MODIFICATIONS TO APPLY ONLY WITH RESPECT TO THE OPERATION OF SUCH
SECTION OR SECTIONS IN THE PARTICULAR JURISDICTIONS SO ADJUDICATING ON THE
PARTIES AND UNDER THE CIRCUMSTANCES AS TO WHICH SO ADJUDICATED.
ARTICLE V
MISCELLANEOUS
5.1
NOTICES.
ALL NOTICES OR OTHER COMMUNICATIONS REQUIRED OR
PERMITTED HEREUNDER SHALL BE IN WRITING AND SHALL BE DEEMED GIVEN, DELIVERED AND
RECEIVED:
8
(A)
WHEN DELIVERED, IF DELIVERED PERSONALLY;
(B)
FOUR (4) DAYS AFTER MAILING, WHEN SENT BY REGISTERED OR CERTIFIED
MAIL, RETURN RECEIPT REQUESTED AND POSTAGE PREPAID;
(C)
ONE (1) BUSINESS DAY AFTER DELIVERY TO A PRIVATE COURIER SERVICE,
WHEN DELIVERED TO A PRIVATE COURIER SERVICE PROVIDING DOCUMENTED OVERNIGHT
SERVICE; AND
(D)
ON THE DATE OF DELIVERY IF DELIVERED BY TELECOPY, RECEIPT
CONFIRMED, PROVIDED THAT A CONFIRMATION COPY IS SENT ON THE NEXT BUSINESS DAY BY
FIRST CLASS MAIL, POSTAGE PREPAID, IN EACH CASE ADDRESSED AS FOLLOWS:
To Executive at:
William W. Anderson
916 Concord Circle
Mundelein, IL 60060
To the Company at:
With a copy to:
Inland Real Estate Corporation
David J. Kayner, Esq.
2901 Butterfield Road
General Counsel & Secretary
Oak Brook, IL 60523
Inland Real Estate Corporation
Attention:
Robert D. Parks, President and
2901 Butterfield Road
Chief Executive Officer of IREC
Oak Brook, IL 60523
Any party may change its address for purposes of this paragraph by giving the
other party written notice of the new address in the manner set forth above.
5.2
ENTIRE AGREEMENT, AMENDMENTS, ETC.
THIS AGREEMENT CONTAINS THE
ENTIRE AGREEMENT AND UNDERSTANDING OF THE PARTIES HERETO, AND SUPERSEDES ALL
PRIOR AGREEMENTS AND UNDERSTANDINGS RELATING TO THE SUBJECT MATTER THEREOF.
NO
MODIFICATION, AMENDMENT, WAIVER OR ALTERATION OF THIS AGREEMENT OR ANY PROVISION
OR TERM HEREOF SHALL IN ANY EVENT BE EFFECTIVE UNLESS THE SAME SHALL BE IN
WRITING, EXECUTED BY BOTH PARTIES HERETO, AND ANY WAIVER SO GIVEN SHALL BE
EFFECTIVE ONLY IN THE SPECIFIC INSTANCE AND FOR THE SPECIFIC PURPOSE FOR WHICH
GIVEN.
5.3
BENEFIT.
THIS AGREEMENT SHALL BE BINDING UPON, AND INURE TO THE
BENEFIT OF, AND SHALL BE ENFORCEABLE BY, THE HEIRS, SUCCESSORS AND LEGAL
REPRESENTATIVES OF EXECUTIVE AND THE SUCCESSORS, ASSIGNEES AND TRANSFEREES OF
THE COMPANY OR THE AFFILIATES.
THIS AGREEMENT OR ANY RIGHT OR INTEREST
HEREUNDER MAY NOT BE ASSIGNED BY EXECUTIVE.
5.4
NO WAIVER.
NO FAILURE OR DELAY ON THE PART OF ANY PARTY HERETO IN
EXERCISING ANY RIGHT, POWER OR REMEDY HEREUNDER OR PURSUANT HERETO SHALL OPERATE
AS A WAIVER THEREOF; NOR SHALL ANY SINGLE OR PARTIAL EXERCISE OF ANY SUCH RIGHT,
POWER OR REMEDY PRECLUDE ANY OTHER OR FURTHER EXERCISE THEREOF OR THE EXERCISE
OF ANY OTHER RIGHT, POWER OR REMEDY HEREUNDER OR PURSUANT THERETO.
5.5
SEVERABILITY.
WHEREVER POSSIBLE, EACH PROVISION OF THIS AGREEMENT
SHALL BE INTERPRETED IN SUCH MANNER AS TO BE EFFECTIVE AND VALID UNDER
APPLICABLE LAW BUT, IF ANY PROVISION OF THIS AGREEMENT SHALL BE PROHIBITED BY OR
INVALID UNDER APPLICABLE LAW, SUCH PROVISION SHALL BE INEFFECTIVE TO THE EXTENT
OF SUCH PROHIBITION OR INVALIDITY, WITHOUT INVALIDATING THE REMAINDER OF SUCH
PROVISION OR THE REMAINING