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9. Time is of the essence of this agreement. <br /> 10. This Agreement shall be binding on the heirs, successors and assigns of the parties <br /> hereto and shall run with the land, subject to the terms of paragraph 11 below. <br />, 11. The term of this agreement is for a period of seven(7) years from the date hereof. <br /> DATED this day of , 1997. <br /> MAYOR <br /> ATTEST: <br /> CITY CLERK <br /> BERNARD McCOOL, OWNER <br /> RUTH ANNA McCOOL, OWNER <br />