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<br /> 5. Representations. Neither LCRA nor San Marcos is relying upon any <br /> representation made by the other in determining to enter into this Agreement, <br /> but rather has made such determination based on its own analysis of the factual <br /> and legal issues pertaining to the Lawsuit and this Agreement. <br /> 6. No Admission of Liability. Neither LCRA nor San Marcos makes any <br /> admission of liability, and each has entered into this Agreement for the <br /> purposes of compromising and settling its differences and avoiding further <br /> litigation, cost and expense. Each of the statements contained herein are for <br /> settlement purposes only, pursuant to Rule 408, Texas Rules of Civil Evidence. <br /> No statement contained herein is to be construed for any purpose other than <br /> settlement. <br /> 7. Effective Date. This Compromise and Settlement Agreement shall take <br /> effect and be binding on each party as of the date which execution of this <br /> Compromise and Settlement Agreement is made by all parties hereto, <br /> authorized by resolution of the Board of Directors of LCRA and the City Council <br /> of San Marcos. <br /> 8. Waiver. No waiver of any of the terms and conditions of this Compromise <br /> and Settlement Agreement shall be valid unless in writing and signed by all <br /> parties to the Compromise and Settlement Agreement. <br /> 9. Miscellaneous. This Agreement (i) constitutes the entire agreement of <br /> LCRA and San Marcos, and may not be modified or altered in any way except <br /> by a writing signed by the party sought to be bound by any such modification, <br /> (ii) shall be governed by, enforced and construed in accordance with the laws of <br /> the State of Texas and (iii) is performable in Caldwell County, Texas. <br /> 3 <br />