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I Party"), then the Nondefaulting Party shall be entitled to take any and all action, in its 2 reasonable discretion,, to correct such Default and the Defaulting Party agrees to indemnify, save 3 and hold harmless the Nondefaulting Party from and against any and all costs, expenses, claims, 4 or damages incurred by the Nondefaulting Party in so acting. Notwithstanding anything 5 contained herein to the contrary,, nothing in this agreement shall constitute a waiver of the 6 statutory limits on liability set forth in Minnesota Statues Chapter 466 or any waiver of any 7 available immunities or defenses provided to the City by statute or at law. No right or remedy 8 herein conferred upon or reserved to any party hereto is intended to be exclusive of any other 9 right or remedy herein or by law provided, but each shall be cumulative and in addition to every 10 other right or remedy given herein or hereafter existing at law or in equity or by statute. 11 8. Term- Parties in Interest. This Agreement shall be effective and in full force and 12 effect for thirty (30) years from the date hereof, unless sooner terminated pursuant to the next 13 succeeding paragraph, at the end of said thirty (30) year period this Agreement shall 14 automatically be extended for successive ten (10) year periods until or unless the record fee 15 owner of the Property and the City agree in writing and file of record a statement that this 16 Agreement shall not automatically renew at the next expiration date thereof, but rather shall 17 terminate and be of no further force and effect. The terms,, conditions and covenants herein shall 18 run with the owners of the Property and shall be binding upon the successors in interest thereof, 19 as well as the City and its successors. 20 9. Amendment, Modification or Waiver. No amendment,, modification,, waiver or 21 termination of any condition, provision or term of this Agreement shall be valid or of any effect 22 unless made in writing, signed by the record fee owner of the Property and the City and 23 specifying with particularity the extent and nature of such amendment, modification, termination 24 or waiver. Any waiver by any party of any default of another party hereunder shall not affect or 25 impair any right arising from any subsequent default. Nothing herein shall limit the remedies 26 and rights of the parties hereto under and pursuant to this Agreement. 27 10. Headings. The headings of this sections of this Agreement are for convenience of 28 reference only and do not form a part hereof and in no way interpret or construe such paragraphs. 29 11. integration. This Agreement is the entire agreement between the parties with 30 respect to its subject matter and supersedes all prior agreements and understandings between the 31 parties hereto with respect to such subject matter. 32 I. Severability. If any provision of this Agreement is held to be unenforceable or 33 void,, such provision shall be deemed to be severable and shall in no way affect the validity of the 34 remaining terms of this Agreement. 35 K