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26 <br /> <br /> <br /> <br />South Bend Redevelopment Commission <br />c/o Department of Community Investment <br />227 W. Jefferson Blvd., Suite 1400 S. <br />South Bend, IN 46601 <br />Attn: Executive Director <br /> <br />With a copy to: <br /> <br />City of South Bend Department of Law <br />227 W. Jefferson Blvd., Suite 1200 S. <br />South Bend, IN 46601 <br />Attn: Corporation Counsel <br /> <br />If to Developer, to: <br /> <br />REVS DEVELOPMENT LLC <br />56085 Chapel Lane <br />South Bend, IN 46619 <br />Attn: Barbara Turner <br /> <br />12. Severability. If any term, provision, covenant or restriction contained in this Option <br />Agreement that is intended to be binding and enforceable is held by a court of competent <br />jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, <br />covenants and restrictions contained in this agreement shall remain in full force and effect <br />and shall in no way be affected, impaired or invalidated. <br /> <br />13. Waiver. Neither the failure nor any delay on the part of a Party to exercise any right, <br />remedy, power, or privilege under this Agreement shall operate as a waiver thereof, nor <br />shall nay single or partial exercise of any right, remedy, power, or privilege preclude any <br />other or further exercise of the same or of any right, remedy, power, or privilege with <br />respect to any occurrence be construed as a waiver of any such right, remedy, power, or <br />privilege with respect to any other occurrence. No waiver shall be effective unless it is in <br />writing and is signed by the party asserted to have granted such waiver. <br /> <br />14. Authority. Each undersigned person executing and delivering this Agreement on behalf of <br />a Party represents and certifies that he or she is the duly authorized officer or representative <br />of such Party, that he or she has been fully empowered to execute and deliver this <br />Agreement on behalf of such Party, and that all necessary action to execute and deliver this <br />Agreement has been taken by such Party. <br /> <br />15. Time. Time is of the essence of this Agreement. <br /> <br />16. Entire Agreement. The Parties acknowledge that upon final execution of this Option <br />Agreement, all previous statements, proposals, offers and information and any oral <br />statements or understandings are hereby rendered void, null, and of no legal consequence