SITE INFORMATION AND CORRESPONDENCE_1

Home Browse Search

I' the tmprwmtnts an • bests and on teems that would generally In the opinion of Agency be considered satisfactory by builders or contractors for improvexants of the nature and type +revldsd In such Construction Plans, and the Redeveloper shall, allot hewing submitted such evidence and if so requested by the Agency, continue to make diligent efforts to obtain such financing for a period of 60 days after such rpuest,. but without s,eegog; than this agreement shell, At the option of the Redeveloper, be cancelled, and the RM@veloper &hall be entitled to a return of the Deposit, .and neither the Agency nor the Red*"toper shall have any further rights againat or Ilabtlity to the other under this Agreement. 11. In the event thatt (1) Prior to conveyance of the Property to the Rudevalopgr and In via• lstiom of this Agramownti (1) The Red*"toper (or any successor to interest) aes/gme or attempts to ass tgn t111 8 Agreement or any right therein or In the Property, or (1l) There le any change In the Ownership or.distribution of the steak et the Rede"tepee, Of with respect to the Identity of the parties in can• trol of the Rade"loper�or the degree thereof; or (2) The Rais"Seper dsog net submit Castructloft Flame. er (except al exmaad wrier Paragraph 2 Of Section 10) wid«t that it hes the necessary *esty capital sed financing in aattnfactory form and to the masseur and y the reeps"ti"ly prevlded lm this Agrsexott tberefor. Or the Redeveloper does met pay the Purchase Price for. and talks title to. the Property upoe Proper tofar of Conveyance by the Agency purmu"t to this Agreexuft. died any such default or ' rot fall=* Shell mat be meed within 60 days After written dammed by the Ag«y; than this •gramvmt. W day rights of the gads"lop". Or aq maatgo" or trnen- ea fm* . L s this Agreement, Or Greettb@r&fnm with respect to the ASenty ar the Property shall. At the 0Ptlen Of the Agency, be terminated by the Agency. IA which caveat the "Poslt *hall be retained by the AR«y As I1901dated damages and u its property wtth"t aey dadsctlom, Offset. Or roCoupeenheW w t wtmeseer, ttb@r the toper (Or "At$"" Or treasf*r*W nor the Agency &halt have &my further rltbt& against Or llabllity, to the other under this &greement. - 12. (a) In the @vent that exheeposot to comvu"exe of the Property or may hart thereof to the Rud@v@lap@r and prior to completion of the I, roper as certified y the Agency; (1) the Redevelopme (or sgocessor I& Interest) dihell default in Or vlelat@ its OblUttlwas with respect to the co10saructtom of the I'rovemsmto (lA- ch"S without limlutlon the nature std the daces for the begiomlq W mom. Pletlem thereof), ar shell abandon or substantially am@Perd coast wort, and any much default or vtole:loa, abandonment Or exapansieft shall not t ache. ended, Or ramedtes withim y0 days (100 days it the defsdt is etch respect to the data tar caylet"m of the Improvements) After written demand by the AS«y en to do; or (it) The Radeveleper (or suet@asor In Interest) shell fall to pay real Property toes or asM@enets an the Property or asp part thereof when due. Or shall place thereon sAy snaabex adiu rsetg or Ilan y this Agreement. or. . shall suffer any 1@" or Attachment to he 10060. or any materia Let's or 0"hsaleg' lien or Any ether uopucberi&sd «te0rnts or lien to attach, aha such teres or assessment& shall not have been paid, or the encumbrance Or lion removed or dis- charged, of Prmvtatom sAtlsfadtery to the AOency made for such payment, removal, or discharge, wlthLu 10 days after written demand by the Agency so to dei or •13- i NX-0271'd r*:'jJ3 i