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{b) <br /> <br />{c) <br /> <br />(ii) <br /> <br />there is any change Jn the owllershJp <br />or distribution of the. stock of the <br />Redev~!oper.or with respect to the <br />identity of the parties in ~outrol <br />of the Redeveloper or the degree <br />thereof; or <br /> <br />the Redeveloper does not submit the Architect's <br />Certification and Construction Plans, as required <br />by the Agreement, or (except as 6xcused under <br />subdivision (b) of Section 702 hereof) evidence <br />that it has the necessary equity capital and <br />mortgage financing, in satisfactory form and in.. <br />the manner and by the respective dates provided <br />in the Agreement therefor; or <br /> <br /> · the Redeveloper does not pay the Purchase Price <br /> and take title to the Property or portions thereof <br /> upon tender of conveyance by the Agency pur- <br /> suant to the Agreement, and if any default or <br /> failure, referred to in subdivisions (b) and (c) <br />· of th%s Section 703 shall not be cured within <br /> thirty (30) days after the date 0f'written <br /> demand by the Agency,'or <br /> <br />(d) <br /> <br />In the event that the Agency, after and despite <br />diligent effort, is.unable to obtain from HUD <br />sufficient Community Development Block Grant <br />Funds or is unable to obtain such'other financing <br />in quantitites sufficient to enable the Agency. <br />to finance its share of the Project costs not <br />.later than the dates established therefor in the <br />Schedule of Performance, <br /> <br />then the Agreement, and any ~ights of the Redeveloper,'or a~y <br />assignee or transferee, in the Agreement, or arising therefrom <br />with respect to.the Agency or the Property or a~y unconveyed <br />portions thereof shall, at the option of the AgenCY and the <br />Authority, be terminated by the Agency. <br /> <br /> If the Agreement is terminated pursuant to this Section 703, <br />then as provided in Paragraph (a), Section 7 of Part I hereof, the <br />Initial Advance shall be retained by the Agency as liquidated <br />damages and as its property without any deduction, offset, or re- <br />coupment whatsoever. Thereafter, neither the Redeveloper (or as- <br />signee or transferee) nor the Agency or Authority shall have any <br />further rights against or liability to each other under this Agree- <br />ment with respect to the Property or any such unconveyed portions <br />thereof. <br /> <br />-31- <br /> <br />MAR 18 <br /> <br /> <br />