What happens to my read-replica database in failover mode?

I have a few basic questions about Azure failover. I am new to failover. I've been reading the literature and I'm ready to give this a shot. Before I take the plunge, I'd like to have a better understanding of how this will work. We have a primary database on a server on one region, let's call that server DBPrime. We recently created a read-replica on a server in a different region. Our first step was to offload read workloads to the read-replica. Let's call that server DBRead. We now want to take the next step and set up failover. If I understand the literature correctly, I don't need a third server for failover purposes. Rather, I can use the read-replica server to function as my alternate server for failover? Here is my understanding of what will happen if failover is triggered. Please let me know if I'm correct about each of these statements, or if I'm not understanding this properly. 1. Azure will swap server names so that DBRead is now DBPrime and vice versa. 2. The new DBPrime will transition from read-only mode to read-write. 3. Application references to DBPrime will seamlessly access the new DBPrime 4. Workloads referencing DBRead will not be able to access the server because that server is currently down (which triggered the failover to begin with). (We can discuss separately what happens when we come out of failover. Bu no sense in getting to that until I understand what happens when we go in to failover mode.) Thank you for your advice!