12-19-2007 Council Agenda - Laserfiche WebLink

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Section 7.7 Section 7.8 The City shall have the right to enforce any retained rights without the approval of the Lender. The obligations of the Borrower running to the City for the purpose of preserving the tax exempt status of the Note or otherwise for the City's benefit under the foregoing Sections shall survive repayment of the Note and interest thereon. Section 7.10 Required Approvals. Consents and approvals required by this Agreement to be obtained from the Borrower, the City or the Lender shall be in writing and shall not be unreasonably withheld or delayed. Section 7.11 Termination Upon Retirement of Note. At any time when no principal balance on the Note remains outstanding, and arrangements satisfactory to the Lender and the City have been made for the discharge of all other accrued liabilities, if any, under this Agreement, this Agreement shall terminate, except as otherwise expressly provided in Section 7.9 or otherwise herein. Section 7.12 Lender's Attorneys' Fees and Costs. The Borrower agrees to pay upon demand all of the Lender's out -of- pocket expenses, including reasonable attorneys' fees, incurred in connection with this Agreement, the Loan or the Note. The Lender may pay someone else to help collect the Loan and to enforce this Agreement, and Borrower will pay that amount. This includes, subject to any limits under applicable law, Lender's attorneys' fees and legal expenses, whether or not there is a lawsuit, including attorneys' fees for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post - judgment collection services. The Borrower also will pay any court costs, in addition to all other sums provided by law. 2110583v4 2''45-