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H~.6?OgS <br /> <br />be cured within thirty (30) days af.ter the date of written <br />demand by the Red~.veloper; or <br /> <br />(b) <br /> <br />the Redeveloper shall; after preparabion of Construction Plans. <br />satisfactory to the Agency, furnish evidence satisfactory to <br />the Agency that iL has been unable, after and despite diligent <br />effort for a period of sixty (60) days after approval by the <br />Agency of the Construction Plans, to obtain mortgage financing <br />for the construction of the Improvements on a basis and on <br />terms that would geaerally be considered satisfactory by <br />builders or contractors for improvements of the nature and type <br />provided in such Construction Plans, and the Redeveloper shall, <br />after having submitted such evidence and if so requested by the <br />Agency, continue to make diligent efforts to obtain such <br />financing for a period of sixty (60) days after such request~ <br />but without success, <br /> <br />then the Agreement shall, at the option of the Redeveloper, be terminated <br />by written notice thereof to the ~gency, and, except with respect to the <br />return of the Deposit as provided in Paragraph (e), Section 3 of Part I <br />hereaf, neither the Agency nor the Redeveloper shall have any further <br />rights against or liability to the other under the Agreement. <br /> <br /> SEC. 703. Termination by Asenc~ Prior to Conveyance. In the event <br />that <br /> <br />(a) prior to conveyance of the Property to the Redeveloper and in <br /> violation of the Agreement <br /> <br />(i) <br /> <br />the Redeveloper (or any successor in interest) assigns or <br />attempts to assign the Agreement or e. ny rights therein~ <br />or in the Property, or <br /> <br />(ii) <br /> <br />there is any change in the ownership or distribution of <br />the stock of the Redeveloper or with respect to the Identity <br />of the parties in control of the Redeveloper or the degree <br />thereof; or <br /> <br />(b) the Redeveloper does not submit Construction Plans, aa required <br /> by the Agreement, or (except as excused under subdivision (b) of <br /> Section 702 hereof) evidence that it has the necessary equity <br /> capital and mortgage financing, in satisfactory form and in the <br /> manner and by the dates respectively provided in the Agreement <br /> therefor; or <br /> <br />(c) the Redeveloper does not pay the Purchase P~ice and take title to <br /> the Property upon tender of conveyance by the Agency pursuant to <br /> the Agreement, and if any default or failure referred to in <br /> subdivisions (b) and (c) of this Section 703 shall not be cured <br /> within thirty (]O) days after the date of written demand by the <br /> Agency, <br /> <br />- 16 - <br /> <br /> <br />