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5.02. Conflict of Interest <br />-No member, official or employee of City shall have any <br />personal interest, direct or indirect, in this Agreement nor shall <br />any member, official or employee participate in any decision <br />relating to the Agreement which affects his personal interests or <br />the interests of any corporation, partnership or association in <br />which he is directly or indirectly interested. <br />Developer warrants that he has not paid or given and will not <br />pay or give any third person any money or other consideration for <br />obtaining this Agreement. <br />5.03. Nonliability of City Officials and Employees <br />No member, official or employee or the City shall be <br />personally liable to Developer or any successor in interest, in the <br />event of any default or breach by City or for any amount which may <br />become due to Developer or successor or any obligations under the <br />terms of this Agreement. <br />5.04. Indemnification of City <br />Developer shall hold harmless and indemnify the City, the <br />City, and its officers, agents and employees, from any and all <br />claims, demands, actions, liability or losses which may arise from <br />or be incurred as the result of injury or damage to persons or <br />property in the course of the Project, including but not limited to <br />damage to the Property. <br />5.05. City Loan Liability <br />City shall not be liable or responsible in any manner in the <br />event Developer defaults on the promissory note with -Lender. <br />5.06 Nonliability of City for default of contractors <br />It is understood and agreed that the City shall. have no <br />liability to Developer by reason of the failure to perform or <br />inadequate performance of any contractor retained by Developer for <br />work on the Project. <br />5.07. Inspection of Books and Records <br />City has the right at all reasonable times to inspect the <br />books and records of Developer pertaining to the Property as <br />pertinent to the purposes of this Agreement. Any notices, requests <br />or approvals given under this Agreement from one party to another <br />may be personally delivered or deposited with the United States <br />Page 9 of 10 Pages <br />EXHIBIT I <br />