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<br />this exchange for any reason except the other party's default or pursuant to a right to terminate <br />expressly set forth in this Agreement, the other party will elect either to enforce specific performance <br />or to terminate this Agreement. The remedy elected will be the party's exclusive remedy. Ifthe party <br />elects to terminate the Agreement, then neither party will have any further rights or obligations. <br /> <br />8. General Provisions <br /> <br />8.01. Assignment. Neither party may assign any of its duties or obligations under this Agreement <br />without the written consent of the other. <br /> <br />8.02. Choice of Law and Venue. The parties will construe this Agreement under the laws of the State <br />of Texas and will perform all of their obligations in Hays County, Texas. The term "will" is <br />mandatory in this Agreement. <br /> <br />8.03. Binding Agreement. This Agreement will be binding upon the parties and their respective legal <br />representatives, successors, and assigns. <br /> <br />8.04 Severability. If any the provision of this Agreement is held to be invalid or unenforceable by a <br />court of proper jurisdiction, the holding will not affect any other provisions of this Agreement if the <br />Agreement can be given effect without the invalid provision. The parties will construe the Agreement <br />as if the invalid or unenforceable provision had not been contained in this Agreement. <br /> <br />8.05. Only Agreement. This Agreement, once signed, will constitute the only agreement ofthe parties <br />regarding this subject and it supersedes any prior understandings or written instruments signed by <br />representatives of either party. <br /> <br />8.06. Notice in Writing. Any notice required or permitted to be given by one party to the other will <br />be in writing and the same will be deemed to have been served and given if: <br /> <br />1. delivered in person to the respective address specified below; <br /> <br />2. delivered in person at the Closing (if the party is present); <br /> <br />3. placed in the United States Mail to the respective address below, return receipt requested. <br /> <br />The address ofthe City for all purposes under this Agreement and for all notices will be: <br /> <br />City Manager <br />City of San Marcos <br />630 E. Hopkins <br />San Marcos, Texas 78666 <br /> <br />The address of SWT for all purposes under this Agreement and for all notices will be: <br /> <br />Vice President for Finance and Support Services <br />Southwest Texas State University <br />601 University Drive <br /> <br />C:\TEMP\SWT ^ TP Property Exchange.doc <br /> <br />6 <br />