5.0. 6.0. 7.0. EDSR 07-12-1999 - Laserfiche WebLink

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FROM GRAY PLANT MOOTY MOOTY & BENNETT (#3) (FRI) 7. 9' 99 9:42/ST. 9:28/Na 4261218754 P 29 S (b) in the case of the Authority, is addressed to or delivered personally to the Authority at 13065 Orono Parkway, Elk River, Minnesota 55330, or at such other address with respect to either such party as that party may, from time to time, designate in writing and forward to the other as provided in this Section. Section 9.6 No Third-Party Beneficiaries. There shall, as against the Authority, be no third-party beneficiaries to this Agreement More specifically, the Authority enters into this Agreement, and intends that the consummation of the Authority obligations contemplated hereby shall be, for the sole and exclusive benefit of the Redeveloper, and not withstanding the fact that any other "persons" may ultimately participate in or have an interest in the Shopping Center Property or the Business Park Property, or any portion thereof,the Authority does not intend that any party other than the Redeveloper shall have, as alleged third party beneficiary or otherwise, any rights or interest hereunder as against the Authority, and no such other party shall have standing to complain of the Authority's exercise of, or alleged failure to exercise, its rights and obligations,or of the Authority's performance or alleged lack thereof, under this Agreement. Section 9.7 Entire Agreement. This Agreement, the Shopping Center PUD Agreement, the Business Park Developer Agreement and the Shopping Center Developer Agreement represent the entire Agreement among the various respective parties thereof as to the subject matter thereof,and supersede all prior understandings and agreements, whether written or oral,as to that subject matter. • Section 9.8 Modifications. This Agreement may be modified solely through written amendments hereto executed by the Redeveloper and the Authority. Section 9.9 Counterparts. This Agreement may be executed in any number of counterparts,each of which shall constitute one and the same instrument. Section 9.10 Judicial Interpretation. Should any provision of this Agreement require judicial interpretation,the court interpreting or construing the same shall not apply a presumption that the terms hereof shall be more strictly construed against one party by reason of the rule of construction that a document is to be construed more strictly against the party who itself or through its agent or attorney prepared the same, it being agreed that the agents and attorneys of both parties have participated in the preparation hereof. Section 9.11 Law of Governing Period. The Parties agree that this Agreement shall be governed and construed in accordance of the laws of the State of Minnesota. Section 9.12 Time of the Essence. Time should be of the essence in the Agreement. ARTICLE X Termination of Agreement; Expiration Section 10.1 Termination. The Authority may terminate this Agreement as provided • herein, and otherwise this Agreement shall terminate upon the expiration or decertification of the -25-