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building permit fees to be assessed for improvements to the Development shall be in an amount not <br /> to exceed Fifty Thousand Dollars ($50,000). If McLeod fails to file the Petition for Annexation, <br /> McLeod will be liable and responsible to pay the entire amount of the permit fees for Development <br /> including those waived by City in reliance on this Agreement. <br /> Section 6. The provisions of this Agreement shall supersede the provisions of any ordinance, <br /> code or regulation of the City which may be in conflict with the provisions of this Agreement. <br /> Section 7. If any provision of this Agreement is held invalid, the remainder hereof shall not <br /> be affected thereby. <br /> Section 8. This Agreement shall bind the heirs,successors,and assigns of the City and McLeod <br /> and shall inure to the benefit of the parties hereto,their successors and assigns,provided that McLeod <br /> shall have no right to assign this Agreement except in connection with conveyances of all or any <br /> portion of this Subject Property. <br /> Section 9. Nothing herein shall in any way prevent the alienation, encumbrance or sale of the <br /> Subject Property or any portion thereof and the new owner or owners shall be both benefitted and <br /> bound by the conditions and restrictions herein expressed. Within thirty(30)days after the execution <br /> hereof,the text of this Agreement(or a suitable memorandum thereof)shall be recorded in the Office <br /> of the Recorder of Macon County, Illinois; and a certified copy of the Ordinance adopting this <br /> Agreement shall be filed with the Macon County Clerk. <br /> Section 10. Any party to this Agreement,either in law or in equity,by suit,action,mandamus, <br /> or other proceeding may enforce or compel the performance of this Agreement or have other such <br /> relief for the breach thereof as may be authorized by law or which by law or in equity is available to <br /> them. <br /> Section 11. It is understood by the parties that time is of the essence of this Agreement. It is <br /> further understood that upon the occurrence of a default of any of the provisions of this Agreement, <br /> which default continues for thirty (30) days after a notice specifying such default is given to the <br /> defaulting party, the non-defaulting party may by mandamus or other proceeding, including specific <br /> performance, enforce or compel the performance of this Agreement by such defaulting party. <br /> 3 <br />