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HUD.620~B ., hgreof. A~l ~ork vith rc~pnc~ to ~h~' improvements to be conatructed or ,proviaed ~? the RedeveXoper on the Propcr~? .hsl~ b~ In conforml~ vi~ Construction Plans as approved by the Asency. The term "Zmprovemen%s", as used in'this Agreement, shall be deemed Lo have referen¢'e to the improvements as provided end specified in the Construction Plans as so approved. SEC, 302. Ch~nses in Construction Plans. If the Redeveloper ~esires to make any change in the Construction Plans after ~he~r ~pprove~ by ~he ~ency~ the Redeveloper sh~ll ~ubmit the proposed change to the ~ency for approval. If the C~lstruction F~s, as ~od~fled by the proposed ch~e~ confo~ to the requirements off Section 301 hereof with re~pect to such previously approved Construction Plans, the ~ency shall approve the pro~sed ch~e ~d notif~ the Redeveloper in ~itin~ off Its approval. Such ch~e Sn the Const~ction Plans shall, In ~y event, be d~e~d approved by the ~ency .... unless rejection thereoff~ in whole or in part, by ~itten not$ce thereof by the ~ency to the Redeveloper, sett~n~ forth in detail the reason~ therefor~ shall be ~de within the perl~ specified therefor in paragraph (d), Sect$on ~'of Fart ~ hereoff. SEC. 303. Evidence of E~uit~ C~pltal and ~ort~a~e F[n~cin~. promptly as possSble after approval by the ~ency of the Construction Pl~s~ ~d, ~n any event~ no later th~ the time s~cifled therefor in Paragraph (el, Section ~ of Part I hereof, the Redeveloper shall.submit to the ~en~y evidence s~t~sfaetory to the ~en~y that the Redeveloper has the equity capital ~d co~itments for ~rtga~e financin~ necessary for the const~ction of the ~provement~. SEC. 3Oh. ApFrovals o£ Construction Plans and Evidedce of Fina~cin~ As Conditions Precedent to Conveyance. The submission of ~onstruction Plans and their approval by the Agency as provided in Section ]O1 hereof, and the submission of evidencs of equity capital and commitments for mortgage financing as provided in Section 303 hereof, are, conditions precedent to the obligation o£ the Agency to convey thF Property to the Redeveloper. SEC. 305, Co~nencement and Completion of Construction of Improvements. The Redeveloper ugrees for itself, its successors and assigns, and every successor in interest to the Property, or any p~rt thereof, and the Deed shall contain ,.ovenants on the part of the Redeveloper for itself and such successors and assigns, that the Redeveloper, and such successors and assigns, shall promptly begin and diligently prosecute to completion the redevelopment of the Property through the construction of the Improvements thereon, and that such cons~ruction shall In any event be begun within the period specified in Section h of Part I hereof and be completed within t.he period specified {~ such Section It. It in l~tcnded and agreed, and the D~ted shat] so ~: pressly provide, that such asre~meni,s and covenants shall be covenants r~ nnin6 ~ith tho land and that they shall, in any event, and without re~ard to technical classifl~'at.l, on or dcsignatlon, legal or otherwise, 'and except, only ns otherwlso specifically provided in the AIJreement itself, be, to the fullest cx{,cnt permitted by law and equity, binding for the benefit of the community.and the Agency and enforceable by the Agency against the Redeveloper and lt~ successors and assigns to or of the Property or any part thereof or any interest therein. -5-