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Initials of Authorized Initials of Authorized <br />Representative of City Representative of Developer <br />(b) THE PARTIES EACH ACKNOWLEDGE AND AGREE THAT THE <br />CITY WOULD NOT HAVE ENTERED INTO THIS AGREEMENT, IF EITHER WERE TO <br />BE LIABLE TO THE DEVELOPER FOR ANY MONETARY DAMAGES, MONETARY <br />RECOVERY OR ANY REMEDY OTHER THAN TERMINATION OF THIS AGREEMENT <br />AND PAYMENT OF THE LIQUIDATED DAMAGES AMOUNT, ACCORDINGLY, THE <br />PARTIES AGREE THAT THE DEVELOPER'S SOLE AND EXCLUSIVE RIGHT AND <br />REMEDY UPON THE BREACH OF THIS AGREEMENT BY THE CITY IS TO <br />TERMINATE THIS AGREEMENT AND RECEIVE THE LIQUIDATED DAMAGES <br />AMOUNT. <br />(c) THE DEVELOPER ACKNOWLEDGES THAT IT IS AWARE OF THE <br />MEANING AND LEGAL EFFECT OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH <br />PROVIDES: <br />A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS <br />WHICH TIIE CREDITOR DOES NOT KNOW OR SUSPECT <br />TO EXIST N HIS OR HER FAVOR AT THE TIME OF <br />EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM <br />OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR <br />IIER SETTLEMENT WITH THE DEBTOR. <br />(d) CALIFORNIA CIVIL CODE SECTION 1542 NOTWITHSTANDING, <br />IT IS THE INTENTION OF THE DEVELOPER TO BE BOUND BY THE LIMITATION ON <br />DAMAGES, RECOVERY AND REMEDIES SET FORTH N THIS SECTION 12, AND THE <br />DEVELOPER HEREBY RELEASES ANY AND ALL CLAIMS AGAINST THE CITY FOR <br />MONETARY DAMAGES, MONETARY RECOVERY OR OTHER LEGAL OR EQUITABLE <br />RELIEF RELATED TO ANY BREACH OF THIS AGREEMENT, EXCEPT RECEIPT OF <br />THE LIQUIDATED DAMAGES AMOUNT, WHETHER OR NOT ANY SUCH RELEASED <br />CLAIMS WERE KNOWN OR UNKNOWN TO THE DEVELOPER AS OF THE EFFECTIVE <br />DATE OF THIS AGREEMENT, THE DEVELOPER SPECIFICALLY WAIVES THE <br />BENEFITS OF CALIFORNIA CIVIL CODE SECTION 1542 AND ALL OTHER STATUTES <br />AND JUDICIAL DECISIONS (WHETHER STATE OR FEDERAL) OF SIMILAR EFFECT <br />WITH REGARD TO THE LIMITATIONS ON DAMAGES AND REMEDIES AND <br />WAIVERS OF ANY SUCH DAMAGES AND REMEDIES CONTAINED N THIS SECTION <br />12. <br />(6) NOTWITHSTANDING ANYTHING N THIS AGREEMENT TO THE <br />CONTRARY, N THE EVENT OF A BREACH BY DEVELOPER, DEVELOPER SHALL <br />NOT BE LIABLE OR RESPONSIBLE TO CITY FOR ANY LOST OR FOREGONE TAX <br />REVENUES, ECONOMIC OR COMMUNITY BENEFITS, FEES, CHARGES, OR ANY <br />OTHER AMOUNT. THE PARTIES ACKNOWLEDGE THAT IT IS EXTREMELY <br />-8- <br />75A -12 <br />