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10 <br /> University and Orange County shall be binding upon any assignee, <br /> its heirs, successors and assigns. . <br /> 14. This option agreement shall be binding and shall inure <br /> to the benefit of the parties, their heirs, successors and <br /> assigns. <br /> 15 . Duke University and Orange County agree that a <br /> memorandum of this option agreement, in form satisfactory to <br /> Orange County, shall be executed and may be recorded in the <br /> Orange County Registry. Alternatively, and at the election of <br /> Orange County, this option agreement may be recorded in the <br /> Orange County Registry. <br /> 16 . Any provision contained in this agreement which by its <br /> nature and effect, if required to be observed, kept or performed <br /> after closing shall survive the closing and shall remain binding <br /> upon and for the benefit of the parties hereto until fully <br /> observed, kept or performed. <br /> 17 . Orange County, upon exercise of the Option set forth in <br /> this agreement shall inform Duke University of a closing date, <br /> closing to occur at a place designated by the closing attorney <br /> for Orange County. <br /> 18. This option contains the entire agreement of the <br /> parties and there are no representations, inducements or other <br /> provisions other than those expressed in writing. Any changes, <br /> additions or deletions hereto must be in writing and signed by <br /> all parties. <br /> IN WITNESS WHEREOF, Duke University has caused this <br /> instrument to be signed its President or an Executive Vice <br /> 7 <br />