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intention of the Parties to this Agreement that in lieu of each clause or provision that is found to <br />be illegal, invalid, or unenforceable a provision be added to this Agreement which is legal, valid <br />and enforceability and is a similar in terms as possible to the provision found to be illegal, invalid <br />or unenforceable. <br />Section 15.07. Third Parties. The Parties intend that this Agreement shall not benefit or <br />create any right or cause of action in or on behalf of any third -party beneficiary, or any individual <br />or entity other than the Parties or permitted assignees or successors of the Parties, except that the <br />indemnification and hold harmless obligations by the Developer shall inure to the benefit of the <br />indemnitees named therein. <br />Section 15.08. No Joint Venture. Nothing contained in this Agreement is intended by <br />the Parties to create a partnership or joint venture between the Parties, and any implication to the <br />contrary is hereby expressly disavowed. It is understood and agreed that this Agreement does not <br />create a joint enterprise, nor does it appoint any Party as an agent of another for any purpose <br />whatsoever. Except as otherwise specifically provided herein, no Party shall in any way assume <br />any of the liability of the other for acts of the other or obligations of any other. <br />Section 15.09. Immunity. The City, in entering this Agreement does not waive its <br />immunity from suit or any other limitations on its liability, contractual or otherwise, as granted by <br />the Texas Constitution or applicable laws of the State of Texas. <br />Section 15.10. Recordation and Binding Effect. This Agreement shall be recorded in the <br />official public records of Caldwell County, Texas. The terms of this Agreement shall be covenants <br />running with the land and binding upon the Parties, the Parties' successors and assigns, the <br />Property, and future owners of all or any portion of the Property. <br />28 <br />065611.00495 309237v15 <br />