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<br />{ <br /> <br />i <br /> <br />f <br />, <br /> <br />i <br /> <br />SECTION 12. SURVIVAL AND NON~WAIVER <br /> <br />All agreements, representations, and warranties contained herein or made in <br />writing by or on behalf of the City in connection with the transactions contemplated hereby shall <br />survive the termination, execution and delivery of this Agreement and/or the repayment of any <br />First Mortgage Loan granted by the Participating Bank. The failure of either the City or the <br />Participating Bank to enforce at any time any of the provisions of this Agreement, or to exercise <br />any right which is herein provided, or to require at any time performance by the other party of <br />any of the provisions hereof, shall in no way be construed to be a waiver of such provisions, <br />nor in any way affect the validity of this Agreement, or any part thereof, or the right of either <br />party to enforce each and every provision. <br /> <br />SECTION 13. SEVERABILITY <br /> <br />If anyone of Sections 2, 3, 6, 7, 8 or 9 herein is invalidated, in whole or in part, <br />by an action of the Consortium or the City, by a judgment, by a court order or regulatory <br />directive, then the obligations of the Participating Bank contained herein shall terminate. The <br />invalidation of any other provision by judgment or court order, shall in no way affect any other <br />provisions herein contained, unless determined to be invalid by the Participating Bank's <br />regulators. <br /> <br />SECTION 14. APPLICABLE LAW <br /> <br />This Agreement shall be governed by the laws of the State of Ohio and the Rules <br />and Regulations of the Participating Bank's regulators. <br /> <br />SECTION 15. ASSIGNABILITY <br /> <br />This document shall not be assignable by any party to this Agreement without the <br />prior written consent of all other parties to this Agreement. Notwithstanding anything herein <br />to the contrary, the Participating Bank may sell or assign the First Mortgage Loan to any third <br />party . <br /> <br />SECTION 16. CAPTIONS <br /> <br />The captions contained herein are inserted for convenience only and shall not be. <br />relied upon in construing the effect or meaning of any of the text hereof. <br /> <br />(Balance of page left blank intentionally) <br /> <br />11 <br />