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CiTY OF ORONO � b124730510 01/10/97 11 :52 � :Ob/08 N0:786 <br /> lmprovements. The term of the letter of cr�dii shall be a period of oi�e year. City shall <br /> return tlle letter of credit t<� Praperty Owiler upon acceptancc of the Septic Improvemerits. <br /> 6. Bindin� Effect: The terms and provisions hereaf shail be bindin� upon and inure to the <br /> benef t of the heirs, representatives, successors and assigns uf the �arties hereto and sha1J <br /> be binding deemed covinanis runnin� with the land. References herein to Property t3wner, <br /> if there b� more than one, shal] mean each and all of them. This agreement shall be <br /> executed by the Property Uwner a�id C'ity and shall be placed c�f record so as to give notice <br /> herc�f to subsequent purchascrs and encumbrancers of all or a.t1y part Uf the property, and <br /> all rec:�rdin� i'ee5, if' any, shall be paid by the Property Owner. <br /> 7. Notices: Whei�ever in this a�reement, it shall be required or permitted that nc�tic� or <br /> demand be given �r servecl by either p�rty to this agreer��ent to c�r c�n ihe other party, sueh <br /> notice or demand shal] be delivered perqonally c�r mailed by United States certified rriail <br /> (return receipt requested� to the address�s �et fortli helow. Such notice c�r demand shall bc <br /> deemed timely given when delivered personally or wl�en deposited in #he rnai) in accordance <br /> with lhe above. <br /> �yot��c� to Citv Natice to �'ropertv Owner <br /> City c�f Urono C �c,.s.�C�� �s�n � Sus,a�� b.,�i�� <br /> Clerk/�dministratar <br /> P.O. Aax 66 3a,s ��B►�. 2�. �,_. <br /> Crystal Day, MN 55323 <br /> , l..:�.�GN. ss35�— <br /> R. j��5claimer hv City,;, It is understoc�d t�nd abreed that the C:ity, the City Council, and ihe <br /> agents t�nd employees af thc Ciry shall not be personally liable or responsible in any matmer <br /> to the Property Owner or the �'roperty Ov.�r.er's contractors, subcontracl�rs, materialmen, <br /> laborers, or aiiy other person, firm ur corporation, far any debt, claim, demand, dFunages, <br /> uctic�ns, or causes of aetion of any kind or character, arising �}ut of or by rcason c�f the <br /> execution of' this a�;ement or the performance �t�d campletion o1' thi Septic Improvement�. <br /> 9. I-iold IIArmiess and I emnificati�n: The Property Uw�ner shall indeiYmify and hold h�rmless <br /> the City, the City Council, and t��e a�ents and employees oi' the Cily from and against all <br /> ciaims, da�nages, loss�s o�• expenses, including xtturney fees, which the City. City C.ounci! <br /> and agents and em�lc�yees of the City may suffer or for which it may be held liable, arising <br /> aut of� nr resulting iiom #he assertion abuinst them of any claims, debts or obli�atiuns ii� <br /> consequ�ne� of` the perti�rmance of this abreement by the Propetty (�wner, its employees, <br /> agents or subcontractors, whether or nnt caused in pari by a party indertuiilied hereunder. <br /> Initiats of Property �wner <br /> Initials of City Clerk <br /> Page 3 of 5 <br />