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(ii SEC. 704 This Section is hereby deleted in its entirety and a new Section 704 is inserted as follows: SEC. 704 Revesting Title in Agency Upon liappening of Event Subsequent to ~b'nv3yanCe to ~d~'ve.lOpgr. Ih"'t~e" event 'that subsequent to conveyance of' the Property or any part thereof to the Redeveloper (a) the Redeveloper (or successor in interest) shall default in or violate its obligations with respect to the construction of the Improvements (including the nature and the dates for the beginning and completion thereof), or shall abandon or. substantially suspend construction work, and any such de- fault, violation, abandonment, or suspen- sion shall not be cured, ended, or remedied within three (3) months (six (6) months, if the default is with respect to the date for completion of tile Improvements) after writ- ten demand by the Agency so to do; or (bi the Redeveloper (Or successor in interest) shall fail to pay real estate taxes or as- sessments on the Property or any part there- of when due, or shall place thereon any encumbrance or lien unauthorized by the Agreement, or shall suffer any levy or at- tachment to be made, or any materialmen's or mechanics' lien, or any other author- ized encumbrance or lien to attach, and such taxes or assessments shall 'not'have ~een paid, or the encumbrance or lien re- moved or discharggd or provision saris-. factory to the Agency made for such pay- ment, removal, or discharge, within ninety (90) days after written demand by the Agency so to do; or (c) there is, in violation of the Agreement, any transfer of the Property or any part thereof, or any change in the ownership or distribution of the stock of the Re~ developer,, or with respect to the identity of the parties ill control of the Redeveloper or the degree thereof, and such violation shall not be cured within sixty (60) days after written demand by the Agency to the Redeveloper; pr -32-