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U-431 <br />Section 25. Indemnification. It is understood and <br />agreed that no official, employee or agent of the City or the <br />Agency shall be personally liable to the Participating Owner or to <br />anyone else as to any obligation or obligations under tine terms of <br />this Agreement. The Participating Owner shall save the ^ity, the <br />Agency, and their respective officers and employees, and all <br />parties in privity to them, harmless from all claims, demands, <br />causes of action, expenses, and liability of whatsoever kind or <br />nature which may arise out of, because of, concerning, or incident <br />to the performance of the Participating Owner under this Agreement, <br />including all court actions, costs and expenses and attorney's fees <br />relative to the City and the Agency being a party to this Agreement <br />as may be initiated by the Participating Owner or any third party <br />for any reason whatsoever, including any claims for damages or with <br />respect to personal injuries on the Property. <br />Section 26. Effective Date of This Agreement; <br />Execution; Term of Agreement. This Agreement shall not be <br />effective for any purpose whatsoever or binding and enforceable <br />upon the City or Agency until such time as this Agreement has been <br />approved pursuant to official action of the City and Agency in <br />accordance with a duly adopted and approved City and Agency <br />resolution authorizing the of the City to execute this <br />Agreement on behalf of the City and Executive Director of the <br />Agency to execute this Agreement on behalf of the Agency. This <br />Agreement may be executed in original counterparts, each of which <br />shall be deemed to be an original for all purposes, and such <br />counterparts shall constitute one and the same instrument. This <br />Agreement shall remain in full force and effect until all of the <br />obligations hereunder have been satisfied in full. <br />[END OF THIS PAGE] <br />22 <br />