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Section 4.04. Ia�tet'pretatzo�x, �everability. Zf any or�e ar more o��e provisians, sentences, �hrases q�• words o�t�is Agree�nent or any applica�:ion thereo�shatl be he(d or deterznined to �e it�valid, illegal or u��ei7forceable in any respect, the valid�ty, legality a�ad e�afqrceabalaty of the :rexnaining ph�'ases, senteaxces, phrascs ar �vards of this Agreerr�ent and any other appIication ther�o� shall in t�o way be affected or im�aired a��d slZaii rezna'rn i� ft�l! �orce and effeci. Sectinn 4.05. Successars and Assi��ls. Thas Agreea�e�t is bindit�g on and inures to the �enefit of t�e s�cc�ssars a�d assigr�s oithe parties hereta. Section 4.Db. Notices and Demands. �xcept as oiherrvise expressly pravzded i� this Agree�nent, a r�of�ce, dez�a��d ar ai�Zer cp��f�nu��catia�� u�3�er thas Aaree�neni by any party to a�ay oiher pa��tY shai[ be su�'ficieniIy gi�en or delive�•ed if it is dispatched by regist�red or c��i�'ied ar�ail, pastage �repaid, re#urn receip� requested, or delivered perso�lally �o the fallowing ad.dress: The City: City of Woac�l�ury Ci�y �-Iafl 8301 Valley Creek Road Waodb�ry, Mi�anesaia S512S The De�velaper: Mz��nesata School of Business, or at s�rch addxess as eit�er pari� �r�ay, frotn ti�ne tc� time, desig�aate i� wr��i��g arad �'orwaxd to the other pariy. Section 4.07. Arbitra�ian. Any cantroversy nr dispute, of whatever ��ature, be�een the Develo�er a�td the City arising out of tl�is .Elgree�nent sl�all be fnally axad eonctusiveiy se�tled by arbitrafioi� in accoz•dance with the Minnesa�a Ua�ifax•a�ra Arbitrataon Act, Mi��n. S€at. Cha�ter 572, as ara�e��ded. Dete��ninations o��narket r�alue are not, hawever, sub,jeet to arbitratia�l except r�hera t�ae parties have bee�� unable to came to an agreement ther�an under ciz'c�ax�s�ances describect in Sectian 3.07 hereo� All questions as ta tl�e meaE�ing nf this 5ection 4 or as to the ari�itrabiliiy of any dispute shall be resolved by �he arbit�rators, and their decision on such questions shall E�e �z�al a��d bindi�g a�1c3 not suhject to judicial review, except to �he ex�erzt p�°ovided in the Mi�neso#a Unii'orir� Arbitratiarl Act. Sectio�i 4.0$, Ter�nination. The term of tl�is Agree�aerat sliall co�nrr��nce oi� th� e�'�ective date laer�of and shall r�aa�ain i� fi.tll fa�•ce anct effect u�ti� �he e�fective datc t�at the Exe�npt Praperty ceases to be exe�n�t fi•o�n real praperiy taxatio�. Section �.09, Reasonal�ler�ess. The parties agree t�at w[�aere a�ay consent or appro�al is provided for this Agree��ent, eacl� will give reasozaable consideration to all fac�ors a�'�'ecting such conse��t o►- ap�roval a��d suct� consei�t or approvaI will not be ur�reasana�ly with�i��d or d�layed. Sectiot� 4.10. l�ecoz-dation. �ither party h�reto �nay r�cord this Agree�nenf.