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. . . 4. GENERAL PROVISIONS. 4.1 Property Subject to the Agreement. Until released pursuant to the provisions of Section 8.3 below, no property shall bc relcascd from this Agrecmcnt until Property Owner has fully performed its obligations arising out of the Agreement. 4.2 Duration of Agreement The term ofthis Agreement shall for seven years; provided, however that the Owner may request one two-year extension nom the Executive Director of the Planning and Building Agency, which request shall nol be unreasonably denied. Nothing herein shall be deemed to apply, however, to future discretionary acts related to the Projcct, as sct forth in Exhibit D, which Owner has not obtained as ofthe effective date ofthis Agreement, or changes in the Project proposed by Owner during the term ofthis Agreement inconsistent with the Pre-Existing Approval Entitlements. 4.2.1 Tolling of Agreement During Force Majeure Event. Performance by Owner or the City shall nol be deemed to be in default, and performance and the term of the Development Agreement shall be tolled, where delays or defaults are due to existence of a Force Majcurc. Any such tolling shall extend only for the duration of the cause of the delay. Each party claiming a Force Majeure shall, within thirty (30) of discovery of a elaimed Force Majeure, notify the other party in writing ofthe Force Majeure and its claimed duration. 4.3 Assignment Owner shall have the right to transfer or assign the Property, in whole or in part, to any person, entity (public or private), partnership, joint venture, firm or corporation at any time during the term of this Agreement; provided, however, the rights of Owner under this Agreement may not be transferred or assigned unless the written consent of the Council is first obtained and any transfcr or assignment of the rights under this Agreement shall include in writing the assumption of the duties, obligations, and liabilities arising nom this Agreement if the City grants written consent to transfer the rights. Nor shall the rights ofthe Owner hereunder be subject to assignment by attachment, execution, or proceedings under any provision of the Bankruptcy Act, and any such assignment or transfer shall be wholly void and of no force and effect unless such written consent thereto be obtained from the CounciL Such transfer or assignment shall not relieve Owner of any duty, obligation or liability to City without the consent ofthe City. Owncr may assign it rights, duties and obligations under this Agreement to an entity controlled fifty-one percent (51 %) by Michael F. Harrah without the City's approval, but only upon written notice to the City. During the term of this Agreement, any approved assignee or transferee of the rights under this Agreement shall observe and perform all of the duties and obJigations of Owner containcd in this Agreement as such duties and obligations pertain to the pOJiion of the Property transferred or assigned. Any and all approved successors and assignees of Owncr shall have all of the same rights, benefits, duties, obligations, and liabilities of Owner under this Agreement. If the Property is subdivided, any subdivided parcel may be sold, mortgaged, hypothecated, assigned, or transferred to persons for development by them in accordance with the provisions of this Agrccment. Upon assignment or transfer of the rights of Owner under this Agreement, the obligations of Owner and the transferee or assigncc shall be joint and severaL 4