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<br />(h) Occupants of the Site. Title to the Property shall be <br />conveyed free of any possession or right of possessi.on except <br />that of Redeveloper, unless waived by Redeveloper in writing. <br /> <br />. <br /> <br />SEC. 3 GOOD FAITH DEPOSIT <br /> <br />(a) Amount. The Redeveloper has, prior to or simultaneous <br />with the execution of the Agreement by the Agency, delivered to <br />the Agency a good faith deposit in the amount of Eight Thousand <br />Dollars ($8,000.00) (hereinafter called "Deposit"), as security <br />for the performance of the obligations of the Redeveloper to be <br />performed prior to the return of the Deposit to the Redeveloper, <br />or its retention by the Agency as liquidated damages, or its ap- <br />plication on account of the Purchase Price, as the case may be, <br />in accordance with this Agreement. <br /> <br />I <br />, <br />I <br /> <br />. <br /> <br />The Deposit shall be in the form of a cashier's check. The <br />Deposit shall be deposited in an account of the Agency in a bank <br />or trust company selected by it. <br /> <br />(b) Interest. The Agency shall be under no obligation to <br />payor earn interest on the Deposit, but if interest is payable <br />thereon such interest when received by the Agency shall be prompt- <br />ly paid to the Redeveloper. <br /> <br />(c) Application to Purchase Price. Upon receipt by the <br />Agency of the documentation specified in Section 5 (d), and upon <br />written request of the Redeveloper the amount of the Deposit <br />shall be applied on account of the Purchase Price at the time pay- <br />ment of the Purchase Price is made. <br /> <br />(d) Retention by Aqency. upon termination of this Agreement <br />prior to conveyance as provided in Section 703 hereof, the Deposit, . <br />including all interest payable on such Deposit after such termina- <br />tion, shall be retained by the Agency as provided in Section 703 <br />hereof. . . <br /> <br />(e) Return to Redeveloper. upon termination of this Agree- <br />ment prior to conveyance as provided in Section 702 hereof, the <br />Deposit shall be returned to the Redeveloper by the Agency. <br /> <br />SEC. 4. TIME FOR COMMENCEMENT AND COMPLETION OF IMPROVE- <br />. MENTS AND OTHER ACTIONS <br /> <br />. <br /> <br />The construction of the Improvements referred to in Section <br />301 hereof and all other actions required to be taken under this <br />Agreement shall be commenced and completed within the times set <br />forth in the Schedule of Performance. Such periods of time may <br />be extended in writing from time-to-time by the Agency and the <br />Authority. Time periods specified in the Schedule of Performance <br /> <br />I <br />I <br /> <br />-9- <br />