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<br />HliD.620',a
<br />(94<)}
<br />
<br />~'eeti
<br />
<br />503. Px'ohibition ,~f,!',inst 'X'nwafer of
<br />Alao, for the f(;;;::,,;going rllUOOS the
<br />end.: it.s GJ.H>' !;:'<.<:{)!,,'S ;:rnCl
<br />
<br />
<br />Pro.e:::rty and ABa1.f'pment cf
<br />Fi-edeveloper represents'and
<br />! \hat:
<br />
<br />.
<br />
<br />t,,,,;
<br />'"c:;;,j
<br />
<br />(1)
<br />
<br />lJy w"y of
<br />obUi,1n1!1!1;
<br />f),J,1Y SUC"-"::<;:J$.';(;!'
<br />
<br />.$......,"" (1.) th"", nU""'Y"f"\'--''''' ," 0/
<br />.v.._, 'd.-" r ,~s/.,,,,;-~ ",I;
<br />1'1ecetH;~Mt"Y to en{;iLble the I\e-de'\o"elQp'"'?Y' O}~'
<br />in :tut1:1"~Bt to th4:~ 1 or ii:.ny
<br />j,t" obl:l,n;'lti,O!\!l ,,'1th r,eflJ;>ect to l"s.ktn.r,
<br />the' , n:ud (i1) any ,,\
<br />purpose authorized by the Agr~e~nt, and
<br />
<br />
<br />ty
<br />
<br />~u;/l
<br />
<br />to
<br />
<br />the
<br />
<br />(2)
<br />
<br />1M'! to MY individual parts or parcels of the Property on
<br />which the Improvement!;! to be coostructed thereon beve been
<br />completed, ~,t\,l 1;J;lich, by the tams of ';he Ag:reeltemt, tho
<br />~edevelop~r i8 authori~~d to conveyor lease as such
<br />Improv',nllcntll ar<1 cOlllPle tea,
<br />
<br />.
<br />
<br />the Redeveloper (except a:; lIO author ) has not made or created, and till"'"
<br />it will not, prior to the proper c tiotl. of the !wpTovementa a,a
<br />certified by the Agency, make or create, or suffer to be made or created,
<br />s;{r:l totti1 01'" pa'!"tial sale, con\~e:)'"'Mcet or lease, or any: trl,lfJt
<br />or po....rer, or transfer in &lY other e or form of or \l1th x'ellpect to 'c,","
<br />Agre/$:;:,ent Ql" the Pl'oporty, or fJ'!xi thereof or ony interest the-et'.;, (1"
<br />fk1Y contract or I".greem",nt to do ell the eMlc, without. the pr'ier Vlrltt,t,
<br />.\pprovliIl of the At~ency; i'rovided, 'I'hat, prior to t"", iSSUMce by ti"..
<br />Agency of the certificate provIded fer in Section 307 hereof as to
<br />completion of conatrucUoll of the Improvementa, the Redeveloper may entu:,
<br />into 1!\l:I;f ll.greement to sell, lease, or otherwise tZ'l!\l:Iafer, after the
<br />i$!lUill1ce of euch certificate, the Pnrperty or !\I,ny part thereof or inteTd'~t
<br />'1hich <1greement ahaD not pro for payment of or on accovnt o:c
<br />the purehll.lle prlce or z'ell'(, ror the Pro ti, or the pGl't thel'eof (,I' l.l.~
<br />interellt therein to be eo tr{illsferred, prior to'the issuance of such
<br />certifiC!l:te.
<br />
<br />(0)
<br />11l'ovided
<br />
<br />The A~ency ahall be entitled to require, except as otherwise
<br />in the Agl;'NH1X",t, as conditions to allY such app1'o"9.1 that:
<br />
<br />.
<br />
<br />(1) Any proposed tr~}sferee shnll have the qualifications and
<br />financial responsibility, as determined by the Agency,
<br />necessary Md Mequate to fulfill the obligations undert~,:(':;;1
<br />in the Agrce):C~nt by the Redeveloper (or, ill the ~ven \, u;c
<br />trannfer is of or relates to p~rt of the Property} such
<br />t.(} tL\,; c.}{t<~nt tbx-.,:t they relHle to DUr':h PH_,:i;,}"
<br />
<br />tL:.:
<br />
<br />transferee, by in5tru~ont in writing
<br />to the Agency and in form recordable among
<br />__,.",,,,',.,.:,, "J: ,'" .'0 i+ "'-if' ,,:;!1 t+,-~ Gt'Cr:E:-2FOrS :Rr\(~
<br />
<br />f Ol~ Ut'i)
<br />eol.J. of Uw'
<br />
<br />of 'the Agenc;y j t:li.-:."
<br />i;)us- of the RC';~~;"';".f~ 1 1"
<br />
<br />(2)
<br />
<br />Any proposed
<br />satisfactory
<br />
<br />_,.J.;J;':,:;
<br />
<br />,
<br />expl"es111y
<br />
<br />&ad
<br />
<br />
<br />. 10 .
<br />
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