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<br />HUD.6209R
<br />(?-69)
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<br />hereof. All vork with respect to the improvements to be constructed or
<br />provided by the Redeveloper on the Property shall be in conformity with the
<br />Construction Plans as approved by the Agency, The term "Improvements", as
<br />used in this Agreement, shall be deemed to have reference to the improvement:;
<br />an provided ond specified in the Construction Plans as so approved.
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<br />SEe. 302. Chanl!:es in Construction Plans. If the Redeveloper desires t"
<br />make any chBllge in the Construction Plans after their approval by the Ageney,
<br />the Redeveloper shall submit the proposed change to the Abency for its
<br />approval. If the Construction Plans, as modified by the proposed change,
<br />conform to the requirements of Section 301 hereof with respect to such
<br />previously approved Construction Plans, the Agency shall approve the proposed
<br />chan8e and notify the Redeveloper in writing of its approval. Such change iI.
<br />the Construction Plans shall, in any event, be deemed approved by the Aaency
<br />unless rejection thereof, in Whole or in part, by written notice thereof by
<br />the Agency to the Redeveloper, setting forth in detail the reasons therefor,
<br />shall be made within the period specified therefor 1n paragraph (d), Section
<br />5 of Part I hereof.
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<br />SIC. 303. . Evidence of uit Ca 1tal and Mort "fI:e Financing. As
<br />pl'CIIIptly aa possible aHer approval by t e ency ot the Construction
<br />Plana, and, in any event, no later than the t1me specified therefor in
<br />Parasraph (e), Section 5 of Part I hereof, the Redeveloper shall submit
<br />to tbe Asency evidence satisfactory to the Asency that the Redeveloper
<br />haa the equity capital and commitments for mortg~ financing necessary
<br />for the construction of the Improvements.
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<br />8!X:. 3oJ.. Approvals of Construction Plans and Evidence 'of Financing
<br />As Conditions Precedent to Conveyance. Tbe submission of Construction
<br />Plans Clld their appro....al by the Agency as provided in Section 301 hereof,
<br />lAd the submittion of evidence of equity capital and commitments for
<br />mertsai' fiD&Dcing aa provided in Section 303 hereOf, are conditions
<br />precedent to the obligation,of the Asency to convey the Property to the
<br />Redeveloper.
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<br />SEe'. 305. COlllm3ncement and COIlIJlletion of Construction of
<br />Improvem~ntt. Tbe Redeveloper agrees for itself, its successors and
<br />assigns, end every successor in interest to the Property, or any part
<br />thereof, and the Deed shall contain covenants on the part of the
<br />Redeveloper for itself and such successors and assigns, that the
<br />Redeveloper, and such tuccessort and assigns, shall promptly begin and
<br />dili&~ntly prosecute to completion the redevelopment of the Property
<br />thrOU(3h the construction of the Improvements thereon, and that such
<br />construction shall in any event be begun within the period specified in
<br />Section 4 of Part I hereof nnd be completed within the period specified
<br />in such ~ctlon 4. It iPJ Int"!l""oj "'....d prr"'"e"O' o.:t~ the l''''",d cbr.ll eo
<br />expl'~1I51y pl"ovide, tb3t SUCD aareements end co~nW1ta shsll be covenants
<br />. ,ruDIling with the 1&Dcl Ul4tbat they thall, in any event, aDd without
<br />, ..... '!'f'(l:"l'd to t'!!chntc!\l cl""~~1'ir.Mion or cl"~1.1"nt'.Uon, l".",~l or othennse,
<br />and except only ea otherWise specifically provided in the Agreement
<br />itself, be, to the fullest extent permitted by lP..'/ end equity, binding for
<br />the benefit of the community and the Agency and enforceable by the Agency
<br />against the Redeveloper and its successors and aosigns to or of the
<br />Property or any p~rt thereof or any intereet therein.
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