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December 31, shall give a complete written report of all financial activities <br />for such fiscal year to the parties. <br />9. Article IX is amended by adding a new Section 6 to the Agreement to read as <br />follows: <br />Section 6: Liability <br />A. Separate Public Entity. The Authority is a public entity separate <br />from the parties and shall not be deemed by virtue of this Agreement to be <br />an agent or partner of the parties to this Agreement, the Metropolitan <br />Council, the Minnesota Department of Transportation, or any grantee, nor <br />shall the parties be liable for the actions of the Authority, the Metropolitan <br />Council, the Minnesota Department of Transportation or any grantee. <br />B. Responsibility for Own Acts and Omissions. Each party agrees that <br />it will be responsible for its own acts and omissions, the acts and <br />omissions of its commissioners, officers and employees and any liability <br />resulting there from to the extent authorized by law. No party shall be <br />responsible for the acts of the other parties and the results thereof. Each <br />party acknowledges and agrees that it is insured orself-insured consistent <br />with the limits established in Minnesota State Statute. Each party agrees <br />to promptly notify all parties if it becomes aware of any potential Authority <br />related claim(s) or facts giving rise to such claims. <br />C. No Waiver. Notwithstanding the foregoing, the terms of this <br />Agreement are not to be construed as, nor operate as, waivers of a party's <br />statutory or common law immunities or limitations on liability, including, but <br />not limited to, Minn. Stat. Chap. 466. Further, the party's obligations set <br />forth in this Article and otherwise in this Agreement, are expressly limited <br />bYthe provisions of Minn. Stat. Chap. 466, Minn. Stat. ~ 471.59, and any. <br />other applicable law or regulation providing limitations, defenses or <br />immunities to the parties and to the Authority. <br />10. This Amendment No. 2 may be executed in two or more counterparts, each of <br />which shall be deemed an original, but all of which shall constitute one and the <br />same instrument. <br />11. The terms and conditions set forth in the Agreement, as previously amended, <br />shall continue in full force and effect, except as modified herein, and shall apply <br />to this Amendment No. 2 as if fully set forth herein. <br />IN WITNESS WHEREOF, the parties to this Amendment No. 2 to the Joint <br />Powers Agreement Establishing the Northstar Corridor Development Authority have <br />hereunto set their hands on the date written below: <br />6 <br />