Parse string into XML Powershell

I am trying to parse a string into an XML string in SharePoint Lob

The string I'm trying to parse:

f#^)X&9uk7u%

and the string with escape characters specified

f#^)X&9uk7u%

While parsing Powershell throws an error:

Unable to parse specified property into type System.String

The character causing issue is &. If I remove &, I can parse without any issues.

Any ideas would be great.

The code is as follows

The XML has the properties as below

<LobSystemInstance Name="MyLobInstance" DefaultDisplayName="MyLobInstance">
<Properties>
    <Property Name="Property1" Type="System.Boolean">true</Property>
    <Property Name="Property2" Type="System.String">{Property1}</Property>
    <Property Name="Property3" Type="System.String">{Property3}</Property>
    <Property Name="Property4" Type="System.String">{Property4}</Property>
    <Property Name="Property5" Type="System.String">{Property5}</Property>
    <Property Name="Property6" Type="System.String">{Property6}</Property>
    <Property Name="Property7" Type="System.String">{Property7}</Property>
    <Property Name="Property8" Type="System.String">{Property8}</Property>
    <Property Name="Property9" Type="System.String">{Property9}</Property>
    <Property Name="Property10" Type="System.String">{Property10}</Property>
    <Property Name="Property11" Type="System.String">{Property11}</Property>
    <Property Name="Property12" Type="System.String">{Property12}</Property>
   <Property Name="Property13" Type="System.String">{Property13}</Property>
</Properties>

Following are the commands in the powershell

//-- Get the BDC Schema as a string

$bdcModelSchema = (Get-Content $bdcModelFile.FullName) | Out-String 

//Replace the strings with desired values.

$bdcModelSchema = $bdcModelSchema.Replace("{Property1}", $Property2)
$bdcModelSchema = $bdcModelSchema.Replace("{Property2}", f#^)X&9uk7u% | Out-String)
$bdcModelSchema = $bdcModelSchema.Replace("{Property3}", f#^)X&9uk7u%)
$bdcModelSchema = $bdcModelSchema.Replace("{Property4}", $Property4)
$bdcModelSchema = $bdcModelSchema.Replace("{Property5}", "Property5")
$bdcModelSchema = $bdcModelSchema.Replace("{Property6}",$Property6)
$bdcModelSchema = $bdcModelSchema.Replace("{Property7}", $Property7)
$bdcModelSchema = $bdcModelSchema.Replace("{Property8}", $Property8)
$bdcModelSchema = $bdcModelSchema.Replace("{Property9}", $Property9)
$bdcModelSchema = $bdcModelSchema.Replace("{Property10}", $Property10)
$bdcModelSchema = $bdcModelSchema.Replace("{Property11}", $Property11)
$bdcModelSchema = $bdcModelSchema.Replace("{Property12}", $Property12)
$bdcModelSchema = $bdcModelSchema.Replace("{Property13}", ($Property13))

Won't work, because in XML & is a meta character.

To get around that the string should be defined as

$bdcModelSchema = $bdcModelSchema.Replace("{Property2}", 'x$*)X&7hl9u#')