75D - PH- MAIN PLACE TRANSFORMATION

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default of the other party, shall not constitute a waiver of such party's right to insist and demand strict compliance by the. other party with the terms of this Agreement thereafter. 9.10. No Third -Party Beneficiaries, This Agreement is made and entered into for the sole protection and benefit of the parties and their successors and assigns. No other person shall have any right of action based upon any provision of this Agreement. 9.11 Horoe Maieure. Neither party shall be deemed to be in default where failure or delay in per founance of any of its obligations under this Agreement is caused by: (1) strikes, lookouts or labor disputes; (2) inability to obtain labor or materials or reasonable substitutes therefor; (3) inclement weather which delays or precludes construction; (4) acts of God, including but not limited to earthquakes, or the public enemy or civil commotion; (5) condemnation, (6) ,fire or other casualty; (7) shortage of fuel, electricity or natural gas; (g) action or nonaction of public utilities or of local, state or federal governments, affecting the work, including, but not limited to, any delays in the permitting process as a result of the action or inaction or such governmental authorities; (9) eriutinal acts or acts of terrorism; or (t(3) other conelieioas similar to those enumerated above which are beyond the reasonable anticipation or control Of Such Party, or other causes beyond the Party's reasonable control. If any such events shall occur, the tern of this Agreement and the time for performance shall be extended for the duration of each such event , provided that the Term of this Agreement shall not be extended pursuant to this section for more than five (5) years. 9.12. Mutual Covenants. The covenants contained herein are mutual covenants and also constitute conditions to the concurrent or subsequent performance by the party benefited thereby of the covenants to be performed hereunder by such benefited party. 9.13. Successors in Interest. The burdens of this Agreement shall be binding upon, and the benefits of this Agreement shalt inure to, all successors in interest to the Parties to this Agreement. All provisions of this Agreement shall be enforceable as equitable servitudes and constitute covenants running with the land. Each covenant to do or refrain from doing some act hereunder with regard to development of the Property: (a) is for the benefit of and is a burden upon every portion of the Property; (b) tuns with the Property and each portion thereof; and (c) is binding upon each party and each successor in interest during ownership of the Property or any portion thereof. 9.14, Counterpane, This Agreement may be executed by the parties in counterparts, which counterparts shall be construed together and have the same effect as if all of the parties had executed the same instrument. 9,15 Jurisdiction and Venue. Any action at law or in equity arising under this Agreement or brought by a party hereto for the purpose or enforcing, construing or determining the validity of any provision of this Agreement shall be tiled and tried in the Superior Court of the County of Orange, State of California, and the parties hereto waive all provisions of law providing for the filing, removal or change of venue to any other court. 9.16 Project as a Private Undertaking. It is specifically understood and agreed by and between the parties hereto that the development of the Project is a private development, that neither party is acting as the agent of the other in any respect hereunder, and that each party is an independent contracting entity with respect to the terms, covenants and conditions contained in this Agreement. No partnershitt, joint venture or other association of anv kind Is formed by 5VU 75D-684