Agenda - 12-20-94 - Contract - Laserfiche WebLink

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separately. The exercise of any one remedy shall not be deemed an election of such remedy or preclude the exercise of any other remedy. SECTION 11 . ASSIGNMENT 11. 1 Assignment By the County. The County agrees not to sell, assign, lease, sublease, pledge or otherwise encumber or suffer a lien or encumbrance upon or against any interest in this Contract or the Property (except for the lien and security interest of the Lender therein under this Contract, the Deed of Trust, the Lease, and the Permitted Encumbrances) without the Lender' s prior written consent, which shall not be unreasonably withheld. The County' s interest herein may not be assigned or transferred by operation of law. It is expressly provided, however, that the County' s interest herein may be assigned to the Board of Education, in accordance with the terms of and to the extent set forth in the Agreement; provided, that such assignment shall not release or discharge the County from any obligation under this Contract and the County shall remain primarily obligated to the Lender for performance of this Contract. The County further agrees not to make any change, amendment or modification to the Agreement, or to waive, release or discharge the Board of Education from compliance with any term or condition thereof, except with the prior written consent of the Lender. 11.2 Assignment By the Lender. The Lender may, at any time and from time to time, assign all or any part of its interest in the Property or this Contract, including without limitation, the Lender' s rights to receive the Installment Payments and any additional payments due and to become due hereunder. Any assignment made pursuant to this subsection shall be made in accordance with all applicable federal and state securities and other laws . In addition, any assignment by any party to an entity other than a bank, insurance company, investment company or similar financial institution shall be subject to the prior approval of the North Carolina Local Government Commission. The County agrees that this Contract may become part of a pool of obligations at the Lender' s or its assignee' s option. The Lender or its assignees may assign or reassign either the entire pool or any partial interest herein. Notwithstanding the foregoing, no assignment or reassignment of the Lender' s interest in the Property or this Contract shall be effective unless and until the County shall receive a duplicate original counterpart of the document by which such assignment or reassignment is made disclosing the name and address of each such assignee. The County covenants and agrees with the Lender and each subsequent assignee of the Lender to maintain for the full term of this Contract a written record of each such assignment or reassignment. 14