Laserfiche WebLink
Section 7.07 Prohibition Against Assigns <br />Borrower shall remain primarily liable for all obligations, terms, conditions and covenants stated <br />herein. Borrower shall not assign, delegate, or transfer any or all of its rights or obligations under the Loan <br />Documents without obtaining the prior written approval of the City, which permission shall not be <br />unreasonably withheld; provided, however, that if the City approves such assignment or transfer, then <br />Borrower and/or the permitted assignees shall be bound by the terms and conditions of the Agreement. <br />Section 7.08 Compliance with Federal, State and Local Laws and Regulations <br />Borrower and its subsidiaries, if any, shall comply with all appEcable federal laws and regulations <br />thereunder, executive orders and circulars, governing the receipt, expenditure, and use of the Funds. <br />Borrower agrees that in carrying out the Pro j ect, it, or�.ts cort*tor, shall comply with all applicable <br />housing, building, and public health codes and any laws ordinances, regulations, administrative rulings, <br />and policies of the City pertaining to the Project. <br />Section 7.09 Severability <br />In the event that any provisions of the Loan Documents or, the application' th&e.of is declared null <br />and void, invalid, or illegal, or is held for any reason to be unenforceable by a cb.rt of competent <br />jurisdiction, the remainder of each of the 1r,Qai' T 'ocuments shall emain in full force and effect and shall not <br />be in any way affected, impaired, or inValated by those provisions. All covenants, conditions, and <br />agreements contained in the Loan Documents areed. and agreed to be separate. <br />Section 7.10 Choice <br />This Loan Agra <br />Ohio, and the rights and <br />governed by, the laws of <br />Sectioi <br />the Prc <br />ent shall b& deemed t(oh <br />�gations o f , e parties sh° <br />State of Ohia without re <br />)een executed and delivered within the State of <br />construed and enforced in accordance with, and <br />to principles of conflicts of laws. <br />in full force and effect until the satisfaction or cancellation of <br />(Intentionally Left Blank) <br />Page 12 of 30 <br />