The granting and issuance of any permit, or any renewal thereof, shall in no wise prejudice or interfere with the rights of the board or the district to release water from, or impound or store water in, the reservoir, or to do any other act or acts in the operation, maintenance and regulation of said reservoir; all risks and hazards in respect thereto, as well as any resultant damage therefrom, shall be assumed by the permittee or any person or persons exercising the privileges of the permit, without any recourse to or right of action against the State of New York, the district or said board.