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'-IfF - Page 7 of 8. 4.10 Debtor guarantees that if any construction related activities are funded, in whole or in part with HUD-EDP funds, the construction must comply with the Davis-Bacon Act (labor standards.) 4.11 In performing this Agreement, Debtor shall comply with all local, state and federal laws. 4.12 The guidelines of the City's HUD-EDP Program, the HUD-EDP Pre-Application form and, the HUD-EDP Formal Applications form submitted by Debtor for assistance under the HUD-EDP are incorporated by reference hereto and shall be as binding upon the Debtor as if contained herein. 4.13 With the exception of the repayment of the HUD-EDP loan, and the maintenance of jobs, Debtor agrees that it will have complied with all of its responsibilities under this Agreement no later than two years from the execution date of this Agreement. In the event Debtor fails to create or retain all the jobs specified in this Agreement, Debtor will be required to reimburse the City a proportionate share of the HUD-EDP loan on an accelerated basis for the jobs not created or retained unless authorization is received by the City from HUD to deviate from this requirement. .¿ 4.14 In the event Debtor fails to fulfill in a timely and proper manner its obligations under this Agreement, or if Debtor violates any of the provisions of this Agreement, or if this Agreement is placed in the hands of an attorney for collection regardless of whether or not suit is filed, or if this Agreement is collected by suit or legal process including but not limited to, Probate Court or Bankruptcy proceedings, Debtor will pay City's reasonable attorney's fees and expenses of collection. Reasonable attorney's fees are deemed to be 10% of all amounts due unless proven greater. 4.15 Should any provision herein be found or deemed to be invalid, this Agreement shall be construed as not containing such provision, and all other provisions which are otherwise lawful shall remain in full force and effect, and to this end the provisions of this Agreement are declared to be severable. ARTICLE 5 SUCCESSORS AND ASSIGNS 5.1 The City and the Debtor, respectively, bind themselves, their successors, assigns and legal representatives to the other party to this Agreement and to the successors, assigns and legal representatives of such other party with respect to all covenants of this Agreement. Neither the City nor the Debtor shall assign, sublet or transfer any interest in this Agreement without the written consent of the other.