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the failure by the Borrower to observe or comply with any provision hereof The City may waive <br /> any Event of Default hereunder. <br /> Section 6.6. Notice of Default. The Borrower shall notify the City immediately if it <br /> becomes aware of the occurrence of any Event of Default hereunder or of any fact, condition or <br /> event which,with the giving of notice or passage of time or both,would become an Event of Default. <br /> ARTICLE VII. <br /> MISCELLANEOUS <br /> Section 7.1. Term of Agreement. This Agreement shall be and remain in full force and <br /> effect from the date of Loan until such time as Loan shall have been fully paid or forgiven, except <br /> for obligations of the Borrower under Sections 5.1 hereof, which shall survive any termination of <br /> this Agreement. <br /> Section 7.2. Notices. All notices, certificates, requests or other communications <br /> hereunder shall be in writing and shall be deemed to be sufficiently given when mailed by registered <br /> or certified mail, postage prepaid, and addressed to the appropriate Notice Address. The Borrower <br /> and the City, by notice given hereunder, may designate any further or different addresses to which <br /> subsequent notices, certificates,requests or other communications shall be sent. <br /> Section 7.3. Extent of Covenants of the City; No Personal Liability. All covenants, <br /> obligations and agreements of the City contained in this Agreement shall be effective to the extent <br /> authorized and permitted by applicable law. No such covenant, obligation or agreement shall be <br /> deemed to be a covenant,obligation or agreement of any present or future member,officer, agent or <br /> employee of the City or the Common Council in other than his or her official capacity, and neither <br /> the members of the Common Council nor any official of the City shall be subject to any personal <br /> liability or accountability by reason of the covenants,obligations or agreements of the City contained <br /> in this Agreement. <br /> Section 7.4. Binding Effect. This Agreement shall inure to the benefit of and shall be <br /> binding in accordance with its terms upon the City, the Borrower and their respective permitted <br /> successors and assigns. This Agreement may be enforced only by the parties, their assignees and <br /> others who may, by law, stand in their respective places. <br /> Section 7.5. Amendments and Supplements. This Agreement may not be effectively <br /> amended,changed,modified,altered or terminated except as may be evidenced in a writing executed <br /> by the appropriate representatives of the City and the Borrower. <br /> Section 7.6. Execution Counterparts. This Agreement may be executed in any number of <br /> counterparts, each of which shall be regarded as an original and all of which shall constitute but one <br /> and the same instrument. <br /> Section 7.7. Severability. If any provision of this Agreement, or any covenant, obligation <br /> or agreement contained herein is determined by a court to be invalid or unenforceable, that <br /> determination shall not affect any other provision,covenant, obligation or agreement,each of which <br /> shall be construed and enforced as if the invalid or unenforceable portion were not contained herein. <br /> 12 <br />