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<br /> 13 <br /> <br />action on account of any default by any party. Consent by any party to any act or omission by <br />another party shall not be construed to be consent to any other subsequent act or omission or to <br />waive the requirement for consent to be obtained in any future or other instance. <br />11.14. Signatures/Counterparts. This Agreement may be executed in two or <br />more counterparts, each of which shall be deemed an original, but all of which together shall <br />constitute one and the same instrument. Any one of such completely executed counterparts shall <br />be sufficient proof of this Agreement. <br />11.15. Date and Delivery of Agreement. Notwithstanding anything to the <br />contrary contained in this Agreement, the parties intend that this Agreement shall be deemed <br />effective, and delivered for all purposes under this Agreement, and for the calculation of any <br />statutory time periods based on the date an agreement between parties is effective, executed, or <br />delivered, as of the Effective Date. <br />11.16. Representation on Authority of Parties. Each person signing this <br />Agreement represents and warrants that he or she is duly authorized and has legal capacity to <br />execute and deliver this Agreement. Each party represents and warrants to the other that the <br />execution and delivery of the Agreement and the performance of such party’s obligations <br />hereunder have been duly authorized and that the Agreement is a valid and legal agreement <br />binding on such party and enforceable in accordance with its terms. <br />11.17. Exchange. The parties, or either of them, shall have the right to secure a <br />trade or exchange of properties of like kind of the parties' respective choices (pursuant to Section <br />1031 of the Internal Revenue Code as amended), as long as the obligations imposed on the other <br />party shall not be greater than the terms and conditions of this Agreement, nor shall such <br />obligations delay the Closing Date beyond that allowed by this Agreement. Nothing in this <br />Section 11.17 shall require either party to take title to any other real property as part of its <br />obligation to cooperate in any such trade or exchange. <br /> <br />[Remainder of page intentionally blank – Signatures on following page] <br /> <br />