1976-01 CRA - Laserfiche WebLink

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. . . - / tal prior to conveyance of the Property to the Redeveloper and in violation or the Agreemen~ (i) the Redeveloper (or any successor in interest) assigns or attempts to assign the Agreement or any rights therein, or in the Property, or (ii) there is any change in the ownership or dis- tribution of the stock of the Redeveloper or with respect to the identity of the parties in control of the Redeveloper or the degree thereof; or (b) the Redeveloper does not submit the Architect's Certification and Construction Plans, as required by the Agreement, or (except as excused under subdivision (b) of Section 702 hereof) evidence that it has the necessary equity capital and mortgage financing, in satisfactory form and in the manner and by the dates respectively pro- vided in tae Agreement therefor; or (c) the Redeveloper does not pay the Purchase Price and take title to the property upon tender of conveyance by the Agency pursuant to the Agreement, and if any default or failure referred to in sub- divisions (h) and (e) of this Section 703 shall not be cured within thirty (30) days after the date of written demand by the Agency, thep the Agreement, and any rights of the Redeveloper, or any assignee or transferee, in the Agreement, or arising therefrom with respect to the Agency or the Property, shall, at the option of the Agency and the Authority, be terminated by the Agency. - If the Agreement is terminated pursuant to this Section 703, then as provided in Paragraph (d), Section 3 of Part I hereof, the Deposit shall be retained by the Agency as liquidated damages and as its property without any deduction, offset, or recoupment whatsoever. Thereafter, neither the Redeveloper (or assignee or transferee) nor the Agency or y Authority shall have any further rights against or liability to each' other under the Agreement. "'t'." -25-