12-7-2020 BOC Regular Meeting - Laserfiche WebLink

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Section 7. Miscellaneous. (a)This Agreement shall be binding upon and benefit Lender and all of the parties hereto, their heirs, successors and assigns and all of those holding title under any of them, and the pronouns herein shall include,where appropriate, either gender or both, singular or plural. The Lender's successors and assigns shall include,without limitation,any party or parties that succeed to the Lender's interest in the Real Property by virtue of a foreclosure of the Deed of Trust, power of sale under the Deed of Trust, or by virtue of a conveyance in lieu of a foreclosure or other transfer of the Real Property. (b)No indulgence,waiver, election or non-election by the Lender under the Loan Documents shall affect this Agreement. (c)The parties hereby agree that this Agreement shall not be modified, changed, altered or amended in any way except through written amendments signed by Lender and all of the parties hereto. (d) It is agreed that the laws of the State of North Carolina shall govern the construction and interpretation of this Agreement and the rights and obligations set forth herein. (e)The invalidity or unenforceability of any portion of this Agreement shall not affect the remaining provisions and portions hereof. (f) This Agreement may be executed in any number of counterparts and by different parties on separate counterparts,each of which,when executed and delivered, are an original, and all taken together, are one agreement. (g) Delivery of an executed counterpart of this Agreement by facsimile,portable document format(.pdf)or other electronic means of transmission shall be equally effective as delivery of an original executed counterpart. (g) The terms and provisions of this Agreement shall terminate upon the irrevocable repayment of the Loan in full and the cancellation of record of the Deed of Trust,unless the same is earlier terminated by a termination agreement executed by the Lender and delivered to the Developer and the Municipality. (SIGNATURES ON THE FOLLOWING PAGE) 4 WBD(US)50085467