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8.25 Execution of this Agreemen� Following execution of three (3) counterpart <br /> originals of this Agreement by the authorized representative(s) of the Developer and prompt <br /> ' delivery of such executed documents to the City this Agreement shall be subject to review and <br /> approval by the City governing body, in its sole and absolute discretion, no later than forty-five <br /> (45) calendar days after the date of such delivery to the City. If the City governing body has not <br /> approved this Agreement within the time period specified in the immediately preceding sentence, <br /> then no provision of this Agreement shall be of any force or effect for any purpose and any prior <br /> execution or approval of this Agreement by either Party shall be null and void. <br /> 8.26 Time Declared to be of the Essence. As to the performance of any obligation <br /> under this Agreement of which time is a component, the performance of such obligation within <br /> the time specif'ied is of the essence. <br /> 8.27 No Waiver. Failure to insist on any one occasion upon strict compliance with <br /> any term, covenant, condition, restriction or agreement contained in this Agreement shall not be <br /> deemed a waiver of such term, covenant, or condition, restriction or agreement, nor shall any <br /> waiver or relinquishment of any rights or powers under this Agreement at any one time or more <br /> times,be deemed a waiver or relinquishment of such right or power at any other time or times. <br /> ' [Signatares on following page] <br /> �s <br /> 2013.118/BLOCK 2 HUNTER STORM <br /> REV:07-26-13 PT <br />