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2.06 Assignment and Binding Effect Upon Successors
<br /> A. Owner hereunder, may assign this Agreement, and the rights and obligations of
<br /> Owner to a subsequent purchaser of all or a portion of the undeveloped property
<br /> within the Property or to an affiliate of the Owner provided that the assignee
<br /> assumes all of the obligations hereunder, without any consent of the City being
<br /> required. Any assignment must be in writing, specifically describe the property in
<br /> question, set forth the assigned rights and obligations and be executed by the
<br /> proposed assignee. A copy of the assignment document must be delivered to the
<br /> City and recorded in the real property records as may be required by applicable
<br /> law. Upon any such assignment, the assignor will be released of any further
<br /> obligations under this Agreement as to the property sold and obligations assigned.
<br /> B. The provisions of this Agreement shall run with the land, will be binding upon, and
<br /> inure to the benefit of the Parties, future owners of the Property, and their
<br /> respective successors and assigns. This Agreement will not, however, be binding
<br /> upon, or create any encumbrance to title as to, any ultimate consumer who
<br /> purchases a fully developed and improved lot within the Property.
<br /> 2.07 Miscellaneous
<br /> A. Force Majeure The term "force majeure" as used herein shall mean and refer to
<br /> Acts of God, strikes, lockouts, or other industrial disturbances, acts of public
<br /> enemies, orders of any kind of the government of the United States, the State of
<br /> Texas or any civil or military authority, insurrections, riots, epidemics, landslides,
<br /> lightning, earthquake, fire, hurricanes, storms, floods,washouts, droughts, arrests,
<br /> restraint of government and people, civildisturbances, explosions, breakage or
<br /> accidents to machinery, pipelines, or canals, or other causes not reasonably within
<br /> the control of the party claiming such inability.
<br /> 1. If, by reason of force majeure, any party hereto shall be rendered wholly or
<br /> partially unable to carry out its obligations under this Agreement, then such
<br /> party shall give written notice of the full particulars of such force majeure to
<br /> the other party within ten (10) days after the occurrence thereof. The
<br /> obligations of the party giving such notice, to the extent effected by the force
<br /> majeure, shall be suspended during the continuance of the inability claimed,
<br /> except as hereinafter provided, and the party shall endeavor to remove or
<br /> overcome such inability with all reasonable dispatch.
<br /> B. Governing Law, Jurisdiction and Venue This Agreement shall be governed by
<br /> and construed in accordance with the laws of the State of Texas, as it applies to
<br /> contracts performed within the State of Texas and without regard to any choice of
<br /> law rules or principles to the contrary. The parties acknowledge that this
<br /> Agreement is performable in Hays County, Texas and hereby submit to the
<br /> jurisdiction of the courts of that County, and hereby agree that any such Court shall
<br /> be a proper forum for the determination of any dispute arising hereunder.
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