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ARTICLE VII. <br /> DEFEASANCE <br /> Section 7.1. Defeasance. If the Loan is funded and repayment of the Series 2023 Note <br /> is forgiven pursuant to the terms of this Loan Agreement, then and in that case,all property,rights <br /> and interest hereby conveyed or assigned or pledged shall revert to the Borrower, and the estate, <br /> right, title and interest of the City therein shall thereupon cease, terminate and become void; and <br /> this Loan Agreement,and the covenants of the Borrower contained herein,shall be discharged and <br /> the City in such case on demand of the Borrower and at its cost and expense, shall execute and <br /> deliver to the Borrower a proper instrument or proper instruments acknowledging the satisfaction <br /> and termination of this Loan Agreement, and shall convey, assign and transfer or cause to be <br /> conveyed, assigned or transferred, and shall deliver or cause to be delivered, to the Borrower, all <br /> property, including money,then held by the City together with the Series 2023 Note marked paid <br /> or cancelled. <br /> (End of Article VII) <br /> 16 <br /> 4865-5920-9350.2 <br />