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7.4 Attorney’s Fees. If any action is instituted by any party to enforce this Agreement <br />or to collect any sums due hereunder or pursuant to this Agreement, the prevailing party <br />in such action shall be entitled to recover its costs and reasonable attorneys’ fees as <br />awarded by the court in that action. <br /> <br />7.5 Severability. If one or more provisions of this Agreement are found invalid, illegal <br />or unenforceable in any respect by a court of competent jurisdiction, the remaining <br />provisions shall not in any way be affected, prejudiced, disturbed or impaired thereby, <br />and all other provisions of this Agreement shall remain in full force and effect. <br /> <br />7.6 Amendments/Entire Agreement. City and Successor Agency reserve the right to <br />amend this Agreement by mutual consent. It is mutually understood and agreed that no <br />amendment, modification, alternation or variation of the terms of this Agreement is valid <br />unless in writing and signed and acknowledged and approved by both Parties. This <br />Agreement constitutes the entire agreement of the Parties and no oral understandings <br />or agreement not incorporated herein shall be binding on either Party. <br /> <br />7.7 Time. Time is of the essence in the performance of the terms and conditions of <br />this Agreement. <br /> <br />7.8 Governing Law. The laws of the State of California govern this Agreement. <br /> <br />7.9 City’s Rights and Consent. No forbearance, failure or delay by City in exercising <br />any right, power, or remedy, nor any single or partial exercise of City or any right or <br />remedy hereunder shall preclude the further exercise of such right, power or remedy. <br />The consent of City to any act or omission by Successor Agency may not be <br />constructed as City consent to any other or subsequent act or omission or as a waiver <br />of the requirement to obtain City consent in any other instance. All of City rights, <br />powers and remedies are cumulative and shall continue in full force and effect until <br />specifically waived in writing by the City. <br /> <br />7.10 Duration/Survival. This Agreement continues in full force and effect unit the Loan <br />is repaid in full. <br /> <br />7.11 Headings. The headings within this Agreement are for the purpose of reference <br />only and do not limit or otherwise affect any of the terms of this Agreement. <br /> <br />7.12 Counterparts, Facsimile Copies. This Agreement may be executed in <br />counterparts, each of which will be deemed an original, but all of which together <br />constitute one and the same agreement. This Agreement is effective upon transmission <br />by any party to the other parties of a fully signed facsimile copy of the Agreement after <br />the formal approval by the governing body of the Successor Agency and the City <br />Council. In case of any conflict, the counterpart maintained by the City Council will be <br />deemed to be determinative. <br /> <br />SIGNATURES ON FOLLOWING PAGE