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200905357 The parties hereto hereby acknowledge that the proposed transfer of the State Fair from Lancaster County to Hall County has been authorized by LB 1115 as enacted by the Second Session (20U8) of the (hte Hundredth Legislature of the State of Nebraska ("LB 1115' and that there is currently pending in the District Court of Lancaster County, Nebraska, the case of Roger "rant, et al. vs. The Gity of Grand Island, et al. (Case No. CI4$~964) (the "fending Litigation"); that the City and Fenner Park are parties to the Pending Litigation; that no temporary restraining order, preliminary injunction, permanent injunction or other order restricting action by the City or Fenner Park has been entered or is expected to be entered prior to the time (the "Anticipated Commitment Time's when execution and delivery of this Lease are expected to be required in order for constxuction to be timely completed; that the City's authority to enter into this Lease for the benefit of the citizens of Grand Island, independent of the provisions of LB 1116, is not questioned or challenged in the Pending Litigation; that the Pending Litigation will not likely be fir-ally resolved before the Anticipated Commitment Time; and the parties hereto have determined to proceed with entering into this Lease without respect of the validity of LB 1116 and in order to serve the general governmental, purpose of obtaining a recreational facility for the benefit of the City and its citizens. Each of the parties hereto irrevocably waives any right to claim invalidity or seek other equitable or legal relief based upon the doctrine of commercial frustration. 17. Authorl .Former Park, Wells Fargo and the City each acknowledge and represent that it has the right, power and authority to enter into this Lease and bind itself hereto through the party set forth as signatory for the party below. 18. Indemnifieadon. Nothing in this Lease shall be construed as an indemnification by Fenner Park or the City of the other far liabilities of a party or third persons for property loss ar damage or death or personal injury arising cut of and during the performance of this lease. Any liabilities or claims for property loss or damage or for death ar personal injury by a party or its agents, employees, contractors ar assigns ar by third persons, arising out of and during the performance of this Lease shall be determined according to applicable law including but not limited to the Political Subdivision and State Tort Claims Act. 19. ~ vernin_g Law. Tl-is Lease shall be governed by and construed in accordance with the laws of the State of Nebraska. 2Q. Effectiye_D~te. This Lase has been dated for convenience of reference as shown on the initial page hereof. ATTEST: CITY OF GRAND ISLAND, NEBRASKA By: RaNae Edwards, City Clerk M ornady, Mayor APPROVED AS TO FORM: Dale M. Shotkaski, City Attorney