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7.02. Entire Agreement. This Agreement merges the prior negotiations and <br />understandings of the Parties hereto and embodies the entire agreement of the Parties. <br />7.03. Written Amendment. This Agreement may be changed or amended only by a <br />written instrument duly executed on behalf of each Party hereto. All Parties to this Agreement <br />understand and recognize that only the City Council of the City has authority to approve a <br />change or amendment to this Agreement on behalf of the City. <br />7.04. Notices. All notices required or permitted hereunder shall be in writing and shall <br />be deemed delivered the earlier of (i) when actually received or, (ii) on the third day following <br />deposit in a United States Postal Service post office or receptacle with proper postage affixed <br />(certified mail, return receipt requested) addressed to the respective other Party at the address <br />prescribed in Section 1.02 of this Agreement, or at such other address as the receiving Party may <br />have theretofore prescribed by notice to the sending Party in accordance with Section 1.02. <br />Notices may also be effective if actual notice of information availability is provided to a Party <br />and the information is made available on a Rail District website. <br />7.05. Non - Waiver. Failure of any Party hereto to insist on the strict performance of any <br />of the agreements herein or to exercise any rights or remedies accruing hereunder upon default or <br />failure of performance shall not be considered a waiver of the right to insist on, and to enforce by <br />any appropriate remedy, strict compliance with any other obligation hereunder or to exercise any <br />right or remedy occurring as a result of any future or failure of performance. <br />7.06. Successors. This Agreement shall bind and benefit the Parties and their legal <br />successors. This Agreement does not create any personal liability on the pail of any trustee, <br />officer, employee, elected official, or agent of a Party to this Agreement. <br />-16- <br />