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• ' • • 4:33064 <br /> Itox 0586 rasa 193 <br /> VII - <br /> INDEPENDENT RELATIONSHIP OF PARTIES <br /> The Parties hereby agree that, notwithstanding the provisions <br /> contained in this Agreement, nothing herein contained shall be <br /> construed as creating a fiduciary or other duty between the <br /> Parties which would hamper or preclude TNC from contesting any <br /> applications or other proceedings of P&M, including those with <br /> respect to its Retained Water Rights or any other water rights <br /> activities of P&M which TNC may deem injurious to its goals. In <br /> like manner, P&M shall have full freedom and right, except for the <br /> restrictive covenant set forth in Section III of this Agreement, <br /> to institute, pursue or support any applications or proceedings <br /> with respect to development, trade or exchange of its Retained <br /> Water Rights or any other water rights or activities in which P&M <br /> may be interested, whether or not such rights, applications or <br /> proceedings may be deemed by TNC to be in its best interests. <br /> VIII <br /> MISCELLANEOUS <br /> 8.1 This Agreement shall be binding upon and inure to the <br /> benefit of the Parties hereto and their respective successors and <br /> assigns. The provisions of this Agreement shall survive the <br /> execution and delivery of the attached quitclaim deed. <br /> -10- <br /> H7f rii1RRi <br />