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Memorandum of Agreement <br /> Page 5 of 6 <br /> If to Applicant: JSK Development, Inc./Southhold, LLC <br /> 47 North Dixieway <br /> South Bend, IN 46637 <br /> Attn: AJ Patel <br /> If to the City: City of South Bend, Indiana <br /> 27 West Jefferson Blvd. Suite 14005 <br /> South Bend, Indiana 46601 <br /> Attn: Brock Zeeb,Department of <br /> Community Investment <br /> 14. Assignment and Transfer Prohibited. This Agreement shall be binding upon and <br /> inure to the benefit of the City and the Applicant and their successors and assigns, except that no <br /> party may assign or transfer its rights or obligations under this Agreement without the prior <br /> written consent of the other party hereto, in which consent shall not be unreasonably withheld. <br /> 15. Valid and Binding Agreement. This Agreement may be executed in any number <br /> of counterparts, each of which shall be deemed to be an original as against any party whose <br /> signature appears thereon, and all of which shall together constitute one and the same instrument. <br /> By executing this Agreement, each person so executing affirms that he has been duly authorized <br /> to execute this Agreement on behalf of such party and that this Agreement constitutes a valid and <br /> binding obligation of the party. <br /> 16. Severability. The provisions of this Agreement and of each section or other <br /> subdivision herein are independent of and separable from each other, and no provision shall be <br /> affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other <br /> or others of them may be invalid or unenforceable in whole or in part unless this Agreement is <br /> rendered totally unenforceable thereby. <br /> 17. No Personal Liability. No official, director, officer, employee or agent of the City <br /> shall be charged personally by the Applicant, its employees or agents with any liabilities or <br /> expenses of defense or be held personally liable to the Applicant under any term or provision of <br /> this Agreement or because of the execution by such party of this Agreement or because of any <br /> default by such party hereunder. <br /> [Remainder of page intentionally blank.] <br />