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City is not responsible to pay the Bank for any collection efforts that the Bank <br /> takes. <br /> <br />8. This Agreement shall be governed by the laws of the State of Minnesota and <br /> shall be finding upon and inure to the benefit of the parties and their respective <br /> successors and assigns. This Agreement may be executed in counterparts, each of <br /> which shall constitute an original hereof and all of which shall constitute one and <br /> the same instrument. Neither Debtor nor any other person, except the actual <br /> parties hereto and their successors and assigns, shall be entitled to rely on, have <br /> the benefit of, or enforce any provision of this Agreement. <br /> <br />9. The term "Event of Termination" means the earliest of the following events: (I) <br /> occurrence of an event of default under the Loan Documents; (ii) demand for <br /> payment of any indebtedness outstanding under the Loan Documents; (iii) <br /> commencement of foreclosure of any collateral securing the Indebtedness under <br /> the Loan Documents. <br /> <br />IN WITNESS WHEREOF, the parties have executed this Agreement as of the day <br /> <br />first above written. <br /> <br />By <br /> <br />Its <br /> <br />Participating Bank <br /> <br />By <br /> <br />City of Roseville <br /> <br /> Its Mayor <br /> <br />By <br /> <br />Its City Manager <br /> <br /> <br />