R2010-208 AUTHORIZING REDEVELOPMENT AGREEMENT

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� I +y� . ',1� Ap instrument now or hei•eafter executed, oi• ai law ol• in ec�uity (including, withoui �U limiiation, any right af reimbursement oi• contribution pui•suani to CL;RCLA), � and shall noi in any way be deemed a waiver of any such rights. The provisions � �� of this Section 16 and the obligations contained herein shall survive the Ua Closing, � � �t �e 18. T�RM OF THE AGREEM�NT �; � � This Agreement shall automatically e�:pire with no further action being required � by Municipality upon the expiration of the Redevelopment Plan and the TIF District (adopted by the Municipality) and the receipt of the tax increment. The Redevelopment Plan shall have the ma�imum term permitted by law ai the time of its adoption or any extension permitted by law hereafier. If the Redevelopment Plan is scheduled to terminate prior to payment of all Eligible Project Costs, the Municipality agrees to take all steps necessary to eatend the term of the Redevelopment Plan for a time period sufficient io allow repayment of all Eligible Project Costs to the Developer and the term of this Agreement shall be extended for a corresponding period of time as allowed under the Act. 19. INTERPRETATION Wherever possible, each provision hereof shall be interpreted in such manner as to be effective and valid under applicable law, but in case any one or more of the provisions contained herein shall, for any reason, be held to be invalid, illegal, or unenforceable in any respect, such provision shall be ineffective to the extent, but only to the extent, of such invalidity, illegality, or unenforceable provision or provisions or any other provisions hereof, unless such a construction would be unreasonable. 20. COUNTERPARTS This Agreement may be executed in one or more counterparts, each of which shall be considered an original instrument, but all of which shall be considered one and the same Agreement, and shall become binding when one or more counterparts have been signed by each of the parties hereto and delivered to each of the parties hereto. 21. GOVERNING LAW This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois. 22. CONSTRUCTION The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to e�press their mutual intent, and no rule of strict construction will be applied against either party, regardless of which is the drafter. 23. HEADINGS All headings contained in this Agr•eement are for convenience of reference only and shall not be interpreted to expand or limit any pi•ovision hereof. 24. AUTHORITY Each of the above said parties represents and warrants that each of - 22 -