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Baok : 3758 Page : 119 <br /> 17. TERM OF THE AGREEMENT <br /> This Agreement shall expire upon the expiration of the Redevelopment Plan and the TIF <br /> District (adopted by the Municipality) and the receipt of the tax increment. The <br /> Redevelopment Plan shall have the maximum term permitted by law at the time of its <br /> adoption or any extension permitted by law hereafter. If the Redevelopment Plan is <br /> scheduled to terminate prior to payment of all Eligible Project Costs, the Municipality <br /> agrees to take all steps necessary to extend the term of the Redevelopment Plan for a ti�ne <br /> period sufficient to allow repayment of all Eligible Project Costs to the Developer and the <br /> term of this Agreement shall be extended for a corresponding period of time as allowed <br /> under the Act. <br /> 18. Wherever possible, each provision hereof shall be interpreted in such manner as to be <br /> effective and valid under applicable law, but in case any one ar more of the provisions <br /> contained herein shall, for any reason, be held to be invalid, illegal, or unenforceable in <br /> any respect, such provision shall be ineffective to the extent, but only to the extent, of <br /> such invalidity, illegality, or unenforceable provision or provisions or any other <br /> provisions hereof, unless such a construction would be unreasonable. <br /> 19. This Agreement may be executed in one or more counterparts, each of which shall be <br /> considered an original instrument, but all of which shall be considered one and the same <br /> Agreement, and shall become binding when one or more counterparts have been signed <br /> by each of the parties hereto and delivered to each of the parties hereto. <br /> 20. This Agreement shall be governed by and construed in accordance with the laws of the <br /> State of Illinois. <br /> 21. The language used in this Agreement shall be deemed to be the language chosen by the <br /> parties hereto to express their mutual intent, and no rule of strict construction will be <br /> applied against either party, regardless of which is the drafter. <br /> 22. All headings contained in this Agreement are for convenience of reference only and shall <br /> not be interpreted to expand or limit any provision hereof. <br /> 23. Each of the above said parties represents and warrants that each of the above said parties <br /> has the right and legal authority to execute this Agreement. Each of the above said <br /> parties further acknowledges and represents to one another that the representatives who <br /> execute this Agreement have the authority under the law to execute this Agreement and <br /> to bind their respective principals to the obligations under this Agreement and further, <br /> that any legal requirements conferring authority upon the representatives who execute <br /> this Agreement have been met by each of the respective parties as required by law. <br /> RDLLC 20060926 v I 21 <br />