Agenda Packets - 2021/02/08 - Laserfiche WebLink

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Contractor's Claims, or any other claims asserted by either Party after the Effective Date shall be tolled and shall not run or expire. Prior to the Termination Date, the Parties hereto promise not to institute any mediation, litigation, arbitration or other dispute resolution proceedings pursuant to Article 17 as to the Owner's Claims and the Contractor's Claims. 3. TERMINATION DATE. The Parties may each terminate this Agreement by giving written notice to the other Party that the tolling provided by this Agreement shall terminate forty-five (45) days from the date of such notice (the "Termination Notice" and "Termination Date"). This Agreement shall expire no later than October 31, 2021, unless terminated, extended, or otherwise agreed to in writing by the Parties. 4. RESERVATION OF RIGHTS. Any of the Owner's Claims, the Contractor's Claims, rights and/or defenses that may exist as of the Effective Date, if any, including but not limited to any defense(s) based on timeliness and/or the running of any applicable statute or period of limitations prior to the Effective Date, shall be preserved and not waived. On the Termination Date, the parties hereto shall have the same rights, remedies and defenses at law and in equity that each of them had on the Effective Date except to the extent such rights, remedies and defenses may be altered by events unrelated to the passage of time. This Agreement shall not act as a waiver of any right otherwise available to any Party under the Construction Contract. 5. NO ADMISSION. This Agreement shall not be interpreted as an admission of liability by any party to any other Party. This Agreement shall not be deemed to be an admission by any Party as to the merit of any of the claims or defenses asserted or which may be asserted. 6. AMENDMENTS. This Agreement may only be amended in writing and signed by both Parties hereto. 3