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135341328v1 <br /> <br /> 12 <br /> <br />arising or purportedly arising from the actions or inactions of the Developer (or other persons <br />acting on its behalf or under its direction or control) under this Agreement, or the transactions <br />contemplated hereby or the acquisition, construction, installation, ownership, and operation of <br />the Project; provided, that this indemnification shall not apply to the warranties made or <br />obligations undertaken by the City in this Agreement or to any actions undertaken by the City <br />which are not contemplated by this Agreement but shall, in any event and without regard to any <br />fault on the part of the City, apply to any pecuniary loss or penalty (including interest thereon <br />from the date the loss is incurred or penalty is paid by the City at a rate equal to the Prime Rate) <br />as a result of the Developer operating the Project so that the Tax Increment District does not <br />qualify or ceases to qualify as a "housing district" under Section 469.174, Subdivision 11, of the <br />Act or to violate limitations as to the use of Tax Increments as set forth in Section 469.176, <br />Subdivision 4d. <br />(3) All covenants, stipulations, promises, agreements and obligations of the <br />City contained herein shall be deemed to be the covenants, stipulations, promises, agreements <br />and obligations of the City and not of any governing body member, officer, agent, servant or <br />employee of the City.