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60 • Note is being acquired for investment for such assignee's or transferee's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, (ii) that the assignee or transferee has no present intention of selling, granting any participation in, or otherwise distributing the same, (iii) that the assignee or transferee is an "accredited investor" within the meaning of Rule 501 of the Regulation I) under the Securities Act of 1933, as amended, (iv) that the.assignee or transferee; either alone or with such assignee's or transferee's representatives, has knowledge and experience in financial and business matters and is capable of evaluating the merits and risks of the prospective investment in the Note and the assignee or transferee is able to bear the economic consequences thereof, (v) that in making its decision to acquire the Note, the assignee or transferee has relied upon independent investigations made by the assignee or transferee and, to the extent believed by such assignee or transferee to be appropriate, the assignee's or transferee's representatives, including its own professional, tax and other advisors, and has not relied upon any representation or warranty from the HRA, or any of its officers, employees, agents, affiliates or representatives, with respect to the value of the Note, (vi) that the HRA has not made any warranty, acknowledgment or covenant, in writing or otherwise, to the assignee or transferee regarding the tax consequences, if any, of the acquisition and investment in the Note, (vii) that the assignee or transferee or its representatives have been given a full opportunity to examine all documents and to ask questions of, and to receive answers from, the HRA and its representatives concerning the terms of the Note and such other information as the assignee or transferee desires in order to evaluate the acquisition of and investment in the Note, and all such questions have been answered to the full satisfaction of the assignee or transferee, (viii) that the assignee or transferee has evaluated the merits and risks of investment in the Note and has determined that the Note is a suitable investment for the assignee or transferee in light of such party's overall financial condition and prospects, (ix) that the Note will be characterized as "restricted securities" under the federal securities laws because the Note is being acquired in a transaction not involving a public offering and that under such laws and applicable regulations such securities may not be resold without registration under the Securities Act of 1933, as amended,except in certain limited circumstances, and (x) that no market for this Note exists and no market for the Note is intended to be developed. Notwithstanding the foregoing, the Redeveloper may assign and pledge the Note to secure any loan financing the costs of the Project and may transfer the Note to (i) any entity controlling, controlled by or under common control with the Redeveloper or(ii) any entity in which the majority equity interest is owned by the parties that have a majority equity interest in the Redeveloper. ARTICLE 7 Prohibitions Against Assignment and Transfer Section 7.1 Transfer of Property and Assignment. -Redeveloper has not made and will not make, or suffer to be made, any total or partial sale, assignment, conveyance, lease (other than leases of space in the Improvements constructed as a part of the Project or a mortgage securing financing for the Project), or other transfer, with respect to this Agreement or the Redevelopment • -12-