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<br />r <br />I <br /> <br />Participant shall be in default under this Agreement and <br /> <br />. <br /> <br />Agency shall be entitled to exercise any of the rights and <br /> <br />remedies available to A~ency without any requirement of <br /> <br />notice of default by Agency to Participant and without any <br /> <br />right of Participant to cure, correct or remedy such <br /> <br />defau"l t." <br /> <br />5. Paragraph 2 of Section V.D. of th~ <br />, <br /> <br />Participation Agreement is hereby amended to read as <br /> <br />follows: <br /> <br />"2. Termination by Agency <br /> <br />"( a) In the event that prior to conveyance of <br /> <br />title to the Sales Parcel: <br /> <br />. <br /> <br />(i) Participant, or any successor in <br /> <br />interest assigns or attempts to assign this agree- <br /> <br />ment or any rights herein, without written consent <br /> <br />of Agency; or <br /> <br />(ii) There is a substantial change in <br /> <br />ownership of Participant, contrary to the <br /> <br />provisions of Section ~.A. hereof; or <br /> <br />(iii) Participant does not submit con- <br /> <br />struction drawings and ,related documents as <br />required by this agreement in satisfactory <br /> <br />form or in the manner or by the dates provided <br /> <br />. <br /> <br />in this agreement; or <br /> <br />( iv) <br /> <br />If Participant is not diligent in <br /> <br />pursuing a deteLTIination regarding zoning in <br /> <br />compliance with Section II.K. herein; <br /> <br />thcn A~ency's obligations :under this agrcement, and any or <br />I <br />all rights of Participant or its successors in interest <br /> <br />therein may, at the option of Agency, be terminated by <br /> <br />Agency. <br /> <br />. <br /> <br />4. <br /> <br />145 <br /> <br />48 <br />