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pursuant hereto, shall be deemed a waiver by the other of any of its rights and remedies <br />hereunder or under the laws of the State of Texas. The enforcement of any right or remedy <br />hereunder by the City, either prior to, simultaneously with, or subsequent to any other action <br />taken hereunder, shall not be deemed an election of remedies. <br />5. Modification. This Agreement may not be modified or amended unless such <br />modification or amendment has been reduced to writing approved by the city council of the City <br />and signed by all of the then-existing owners of the Property or portions thereof, and by the City, <br />and has been recorded in the Official Public Records of Hays County, Texas. <br />6. Binding Effect. The obligations created hereunder shall create mutual benefits and <br />servitudes running with the land. This Agreement shall bind and inure to the benefit of the parties <br />hereto and their respective successors, heirs and assigns. <br />7. Partial Invalidity. If any provision of this Agreement shall be or become invalid, <br />illegal or unenforceable in any respect under any applicable law, the validity, legality and <br />enforceability of the remaining provisions shall not be affected or impaired thereby. <br />[SIGNATURES ON NEXT PAGE] <br />