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Department of Law <br />12650 Detroit Avenue <br />Lakewood, Ohio 44107 <br />Attn. Law Director <br />If to the Borrower: <br />Mr. Kevin Thomas & Ms. Ann Thomas <br /><<Mailing Address>> <br />Section 7.04 Survival of Representations and Warranties <br />All agreements, representations, and warranties made by Borrower and City in <br />connection with the Loan or the Loan Documents shall survive the delivery of the Loan <br />Documents and shall continue in full force and effect so long as the Note is outstanding. <br />Section 7.05 Successors and Assignments <br />This Agreement shall be binding upon and shall inure to the benefit of Borrower and the <br />City. When used herein, the terms "Borrower' and "City" shall include any successors and <br />permitted assignees or any entity designated by either party to carry out the obligations of the <br />party regarding the Project. <br />Section 7.06 Counterparts <br />This Agreement may be executed in any number of counterparts, each of which shall be <br />deemed an original, but all of which together shall constitute one and the same instrument. <br />Section 7.07 Prohibition Against Assigns <br />Borrower shall remain primarily liable for all obligations, terms, conditions and <br />covenants stated herein. Borrower shall not assign, delegate, or transfer any or all of its rights <br />or obligations under the Loan Documents without obtaining the prior written approval of the <br />City, which permission shall not be unreasonably withheld; provided, however, that if the City <br />approves such assignment or transfer, then Borrower and /or the permitted assignees shall be <br />bound by the terms and conditions of the Agreement, together with the Open -End Mortgage <br />and Secured Promissory Note of even date and attached as Exhibits B and C. <br />Section 7.08 Compliance with Federal, State and Local Laws and Regulations <br />Borrower and its subsidiaries, if any, shall comply with all applicable federal laws and <br />regulations thereunder, executive orders and circulars, governing the receipt, expenditure, and <br />use of the Funds. <br />Page 16 of 19 <br />