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<br />Agreement; (b) Redeveloper and the City and the Authority waive all claims, demands and causes <br />of action against the other parties’ directors, officers, managers, members, employees and agents <br />in any Event of Default, by either party, as the case may be, of any of the terms, covenants and <br />conditions of this Agreement to be performed by either party; and (c) Developer and the City or <br />the Authority, as the case may be, shall look solely to the assets of the other party for the <br />satisfaction of each and every remedy in the Event of Default by any party, as the case may be, of <br />any of the terms, covenants and conditions of this Agreement such exculpation of liability to be <br />absolute and without any exception whatsoever. <br /> Estoppel Certificates. Each party, respectively, agrees that at any time and from <br />time to time within 10 business days after receipt of a written request by the other party, to execute, <br />acknowledge and deliver to such party a statement in writing and in such form ach party, <br />respectively, agrees that at any time and from time to time within 10 business days after receipt of <br />a written request by the other party, to execute, acknowledge and deliver to such party a statement <br />in writing and in such form as will enable it to be recorded in the proper office for the recordation <br />of deeds and other instruments certifying: (a) that this Agreement is unmodified and in full force <br />and effect or, if there have been modifications, that the same are in full force and effect as modified <br />and identifying the modifications; (b) that no party is in default under any provisions of this <br />Agreement or, if there has been a default, the nature of such default; (c) that all work to be <br />performed, under this Agreement or any related agreement has been performed or, if not so <br />performed, specifying the work to be performed; and (d) as to any other matter that the requesting <br />party, a prospective purchaser or assignee or a prospective mortgagee or other lender shall <br />reasonably request. It is intended that any such statement may be relied upon by any person, <br />prospective mortgagee of, or assignee of any mortgage, upon such interest. Any such statement on <br />behalf of the City may be executed by the City Manager without City Council approval and any <br />such statement on behalf of the Authority may be executed by the Executive Director without <br />Authority Board approval. <br /> <br /> <br />23 <br /> <br />