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3.16 Parties Not Co-Venturers. <br /> Nothing in this Agreement is intended to or does establish the Parties as partners, co-venturers, or <br /> principal and agent with one another. <br /> 3.17 Warranties. <br /> The Agency expresses no warranty or representation to the Developer as to fitness or condition of <br /> the Property which is the subject of this Agreement for the building or construction to be conducted <br /> thereon, except as follows: Agency has made no untrue statements or representations in connection with <br /> this Agreement, and all items transferred to Developer on or before Closing shall have been and be true, <br /> correct and complete copies of what they purport to be. Agency has not failed to state or disclose any <br /> material fact in connection with the transaction contemplated by this Agreement Agency knows of no <br /> facts, nor has Agency failed to disclose any fact, which would prevent Developer from using and operating <br /> the Property after Closing in the manner in which it is intended to be operated by Developer. <br /> 3.18 Time is of the Essence. <br /> In all matters under this Agreement, the Parties agree that time is of the essence. <br /> 3.19 Complete Understanding of the Parties. <br /> This Agreement consists of the text of the Agreement and the attached Exhibits and constitutes the <br /> entire understanding and agreement of the Parties. <br /> 3.20 Good Faith. <br /> The Parties recognize that it is impractical in this Agreement to provide for every contingency <br /> which may arise during the life of the Agreement, and the Parties hereby agree that it is their intention that <br /> this Agreement shall operate fairly between them and without detriment to the interests of either of them, <br /> and that, if during the term of this Agreement either Party believes that this Agreement is operating unfairly, <br /> the Parties will use their best efforts to agree on such action as may be necessary to remove the cause or <br /> causes of such unfairness. <br /> 3.21 Joint and Several Liability. <br /> Michael Brooks, an individual, Leonard Bruno, an individual, and John Thomas Pereira, an <br /> individual, are jointly and severally liable for the rights and responsibilities of Developer in this Agreement <br /> WHEREFORE, the Parties have executed this Agreement in triplicate on or as of the date first <br /> above written. <br /> Disposition and Development Page 22 of 23 <br /> Agreement <br /> SI% <br />