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13.8. Memorandum. Contemporaneously with the execution of this <br />Development Agreement the Parties will execute and the EDA may thereafter record a <br />Memorandum of this Agreement in the form attached as Exhibit H. The benefits and <br />burdens of the covenants and restrictions set forth in this Agreement run with title to the <br />Development Property and inure to the benefit of and are binding upon the EDA, the <br />Developer and their respective successors and assigns. Upon a termination of this <br />Agreement, in whole or part, both parties agree to execute an appropriate document, in <br />recordable form, acknowledging such termination. Either party may record such <br />document in the appropriate real estate records. <br />13.9. Effective Date. If the Parties execute and deliver this Agreement without <br />completing the blank for the Effective Date in Section 1, the Effective Date is the date on <br />which the last individual to execute this Agreement on behalf of one of the Parties <br />acknowledges his or her signature as evidenced by the acknowledgments appearing <br />beneath the Parties' signature blocks. <br />13.10. Third Party Litigation. Each Party will reasonably cooperate with the <br />other Party with respect to any litigation third parties commence with respect to the <br />Project. <br />13.11. Termination and Survival of Terms. This Agreement terminates as of the <br />Termination Date; provided, however, the EDA's obligations under Section f_ 5.2 _] and <br />the Developer's obligations under Section 9.4 survive the expiration of this Agreement or <br />the termination of this Agreement pursuant to Section 12.3(b) with respect to any event, <br />occurrence or circumstance existing prior to the date of such expiration of termination. <br />13.12. Time is of the Essence. Time is of the essence for all provisions of this <br />Agreement. <br />13.13. Business Subsidy Agreements. As a condition to conveyance of a Parcel <br />from the EDA to the Developer, each Purchase Agreement includes a business subsidy <br />agreement between the EDA and Developer as more fully set forth in each Purchase <br />Agreement. <br />-26- <br />