12-06-1995 Council Agenda - Laserfiche WebLink

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of Ramsey County, Minnesota or in the United States District Court, District of Minnesota, Fourth Division. 9.11 No waiver by the EDA of any Default or Event of Default hereunder shall operate as a waiver of any other Default or Event of Default or the same Default or Event of Default on a future occasion. No failure or delay on the part of the EDA in exercising any right or remedy hereunder and no course of dealing between the Developer and the EDA shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy preclude other or future exercise thereof or the exercise of any other right or remedy. 9.12 The rights and remedies hereby specified are cumulative and are not exclusive of any rights or remedies which the EDA would otherwise have. 9.13 This is not a third party beneficiary contract and nothing herein, express or implied, is intended to or shall be construed to confer upon or to give any Person, other than the parties hereto, any right, remedy or claim under or by reason of this Agreement. The covenants, stipulations and agreements contained herein are and shall be for the sole and exclusive benefit of the parties hereto, their respective successors and permitted assigns. 304291.2 9.14 Any provision of this Agreement which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. 9.15 The headings and captions in this Agreement are included for convenience only and shall not constitute a part of this Agreement for any other purpose. Whenever the context requires or permits, the singular shall include the plural and the plural shall include the singular and the masculine, feminine and neuter shall be freely interchangeable. 9.16 This Agreement may not be amended except in a writing signed by all parties hereto. 9.17 Nothing contained in this Agreement shall be interpreted or construed as creating a joint venture, partnership or other business relationship (other than a debtor /creditor relationship) between Developer and the EDA, it being the intention of Developer and the EDA that the relationship created hereby is that of debtor /creditor. Developer acknowledges and agrees the EDA is a creditor of Developer in all respects hereunder and under any of the other Loan Documents and has all rights and remedies available to it as a creditor. 9.18 It is expressly understood and agreed that the EDA assumes no liability or responsibility for the sufficiency of the Loan proceeds to complete the Project, for the accuracy of the Sworn Construction Cost Statements, for the satisfactory Page 24