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<br />.
<br />
<br />then the Agency shall have the right to re-enter and take
<br />possession of the Property and to terminate (and revest in
<br />the Agency) the estate conveyed by the Deed to the Rede-
<br />veloper, it being the intent of this provision, together
<br />with other provisions of the Agreement, that the conveyance
<br />of the Property to the Redeveloper shall be made upon, and
<br />that the Deed shall contain, a condition subsequent to the
<br />effect that in the event of any default, failure, vio1atio;',
<br />or other action or inaction by the Redeveloper specified in
<br />subdivisions (a), (b), (c), and (d) of this Section 704,
<br />failure on the part of the Redeveloper to remedy, end, or
<br />abrogate such default, failure, violation, or other action
<br />or inaction, within the period and in the manner stated in
<br />such subdivisions, the Agency at its option may declare a
<br />termination in favor of the Agency of the title, and of all
<br />the rights and interests in and to the Property conveyed
<br />by the Deed to the Redeveloper, and that such title and all
<br />rights and interest of the Redeveloper, and any assigns or
<br />successors in interest to and in the Property, shall revert
<br />to the Agency: Provided, That such condition subsequent
<br />. and any revesting of title as a result thereof in the Agency
<br />
<br />(1) shall always be subject to and limited by, and
<br />shall not defeat, render invalid, or limit in
<br />any way, (i) the lien of any mortgage authorized
<br />by the Agreement, and (ii) any rights or interests
<br />provided in the Agreement for the protection of the
<br />holders of such mortgages; and
<br />
<br />(2) with respect to subdivisions (a), (b) and (c)
<br />shall not apply to individual parts or parcels of
<br />the Property (or, in the case of parts or parcels
<br />leased, the leasehold interest) on which the
<br />Improvements to be constructed thereon have been
<br />completed in accordance with the Agreement and
<br />for which a certificate of completion is issued
<br />therefor as provided in Section 307 hereof.
<br />
<br />.
<br />
<br />.
<br />
<br />In addition to, and without in any way limiting the Agency's
<br />right to reentry as provided for in the preceding sentence,
<br />the Agency shall have the right to retain the Deposit, as
<br />provided in paragraph (d), Section 3 of Part I hereof,
<br />without any deduction, offset or recoupment whatsoever,
<br />in the event of a default, violation or failure of the
<br />. Redeveloper as 'specified in the precedirigsentence.
<br />
<br />','.- .,"
<br />
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<br />
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<br />
<br />SEC. 10. COUNTERPARTS
<br />
<br />This Agreement is executed in five (5) counterparts, each
<br />of which is deemed to be an original.
<br />
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