1991 AGN FEB 05 I11 - Laserfiche WebLink

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91-119289 result of a foreclosure or deed in lieu of foreclosure and any lender acquiring the Property, or any portion thereof, as a result of foreclosure or a deed in lieu of foreclosure shall take such Property, subject to the rights and obligations of Developer under this Agreement; provided, however, in no event shall such lender be liable for any defaults or monetary obligations of Developer arising prior to its acquisition of title to the Property. 11. General Provisions. 11.1 No breach of any provision of this Agreement shall entitle any party to cancel, rescind or otherwise terminate this Agreement or the easement created hereby, but this limitation shall not affect in any manner any other rights or remedies which a party may have by reason of any such breach. 11.2 Each and every covenant and restriction set forth in this Agreement is for the mutual benefit of Developer and City shall run with the land of the Property and the Easement Area and shall apply to and bind the respective successors in interest of Developer and City. 11.3 This Agreement shall become effective and binding upon the parties and their respective successors in interest upon the recordation of this Agreement in the Official Records of the County of San Bernardino, State of California. 11.4 None of the terms or provisions of this Agreement shall be deemed to create a partnership between the parties in their respective businesses or otherwise, nor shall it cause them to be considered joint venturers or members of any joint enterprise. 11.5 If any terms, provisions, conditions or covenants in this Agreement, or the application thereof.to any party or circumstances, shall to any extent be held invalid or unenforceable, the remainder of this Agreement, or the application of such terms, provisions, conditions or covenants to persons or circumstances other than those as to whom or which it is held invalid or unenforceable, shall not be affected thereby and each term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 11.6 This Agreement and any dispute arising hereunder shall be governed and interpreted in accordance with the laws of the State of California. 11.7 Time is of the essence regarding each provision of this Agreement of which time is an element. 11.8 Each party covenants to take such further actions and execute all documents that may be necessary to achieve the purposes and objectives of this Agreement. AJF/20130/1H3Z0022.WP0 -5- 12/26/90