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<br />108 ORDINANCE NO, NS-2106 <br /> <br />Mortgagee or Purchaser shall have any liability under this <br />Development Agreement except for acts or events which occur <br />while such Mortgagee or Purchaser holds title to the property <br />or portion thereof. <br /> <br />(d) The provisions of this Section 24 are solely <br />for the benefit of Mortgagees and Purchasers and shall not <br />otherwise impair any rights of the City against Developer. <br /> <br />(e) No default or event of default hereunder by <br />Developer shall defeat, impair or render invalid the lien of <br />any deed of trust made in good faith and for value as to the <br />Development or any portion thereof. <br /> <br />(f) The City, by resolution of the City Council, <br />may modify or add to the provisions of this Section 24 at the <br />request of any institutional lender or pension trust providing <br />financing so long as such requested modifications or additions <br />pertain only to the rights of a Mortgagee hereunder and are not <br />otherwise inconsistent with the terms of this Development <br />Agreement. <br /> <br />25. Severability. If any term, provision, <br />condition, or covenant of this Development Agreement, or the <br />application thereof to any party or circumstances, shall to any <br />extent be held invalid or unenforceable, the remainder of the <br />instrument, or the application of such term, provision, <br />condition or covenants or the application of such term, <br />provision, condition or covenant to persons or circumstances <br />other than those as to whom or which it is held invalid' or <br />unenforceable, shall not be affected thereby and each term and <br />provision of this Development Agreement shall be valid and <br />enforceable to the fullest extent permitted by law. <br /> <br />26. Counterparts. <br />been executed in one or more <br />been deemed an original, but <br />the same instrument. <br /> <br />This Development Agreement has <br />counterparts, each of which has <br />all of which constitute one and <br /> <br />27. Estoppel Certificate. Either party may, at any <br />time, and from time to time, deliver written notice to the <br />other party requesting such party to certify in writing that, <br />to the knowledge of the certifying party, (i) this Development <br />Agreement is in full force and effect and a binding obligation <br />of the parties, (ii) this Development Agreement has not been <br />amended or modified either orally or in writing, or, if so <br />amended, identifying the amendments, and (iii) the requesting <br />party is not in default in the performance of its obligations <br />under this Development Agreement, or if in default, to describe <br />therein the nature and amount of any such defaults. A party <br />receiving a request hereunder shall execute and return such <br />certificate within ten (10) days following the receipt thereof. <br /> <br />18 <br /> <br />II <br />