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the expiration of all applicable notice and cure periods) shall be an action for specific <br />perfonmance or a termination of this Agreement by such non -defaulting parry's obligations under <br />this Agreement (subject to the terms and provisions of Section 6.3.3), and each party hereto <br />expressly waives any other remedy they might otherwise be entitled to pursue, at law or in equity, <br />against the other, and each party hereto expressly waives any right to sue the other for damages or <br />claim any damages. <br />7.2. Release. <br />7.2.1. Except for specific performance, Owner, for itself, its successors and assignees, <br />hereby releases City, its officers, agents and employees, from any and all claims, demands, <br />actions, or suits of any kind or nature arising out of any liability, known or unknown, present or <br />future, because it entered into this Agreement or because of the terms of this Agreement. Owner <br />hereby acknowledges that it has read and is familiar with the provisions of California Civil Code <br />Section 1542, which is set forth below: <br />"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE <br />CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST <br />IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND <br />THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED <br />HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.." <br />By initialing below, Owner hereby waives the provisions of Section 1542 in connection <br />with the matters that are the subject of the foregoing waivers and releases. <br />Owner's Initials <br />7.2.2. Except for specific performance, City, for itself, its successors and assignees, <br />hereby releases Owner, its officers, agents and employees, from any and all claims, demands, <br />actions, or suits of any kind or nature arising out of any liability, known or unknown, present or <br />future, because it entered into this Agreement or because of the terms of this Agreement. City <br />hereby acknowledges that it has read and is familiar with the provisions of California Civil Code <br />Section 1542, which is set forth below: <br />"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE <br />CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST <br />IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND <br />THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED <br />HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.." <br />By initialing below, City hereby waives the provisions of Section 1542 in connection <br />with the matters that are the subject of the foregoing waivers and releases. <br />City's Initials <br />7.3. Termination or Modification of Agreement for Default of an Owner. City may terminate <br />or modify this Agreement for any failure of Owner to perform any material duty or obligation of <br />Exhibit 4 Ordinance No. NS-3071 <br />