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� �,::� :—� <br />� . _ �. � . . ... —_ __ . .� . .�_ ».- `" _ "" �� ' . <br />_: .....�-- _.. . . :._ --'. ..�a:�. :.... �_ . .. .. . _ _ ..�__ __ _ _ '`--'—` - , <br />ARTICLE IV <br />PROHIBITIONS AGAINST ASSIGNMENT AND TRANSFER; <br />INDENII�IIFICATION <br />Section 4.1. Prohibition Ac�ainst Transfer of Property and <br />Assianment of Aqreement. The Developer represents and agrees that <br />throughout the Term: <br />263418.1 <br />(a) Except only by way of security for the purpose of <br />obtaining financing (or refinancing) necessary to enable the <br />Developer or any successor in interest to the Development <br />Property, or any part thereof, to perform its obligations with <br />respect to the Improvements under this Agreement, and any <br />other purpose authorized by this Agreement, the Developer has <br />not made or created and will not make or create or suffer to <br />be made or created any total or partial sale, assignment, <br />conveyance, or lease, or any trust or power, or any transfer <br />in any other mode or form, of or with respect to the Agreement <br />or the Development Property or any part thereof or any <br />interest therein, or any contract or agreement to do any of <br />the same, without the prior written approval given by the <br />Authority in its sole discretion. <br />(b) The Authority <br />as otherwise provided in <br />such approval that: <br />shall be entitled to require, except <br />the Agreement, as conditions to any <br />(i) Any proposed transferee shall <br />have the qualifications and financial <br />responsibility, in the reasonable judgment of <br />the Authority, necessary and adequate to <br />fulfill the obligations undertaken in this <br />Agreement by the Developer. <br />(ii) Any proposed transferee, by <br />instrument in writing satisfactory to the <br />Authority, shall, for itself and its <br />successors and assigns, and expressly for the <br />benefit of the Authority, have expressly <br />assumed all of the obligations of the <br />Developer under this Agreement and agreed to <br />be subject to all the conditions and <br />restrictions to which the Developer is subject <br />unless the Developer agrees to continue to <br />fulfill those obligations. <br />(iii) There shall be submitted to the <br />Authority for review and prior written <br />4-1 <br />