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L. Relationship of Parties. The City and Grantor shall not be construed as joint <br />venturers or general partners, and neither shall have the power to bind or obligate <br />the other Party. <br />M. No Third Party Rights. The provisions of this Agreement are intended solely <br />for the benefit of, and may only be enforced by, the parties hereto. None of the <br />rights or obligations of the Parties herein set forth is intended to confer any <br />claim, cause of action, remedy, defense, legal justification, indemnity, <br />contribution claim, set-off, or other right whatsoever upon or for the benefit of <br />any third party, except to the extent provided under the mortgage securing the <br />Grantor Property or any other Grantor owned property within Everett Place. This <br />Agreement does not create any legal duty by any of the Parties, except such <br />duties between them as explicitly stated in the Agreement. <br />N. Exhibits. The exhibits to this Agreement are incorporated into this Agreement. <br />If at time of recording, the Snohomish County Auditor requires adjustments to <br />the exhibits for foimat and readability, the Parties will make such adjustments <br />as necessary for recording without need of formal amendment to this <br />Agreement. <br />O. Effective Date. When duly executed by both the City and Grantor, this <br />Agreement shall be effective as of the date of last signature below (the "Effective <br />Date"). <br />[Signatures on following pages.] <br />Page 10 of 14 <br />