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this Article III shall remain in effect without limitation as to time. Section 3. Enforceability by Agency and United States. In amplification and not in restriction, of the provisions of Section 2 of this Article III, it is in- tended and agreed that the Agency shall be deemed a beneficiary of the covenants provided in Section 1 of this Article III and the United States shall be deemed a beneficiary of the covenant provided in subdivision (b) of such Section 1, both for and in their or its own right and also for the purposes of protecting the interest, of the community and the other parties, public or private, inwhose favor or for whose benefit such covenants have been provided. Such covenants shall run in favor of the Agency and the United States for the entire period during which such coven- ants shall be in force, without regard to whether the Agency or the United States is or has been an owner of any land or interest therein to, or in favor of, which such covenants relate. The Agency shall have th right, in the event of an7 breach of any such covenants, and the United States shall have the right, in the event of any breach of the covenant provided in subdivision (5) of Section 1 of this Article III, to exercise all the rights and remedies and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breach of covenant, to which it or any other beneficiaries of such covenant may be entitled. ARTICLE IV. PROHIBITIONS AGAINST ASSIGNMENT AND TRANSFER. Section 1. Representation as to Redevelopment. The Public Body represents and agrees that its purchase of the Property shall be for the purpose of redevelop- ment of the Property in accordance with the Urban Renewal Plan and this Agreement. Section 2. Prohibition Against Transfer of Property and Assignment. The Public Body has not made or created, and will not, prior to the proper completion of the improvements, as certified by the Agency, make or create, or suffer to be made or created, (a) any total or partial sale, conveyance or lease of the property, or any part thereof or interest therein or (b) any assignment of this Agreement, or any part thereof, or (c) any agreement to do any of the foregoing, without the prior written approval of the Agency. Such approval shall be on such condition as the Agency may in its exclusive discretion determine, including, but not limited to, the assumption by the proposed transferee, by instrument in writing, for itself and its successors and assigns, and for the benefit of the Agency, of all obligatinns of the Public Body under this Agreement. -6-