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10/1/08 <br />any amounts otherwise owing the Agency, and in the event <br />additional proceeds are thereafter available, then <br />ii. Second, to reimburse the Developer, its successor or transferee, up <br />to the amount equal to the sum of (a) the costs incurred for the <br />acquisition and development of the Sites and for the improvements <br />existing on the Sites at the time of reentry and possession, less (b) <br />any gains or income withdrawn or made by the Developer from the <br />Sites or the improvements thereon. <br />Any balance remaining after such reimbursements shall be retained by the <br />Agency as its property. The rights established in this section 505 are not intended to be <br />exclusive of any other right, power or remedy, but each and every such right, power, and <br />remedy shall be cumulative and concurrent and shall be in addition to any other right, <br />power and remedy authorized herein or now or hereafter existing at law or in equity. <br />These rights are to be interpreted in light of the fact that the Agency will have conveyed <br />the Sites to the Developer for redevelopment purposes, particularly for development of <br />affordable housing and appurtenant uses, and not for speculation in undeveloped land. <br />506. Acceptance of Service of Progress. In the event that any legal action is <br />commenced by the Developer against the Agency, service of process on the Agency shall <br />be made by personal service upon the Executive Director of the Agency or in such other <br />manner as may be provided bylaw. In the event that any legal action is commenced by <br />the Agency against the Developer, service of process on the Developer shall be made by <br />personal service upon the Executive Director of the Developer or in such other manner as <br />may be provided by law. <br />507. Rights and Remedies Are Cumulative. Except as otherwise expressly <br />stated in this Agreement, the rights and remedies of the parties are cumulative, and the <br />exercise by either party of one or more of such right or remedies shall not preclude the <br />exercise by it, at the same or different times, of any other rights or remedies for the same <br />default or any other default by the other party. <br />508. Inaction Not a Waiver of Default. Any failures or delays by either party <br />in asserting any of its rights and remedies as to any Default shall not operate as a waiver <br />of any Default or of any such rights or remedies, or deprive either such party of its right <br />to institute and maintain any actions or proceedings which it may deem necessary to <br />protect, assert or enforce any such rights or remedies. <br />509. Applicable Law. The Laws of the State of California shall govern the <br />interpretation and enforcement of this Agreement. <br />600. GENERAL PROVISIONS <br />601. Notices, Demands and Communications Between the Parties. Any <br />approval, disapproval, demand, document or other notice ("Notice") which either party <br />may desire to give to the other party under this Agreement must be in writing and maybe <br />26 <br />