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Section 7.07 Prohibition Against Assigns <br />Borrower shall remain primarily liable for all obligations, terms, conditi <br />Borrower shall not assign, delegate, or transfer any or all of its rights or obligal <br />without obtaining the prior written approval of the City, which permission sal <br />provided, however, that if the City approves such assignment or transfer, then <br />assignees shall be bound by the terms and conditions of the Agreement, together <br />Secured Promissory Note of even date and attached hereto as Exhibit Vand Exh <br />this reference as if fully rewritten. <br />lations <br />is .and covenants stated herein. <br />tns under the Loan Documents <br />not be unreasonably withheld; <br />3orrower and/or the permitted <br />ih the Open -.End Mortgage and <br />it . and made a part hereof by <br />Al -cable federal law"arld regulations <br />and use of the Funds. <br />tor, shall comply with all applicable <br />relations, administrative rulings, and <br />In the event that any proWisions of the Loan Docents or the application thereof is declared null and void, <br />invalid, or illegal, or is held 'or any reason to be unenforceable by a court of competent jurisdiction, the remainder <br />of each of the Loan Docutents shall rema in full force and effect and shall not be in any way affected, impaired, <br />or invalidated by thoseroviiop . All covenants, conditions, and'agreements contained in the Loan Documents are <br />deemed and agreed to be separate. <br />"I"'. <br />Section 7.11 TO' " ,.of Agreem <br />This Loan Aareernent shall remain in full force and effect until the satisfaction or cancellation of the Note. <br />(Signatures on following page) <br />Page 13 of 14 <br />