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any nature whatsoever on any portions of Area 1-2 or any other real property owned by Licensor (collectively, the ~Project") other than the Property. Licensees further acknowledge and agree that the performance of the Mitigation Work shall not cause, in any manner, any demolition or destruction of, or any material damage or injury to, any roadways, lagoon slopes, levees, utilities, infrastructure or other improvements on the Property or the Project or any other adjoining real property or real property leading up to the Property except as expressly set forth in and as required by the Mitigation Plan. Licensees acknowledge and agree that Licensor has no responsibility of any nature whatsoever for developing, installing or maintaining any of the Mitigation Work. 2. Term; Termination. The term of this license shall commence, subject to Licensees' prior satisfaction of all of the Conditions Precedent set forth in Section 3 below, on the date of this Agreement, and shall expire on the date which is five (5) years following the date of recordation of the Notice of Completion (as defined in Section 5.1 below) (the ~Termination Date") or for a longer period of time (not to exceed on additional five (5) years beyond the Termination Date) if required by the Corps or any other Governmental Agencies (as defined in Section 3.2 below) having jurisdiction over the Property and the Mitigation Work; provided, however, that Licensor hereby reserves the right to revoke the license granted herein following a material breach or material default by Licensees of this Agreement if Licensees fail to cure such breach or default in accordance with the provisions of Section 6 below. Licensees hereby acknowledge and agree that if this license is terminated by reason of an uncured breach or default by Licensees, then Licensees hereby waive and relinquish any and all legal or equitable rights and remedies available to Licensees under this Agreement or otherwise at law or in equity, resulting from the termination of this Agreement, including, without limitation, any right to reimbursement of any costs or expenses incurred by Licensees or the Licensee Group in performing the Mitigation Work and any matters related thereto. 3. Conditions Precedent to Licensees Undertaking the Mitigation Work. The grant of the license pursuant to Section 1 of this Agreement and Licensees' right to enter upon the Property to perform the Mitigation Work is subject to Licensees first fully satisfying all of the conditions precedent set forth in Sections 3.1 through 3.3 below (collectively, the ~Conditions Precedent") : E:\RE\70140\O62\LICENSE4.WPD 3