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Section 7.15 Interpretation. Captions and headings in this Agreement are for <br /> convenience of reference only and shall not affect the meaning or interpretation of any provision <br /> of this Agreement. The Parties have jointly participated in the negotiation and drafting of this <br /> Agreement, and this Agreement shall be construed fairly and equally as to the Parties, without <br /> regard to any rules of construction relating to the Party who drafted a particular provision of this <br /> Agreement. <br /> Section 7.16 Recordation of Development Agreement. Pursuant to California <br /> Government Code § 65868.5, no later than ten (10) days after City enters into this Agreement, <br /> the City Clerk shall record an executed copy of this Agreement in the Official Records of the <br /> County of Alameda. <br /> Section 7.17 No Waiver. No delay or omission by the City or Developer in <br /> exercising any right or power accruing upon the other Party's noncompliance or failure to <br /> perform under the provisions of this Agreement shall impair or be construed to waive any right <br /> or power. A waiver by City or Developer of any of the covenants or conditions to be performed <br /> by the other Party shall not be construed as a waiver of any succeeding breach of the same or <br /> other covenants and conditions. <br /> Section 7.18 Project as a Private Undertaking; No Joint Venture or Partnership. <br /> The Project constitutes private development, neither City nor Developer is acting as the agent of <br /> the other in any respect hereunder, and City and Developer are independent entities with <br /> respect to the terms and conditions of this Agreement. Nothing contained in this Agreement or <br /> in any document executed in connection with this Agreement shall be construed as making City <br /> and Developer joint venturers or partners. <br /> Section 7.19 Time Is of the Essence. Time is of the essence for each provision <br /> of this Agreement for which time is an element. <br /> Section 7.20 Third-Party Beneficiaries. City and Developer hereby renounce <br /> the existence of any third-party beneficiary to this Agreement and agree that nothing contained <br /> herein shall be construed as giving any other person or entity third-party beneficiary status. <br /> Section 7.21 City Business License. Developer, at its expense, shall obtain and <br /> maintain a City of Pleasanton business license at all times during the Term, and shall include a <br /> provision in all general contractor agreements for the Project requiring each such general <br /> contractor to obtain and maintain a City of Pleasanton business license during performance of <br /> the work of construction <br /> Section 7.22 Recitals. The recitals to this Agreement are part of the <br /> Agreement. <br /> IN WITNESS WHEREOF, this Agreement has been entered into by and between <br /> Developer and City as of the day and year first above written. <br /> 25 <br />