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<br /> running with the land and shall inure to the benefit of and be binding uponthe Owners and their
<br /> i
<br /> ,osp e,ectiv successors and assigns. Compliance by FIRC with the terms and provisions of this
<br /> sliall be the responsibility of the then record Owner(s) of the property encumbered by
<br /> 'fic--reby granted.
<br /> thc Access, Utility and Ditch Ewsernents, ed.
<br /> 8. Estrtp el Cpgj -:jcatqs gr
<br /> ,. Each owner aees, upon written request from the other
<br /> _j
<br /> Owner, to provide to such requesting party or its first mortgagee, potential mortgagee or
<br /> successor, within. 20 days following such request, an estoppel certificate stating to the best of
<br /> issuer's lalowledae as of such date that ('11) there is no default by the requesting party under this
<br /> of such default; and (ii) whether this
<br /> the nature o
<br /> Agreement or that if there is to specif
<br /> A trec.--n.ent is in full force and effect. An Owners failure to deliver such certificate in the tirne
<br /> rfm�ided shall be conclusive upon such Owner that (a) there is no default 'Linder this AgTCCMcn-t,
<br /> p
<br /> ,nd (I b) the Agreement is in full force and effect.
<br /> G. Sevembility. In the event any clause, sentence or any portion of the terms,
<br /> .1 --------
<br /> corKlitions, covenants and provisions of this Agreement are deemed illegal, null or void for any
<br /> reason, or are held by any court of competent jurisdiction to be so, the remaining portions of this
<br /> shall remain in fall force and effect.
<br /> io. Priority The easements granted herein shall be prior and senior to
<br /> this s. security
<br /> Her interests and other terms and provisions of those certain Deeds of Trust,
<br /> � lilt
<br /> Assiz- tints of Rents and Security Agreements dated of even date herewith executed by HRC in
<br /> fa security for loans made on the date hereof from JV in favor of HRC in the
<br /> favQr of JV as secur.
<br /> amounts of $1,500,000.00 and $6,000,000.00, respectively. JV represents and warrants that it
<br /> owns the Retainage Parcel subject to no liens or encumbrances-prior to this Agreement.
<br /> l ? Canticgis for Convenience, All headings and captions used herein are for conve-
<br /> tterpretation or effect of this Agreement.
<br /> ani.
<br /> only an'C, are of no me ng in the in
<br /> 12. Exhibits, All exhibits to this Agreement are incorporated herein and made a part
<br /> i
<br /> --co as if fully I set forth herein.
<br /> U.Liy
<br /> 13. - arbitration or other proceedings are
<br /> 3. Attorneys' Fees, If any legal action or any arbitr, L�
<br /> br(.-)-a-j-1t for the enforcement of this Agreement, or because of an alleged dispute, breach, default
<br /> : present atit , connection with aT.iy of the provisions of this Agreement, the, successful
<br /> ton in
<br /> (111, Prevailing party, whether by final judo-nent, or out-of-court settlement, shall recover fi-om the
<br /> losing party all costs and expenses incurred therein, including reasonable attorneys' fees, expert
<br /> witness fees, and court costs.
<br /> 14. 'Modifications, This Agreement contains the sole and entire understanding among
<br /> the parties with respect to its subject matter and, except as may otherwise be provided herein,
<br /> r I
<br /> this A g cement shall not niodified or arnerided except by an instrument in writingexecu
<br /> ted by
<br /> C�
<br /> the then Owners of the property encumbered by the Access, 'Utility and/or Ditch Easements
<br /> granted herein or otherwise affected by such amendment.
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<br /> C KRUSE; CLK&REC MONIROSE, CO EASE Is
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