1. <br /> <br />Reimbursement of Costs for Defense. The Developer agrees to reimburse the <br />City for all costs incurred by the City in defense of enforcement of this Contract, <br />or any portion thereot: including court costs and reasonable engineering and <br />attorney's fees. <br /> <br />2. <br /> <br />Validity. If any portion, section, subsection, sentence, clause, paragraph, or <br />phrase in this Contract is for any reason held to be invalid by a court of competent <br />jurisdiction, such decision shall not affect or void any of the other provisions of <br />the Development Contract. <br /> <br />Waiver. 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 <br />waivers shall be in writing, signed by the parties, and approved by written <br />resolution of the City Council. The City's failure to promptly take legal action to <br />enforce this Agreement shall not be a waiver or release. <br /> <br />4. <br /> <br />Binding Effect. The terms and provisions hereof shall be binding upon and inure <br />to the benefit of the heirs, representatives, successors, and assigns of the parties <br />hereto and shall be binding upon all future owners of all or any part of the <br />Subdivision and shall be deemed covenants running with the land. <br /> <br />5. <br /> <br />Notice. Whenever in this Contract it shall be required or permitted that notice or <br />demand be given or served by either party to this Contract to or on the other party, <br />such notice or demand shall be delivered personally or mailed by United States <br />mail to the addresses set forth below by certified mail (return receipt requested). <br /> <br />7 <br />