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SENT 3Y:FA6YaNSKE LAW FIRM ; S -19 -92 10:23AM ; 61222801644 612 635 0299 ;p 3 <br />Rainbow each release the other from any and all claims, <br />counterclaims, demands, charges, suits or actions against the <br />other, for damages, losses, charges, expenses, delays or <br />compensation of whatever nature or kind, based upon or any way <br />arising out of the Project that are known to exist as of the <br />date of this Agreement. <br />3. This Agreement does not relieve Rainbow of any <br />performance obligations under the Contract that still may exist, <br />including but not limited to an upcoming inspection of the <br />Project by the City and any work that may be the responsibility <br />of Rainbow as a result of said inspection. <br />4, This Agreement shall be interpreted and governed <br />by the laws of the State of Minnesota. <br />5. This Release sets forth the entire agreement <br />between the parties hereto and fully supersedes any and all <br />prior agreements or understandings between the parties. <br />6. It is further acknowledged that the signing of <br />this Agreement has not been induced by any representation of the <br />parties released. <br />7. This Agreement represents the compromise and <br />settlement of doubtful and disputed claims and is not an <br />admission of liability by any party, liability being expressly <br />denied. <br />8. Each of the undersigned has read this Agreement, <br />understands it, and signed voluntarily, and with the knowledge <br />and consent of the entity on behalf of which it signs. <br />_2_ <br />Page 3 <br />