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SEC. 5. PERIOD OF DURATION OF CC%;ENANT ON USE The covenants pertaining to the uses for that portion of the Property comprising the Phase I Parcel set forth in this Agreement and the Deed shall remain .in effect until thirty-five (35) years from the date of the Deed or until the maturity date of the mortgage pertaining thereto, whichever is longer, except that the covenants against racial discrimination shall remain in perpetuity. Except as otherwise expressly provided in Section 704 here- of, breach of any of the covenants or provisions contained in.this Agreement shall not give rise to any right of reverter, to any estate of reverter, nor to any right of reentry or forfeiture of the Property or any part thereof or any interest therein to the Agency, the City, the United States, to the owner of any land in the Project area, or to any successor, assignee in interest in the Property or any part thereof or any interest herein. SEC. 6. NOTICES AND DEMANDS A notice, demand, or other communication under the Agreement by either party to the other shall be sufficiently given or deliv- ered if it is dispatched by registered or certified~mail, postage prepaid, return receipt requested, or delivered personally, and (i) in the case of the Redeveloper is addressed to or delivered personally to the Redeveloper at 15233 Ventura Boulevard, Suite 816, Sherman Oaks, California 91403; and (ii) in the case of the Agency, or Authority is addressed to or delivered personall~ to the Agency at 20 Civic Center Plaza, Santa Ana, California 92701; or at such. other address with respect to either Such party as that party may, from time-to-time designate in writing and forward to the other as provided in this Section. SEC. 7. PUBLIC AND PRIVATE FINANCING OF THE DEVELOPMENT The property acquisition and site preparation by the Agency under this Agreement shall be financed, in part, through the pre- payment of part of the Purchase Price for the Property by the Redeveloper. Community Development Block Grant Funds and any other funds lawfully available to the Agency from time to time will be used by the Agency to complete the acquisition of title to such properties comprising the Property, for the relocation of occupants within the Property, for the demolition, clearing and grading of the Property, for public improvements and such other expenses incurred by the Agency for the d~velopment. -12-