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-204-- <br /> <br />18. Proof of Authority. When the DEVELOPER is a corporation, the CiTY requires proof <br /> of authorit?' by the corporation to execute this Agreement, This proof of ttuthority could <br /> be satisfied by providing the CITY with a cmlified copy of minutes of the corporate <br /> Board of Directors granting such authority. <br /> <br /> [9. lnvalidit'v of Any One Section. If any portion, section, Ck}:~:iection, sentence, clause, <br /> paragraph or phase of this A~eement is for any reason held~::;i~ be invalid by a conrt of <br /> compete~t, jurisdiction, such decision shall not effbct or~V~i~ any of the other provisions <br /> <br /> 90 Reeordin~ of Development Agreement..;'~T~ DEVELOPER. am'ees that this <br /> Develonment /Sm'cement s tall be recorded.,:fit~2he office of the An0~aftCountv Recorder <br /> and agrees that the terms and provisions of.~ik Agreement shall be a co~ant on any and <br /> all deeds relative to the property ineluded'f~:~the Plat. <br /> <br /> 21. Violntion ol t ~ s Aoreeme ~t Fhe DEVELOPeR:agrees that the terms of the financial <br /> guarantee shall be deemed to l~9~':been v o atec :iS'the DEVELOPLR fails to perform <br /> any of the terms of this Agreen/:~iS/ i~i::t~&:manner r~:~Ulred by the C!T~ ~n~ the CITY <br /> shall be entitled to recover from :tile DEVE[JOPER &~:ihe, issuer of DEVELOPERS' <br /> letter of credit, the full: amonnt o f di~ ietter og~:~;~} ;~:;::.~" <br /> <br /> 99 A,,reement Bi~i~i'~i~()n ~h:s etc. ;[7~'DE~LOPER a~n'ees that this Development <br /> Agreement s~mil be binding~0n their sd¢~ssors and assigns. Breach ofar~y of the terms <br /> of this Devd3'¢)nent Agre4:;i~nt by the ~LOPER shall be grounds ibr denial of <br /> <br /> IN WITNESS [ IIEREO~ ~ the pat tins have hereunto set their hands and seals, this <br />day of ~:::~: , <br /> <br />OAKWOOD LAND DF, VELOPMENT, INC. <br /> <br />CITY OF 1L4~MoEY: <br /> <br />By: By: <br /> <br />Its: Its: Mayor <br /> <br /> ATTEST: <br />River Pines 6th Addition <br />Development Agreement <br /> May 19~ 2006 <br /> 5.of 6 <br /> <br /> <br />