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each of the parties. Each of the terms of this Agreement are contractual, not a mere recital, and are the result of negotiations among the parties. 9. Entire Agreement: It is understood and agreed that this Agreement embodies the entire agreement between the parties regarding the subject hereof, and there are no written or oral understandings or agreements that are directly or indirectly connected with this document that are not expressly stated herein. 10. Severability: If for any reason any provision of this Agreement is determined to be invalid or unenforceable, the remaining provisions of this Agreement nevertheless shall be construed, performed, and enforced as if the invalidated or unenforceable provision had not been included in the text of this Agreement. 11. Further Assurances: The parties to this Agreement agree to execute such other documents and to take such other action as may be reasonably necessary to further the purposes of this Agreement. The parties represent they have not assigned, transferred, pledged or hypothecated, or purported to assign, transfer, pledge or hypothecate, to any entity or individual any of the claims released herein. 12. Past Attorneys' Fees and Costs: Each party shall bear its own attorneys' fees and costs incurred through the execution of this Agreement. Notwithstanding any other provision contained herein, in the event any party is required to bring an action to enforce the terms of this Agreement, and that party prevails in such an action, the non -prevailing party or parties shall pay the attorneys' fees and costs associated with the prosecution of such an action. 13. Choice of Law: This Agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns, heirs, administrators and legal representatives. This Agreement shall be construed in accordance with the laws of the State of North Carolina without regard to conflict of laws principles. W738 v.1 6 F-3 Page 296