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<br /> <br /> <br /> - 16 - <br />ARTICLE VII. <br />IMMUNITY <br />Extent of Covenants of City; No Personal Liability. No recourse shall be had for the <br />payment of the principal of or interest on any of the Bonds or for any claim based thereon or upon <br />any obligation, covenant or agreement contained in the Bonds, the Indenture, the Development <br />Agreement or this Agreement against any past, present or future member, director, officer, agent, <br />attorney or employee of the City, or any incorporator, member, director, officer, employee, agent, <br />attorney or trustee of any successor thereto, as such, either directly or through the City or any <br />successor thereto, under any rule of law or equity, statute or constitution or by the enforcement of <br />any assessment or penalty or otherwise, and all such liability of any such incorporator, member, <br />director, officer, employee, agent, attorney or trustee as such is hereby expressly waived and <br />released as a condition of and consideration for the execution of the Indenture and this Agreement <br />(and any other agreement entered into by the City with respect thereto) and the issuance of the <br />Bonds. <br /> <br />Liability of City. Any and all obligations of the City under this Agreement are special, <br />limited obligations of the City, payable solely out of the TIF Revenues, the IDD Revenues, the <br />Taxpayer Direct Payments and any Loan Payments made hereunder and as otherwise provided <br />under the Indenture. The obligations of the City hereunder shall not be deemed to constitute an <br />indebtedness or an obligation of the City, the State or any political subdivision or taxing authority <br />thereof within the purview of any constitution limitation or provision, or a pledge of the faith and <br />credit or a charge against the credit or general taxing powers, if any, of the City, the State or any <br />political subdivision or taxing authority thereof. <br />(End of Article VII) <br />