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1 7. BindinQ Effect_ The terms and provisions hereof shall be binding upon and inure to the benefit of the heirs, representatives, successors and assigns of the parties hereto and shall be binding deemed covenants n,nning with the land. References herein to Property Owner, if there be more than one, shall mean each and all of them. This ab eement shall be executed by the Property Ov��ner and City and shall be placed of record so as to give notice hereof to subsequent purchasers and encumbrancers of all or any part of the property, and all recording fees, if any, shall be paid by the Property O��ner. 8. Notices: Whenever in this agreement, it shall be required or permitted that notice or demand be given or served by either party to this agreement to or on the other party, such notice or demand shall be delivered personally or mailed by United States certified mail (return receipt requested) to the addresses set forth below. Such notice or demand shall be deemed timely given when delivered personally or when deposited in the mail in accordance �vith tne above. Notice to Citv Notice to Pro�ertv Owner City of Orono "7^Nc M AS IZ� fbv� �'1�'�� ff� ��-��'�'� Clerk/Administrator P.O. Box 66 1'`f 7 3 ��I �G� �� Crystal Bay, MN 55323 \ C��o N� �i,��y z ft-%f+ l l'1'!i�N .SS-3�1 9. Disclaimer bv Citv: It is understood and agreed that the City, the City Council, and the agents and employees of the City shall not be personally liable or responsible in any manner to the Property Owner or the Property Owner's contractors, subcontractors, materialmen, laborers, or any other person, firm or corporation, for any debt, claim, demand, damages, actions, or causes of action of any kind or character, arising out of or by reason of the execution of this agreement or the performance and complerion of the Septic Improvements. 10. Hold Harmless and Indemnification: The Property Owner shall indemnify and hold harmless the City, the City Council, and the agents and employees of the City from and against all claims, damages, iosses o: expenses, inc:udir,g attorne� fees, wr.icl-: tihe Cit-y�, �ity Coun�il and agents and employees of the City may suffer or for which it may be held liable, arising out of or resulting from the assertion against them of any claims, debts or obligations in consequence of the performance of this agreement by the Properry Owner, its employees, agents or subcontractors, whether or not caused in part b�� a party indemnified hereunder. 1 l. Remedv for Default: Default by the Property Owner of any of the terms of this agreement shall automatically result in the suspension or withholding of all permits, licenses, occupancy certificates or other authorizations issued by the City in connection with the Property, and may, at City's sole discretion, give rise to a draw upon the performance deposit by City to remedy such default. Inirials of Property Owner 1�"� IU�C- Initials of City Clerk Paee 4 of 6