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2.08. Prohibition against Transfer of the Property <br />City enters this Agreement in furtherance of the goal of <br />neighborhood revitalization and in reliance on the Developer's <br />representation that he shares this goal and does not intend merely <br />to speculate in land values. Prior to the issuance of a <br />Certificate of Completion as provided for in section 2.07 of this <br />Agreement, Developer shall not sell, transfer, convey, assign, or <br />lease the Property, or any part thereof, without prior approval of <br />the City. <br />2.09. Nonassignability and Delegation <br />Developer shall not assign any rights under this Agreement <br />except upon prior written authorization from the City. <br />Developer shall not make any delegation of authority or <br />responsibility which would in any way purport to relieve Developer <br />of any covenant imposed by this Agreement.' <br />2.10. Occupancy of the Pro -pert <br />Developer represents that at the time this document was <br />executed by the parties, the Property was uninhabited and will <br />remain so for the duration of the Project. Therefore, Developer <br />shall hold City harmless for any relocation claims arising out of <br />the Project. <br />ARTICLE 3 <br />CITY LOAN <br />3.01. City --Loan Commitment <br />The City hereby commits to provide a City Loan to Developer, <br />in the principal amount of $3a,3lo,60 to assist in financing the <br />Project, subject to the terms and conditions hereinafter set forth. <br />The amount of the City Loan represents the sum of funds to be <br />loaned to Developer pursuant to the following housing loan <br />programs; <br />Infill Loan Program: $ <br />Offsite Improvement Loan Program: $ <br />Rehabilitation Loan Program: $-3;�,,�jO,00 <br />Page 4 of 10 Pages <br />EXHIBIT I <br />