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<br />at its own expense to bury any above-ground utilities that interfere with development of the <br /> <br />road. Tanger shall have no obligation to contribute to the road construction costs. These <br /> <br />covenants shall survive Closing. <br /> <br />11. Each party agrees to bear its own attorney's fees and costs. <br /> <br />12. Upon Closing, counsel jointly will have entered an Agreed Order of Dismissal with prejudice <br /> <br />of the above-referenced proceeding. The form of the order is attached as Exhibit liB" hereto. <br /> <br />13. The parties acknowledge that they have reviewed the terms of this mediated settlement <br /> <br />agreement with counsel, that they enter into this agreement freely and of their own volition, <br /> <br />and that this agreement as evidenced by the parties' signatures below is legally binding and <br /> <br />enforceable, subject to the approval of the San Marcos City Council per paragraph 16 below. <br /> <br />14. The parties agree to execute any and all documents necessary to carry out the terms of this <br /> <br />agreement. <br /> <br />15. Closing will occur on or before 30 days after approval of paragraphs 8, 9 and 10 of this <br /> <br />agreement by the San Marcos City Council. <br /> <br />16. This agreement is subject to the approval of the San Marcos City Council as to paragraphs <br /> <br /> <br />8,9 and 10. If the Council does not approve paragraphs 8, 9 and 10, then this agreement in <br /> <br /> <br />all respects is null and void and of no force and effect. <br /> <br /> <br />17. Counsel for Lowman will prepare an initial draft of the formal settlement agreement for <br /> <br />approval by all counsel of record in the above-referenced proceeding. <br /> <br />18. Release - Lowman and Tanger agree to and will at closing execute a full, complete and <br /> <br />mutual release of all claims that either party has or could assert against the other of any type <br /> <br />whatsoever as ofthe date hereof, save and except the obligations created by this agreement. <br /> <br />Litigate\Lowman\Mediation.Agr <br /> <br />-4- <br /> <br />00102/0 I <br />