80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J

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autl~arize such holder to ~~ndertake ar colrtir~€~e the cal~structroli or completion of the Developer` 7mp1'oVen~lents beyond the e~te~~t necessary t0 Consel~e or protect the 1lprove~rlel~ts ar ca~~struction already n~ade~ itha~~t first l~a~rin expressly ass~~lr~ed tl~e Developer's obligatio~rs to tl~e Agelrcy ~y ~~ritten agreetrlent reasonably satisfactory to the Agency The bolder, in that evelrt, m~~st agree to complete, 111 the ~~anner provided in tlais Agreement, the De~elopel4 ~n~provelnents, Any s~~ch holder properly completing the De~~eloper ~n~pravement shall be entitled, ~~pol~ eot~plialrce ~vith the requirements of Section ~ 13 of this Agreement, to a release of Canstr~~ctiolr ovenat~ts, It is tllld~rstood that a holder shall be deemed to ha~~e satisfied the tlrir;ty ~~0} day titrre limit set for~l~ abase for cam~nencil~g to cure or remedy a De~elae~~ defarrlt ~~lllch requires title andlor possessiol~ of the Site if and to the extetlt arry such holder leas itlait~ s~~c}~ thirty ~3U} day pel4iad carrrr~~enced pr;oceed~ngs to ab~al~r tltle ax~dlo~~ possession and thereaftexk the bolder diligently pursues such proceedings to calnpletion and cures or re~rredies the default, 1,fi ~'ai~ure of Ho~der• ~a Caznp~ete Developer Ympr~ovenxe~~~s. In alry case ~~rl~e~~e, thirty X30) days af~el• the bolder of any ~~na~•t~ge or deed off' tr~~t creating a lien ar elrc~~lnl~ralrce ~~pot~ the Site receives a Notice from the Agel~cy of a default by the De~reioper its calr~pletiolr of eot~structia~i of any Phase of tl~e Developer ~rnpz~o~rei~ents ~~rlder this Agreement, and sr~ch halder llas lrot eel•cised the optiolr to const~#uct as set for;tl~ i~r eetian 16.x, ar if It has ea~ercised the option but ~~as defaulted hereul~der and failed to tilnely cu~•o sr~ch default, the Agel~cy may pr~rchase the mortgage or deed of trust by payn~et~t to tl~e holder of tl~e a~~aur~t of the unpaid rno~~tae or' deed of tr;~~st debt, includirrg pr;i~rcipal at~d interest and all athe~• sr~xr~s secured by the lnol•tgage a~• deed of trust, ~f the a~~~ership of the applicable Phase leas vested ilk the halder, the Agency if it sa desires, shall be entitled to a corr~eyalrce from the l~olcler to the Aelrc~? upa~~ paytrrent to the bolder of a~~ at~aunt equal to t~~e sum of tl~e following, ~a} The l~l~pa~d mortgage or deed of tz~r~st debt at the t~lne title became vested in the balder` bless all appropriate credits, inoludil~ those resulting fra~rl callectiolr and application ofrentals al~d other income received d~~ring fareclos~~re proceedings; fib} All e~pe~ases ~~ith respect to foreclosure includil~g reaso~aable attorneys' fees; ~c~ Tl~e let expense, if al~y ~exclr~srve of gel~etal o~rerl~ead~, incurred by tl~e bolder as a direct result o~ the subsequent rnanagemet~t of the Sate; ~d~ The costs of any ilrlprovelrrel~ts ~r~ade by such bolder; fie} An al~raunt equivalent to the il~terest tl7at ~vor~ld have accr~~ed an tl~e aggregate of such alnoulrts lead all such alrro~~l~ts became part of the lnol•#gage or deed of trust debt acrd ~~cl~ debt lead cantlnued In elstence to tl~e date afpaymex~t by the Agency; alyd ~f~ Any custarnar•y prepaytr~el~t charges ilr~posed by the lelyder p~~rstlant to its loan daculrrents and agreed to by the Developer 1~,8 ~~~h~ of f~le ~igellCy to ~ur'e Mortgage or' Deed of Trust l)efau~t~ r~l tl~e e~et~t of a rrrortae ol• deed of trust default o~~ breach by the Developer prior to the ca~npietiat~ of the constrt~ctlol~ of any of al~y Please of tl~e ]developer improvements ar any part ~S ~ DaCSOC114~0~73~?13120~272~~~~ ~