R2006-77 AUTHORIZING REDEVLOPMENT AGREEMENT Olde Towne Redevelopment

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acquiring interests in or possession of real estate caused by the parties who are contractually obligated to convey and grant to the Developer, for which the Developer shall have a day for day extension for any deadlines hereunder, if such event is claimed in writing delivered within ten (10)days of the occurrence of the event giving rise thereto. 9. ASSIGNMENT The rights and obligations of Developer under this Agreement shall be assignable, in whole and not in part,with(i)not less than 20 business days'(or such lesser notice acceptable to the Municipality) written notice by the Developer to the Municipality and (ii) the written approval of such assignment by the Municipality, including on such terms and conditions as the Municipality shall require; provided that no such assignment shall be deemed to release the Developer of its obliga.tions to the Municipality under this Agreement unless the consent of the Municipality to the release of the Developer's obligations is first obtained. 10. PREPAYMENTS The Municipality absolutely reserves the right, prior to the expiration of the term of this Agreement and to the extent lawful, in its sole discretion, to prepay all or any part of its obligations under this Agreement or any Note. 11. WAIVER Any party to this Agreement may elect to waive any remedy it may have hereunder, provided that no such waiver shall be deemed to exist unless the party waiving such right or remedy does so in writing. No such waiver shall obligate such party to waive any other right or remedy hereunder, or shall be deemed to constitute a waiver of other rights and remedies provided pursuant to this Agreement. 12. SEVERABILITY If any section, subsection,terni or provision of this Agreement or the application thereof to any party or circumstance shall, to any extent, be invalid or unenforceable, the remainder of such section, subsection, term or provision of this Agreement or the application of same to parties or circumstances other than those to which it is held invalid or unenforceable, shall not be ai�ected thereby. ', 13. NOTICES �, All notices, demands, requests, consents, approvals or other instruments required I or permitted by this Agreement shall be in writing and shall be executed by the party or an I officer, agent or attomey of the party,and shall be deemed to have been effective as of the date of actual delivery, if delivered personally, or as of the third(3rd)day from and including the date of posting, if mailed by registered or certified mail, return receipt requested, with postage prepaid, � addressed as follows(or to such other address as is provided by notice):