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5. At the time of execution and delivery of this Agreement, the City shall pay to the <br /> Bank (in immediately available funds) the City's proportionate share of all <br /> amounts heretofore advanced by the Bank to the Debtor on the Indebtedness, <br /> and similarly for any future disbursements made by the City thereon. <br /> <br />6. The Bank shall administer, manage and service the Indebtedness under the Loan <br /> Documents. The Bank shall, with the prior notice to the City, exercise collection <br /> rights with respect to any collateral; foreclose against any collateral of accept a <br /> transfer in lieu of foreclosure; collect and receive any and all payments, <br /> collections and proceeds of collateral made or delivered by or for the account of <br /> the Debtor; release such payments, collections and proceeds to the Debtor or <br /> apply the same to the payment of the Indebtedness; and enforce rights against <br /> third parties. In carrying out its obligations, the Bank shall act in honesty and in <br /> good faith. The Bank shall be liable for any action taken or omitted by the Bank <br /> except in the case of failure to perform its obligations under this Agreement or <br /> willful misconduct. <br /> <br />7. All payments received by the Bank after the occurrence of any Event of <br /> Termination (whether such payments are from the Debtor or out of any collateral <br /> or from any other person or out of any other property) shall be applied: first to <br /> pay or reimburse the Bank for expenses incurred; second to the Bank's principal <br /> portion and interest; and, third the City shall be paid its principal plus interest. <br /> Any excess shall be split in accordance with the proportion of participation. The <br /> <br /> <br />