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JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R mortgage or deed of trust debt, including principal and interest and all other sums secured by the mortgage or deed of trust. If the ownership of the Project Site or any part thereof has vested in the holder, the Agency, if it so desires, shall be entitled to a conveyance of the Project Site from the holder to the Agency upon payment to the holder of an amount equal to the sum of the following: A. The unpaid mortgage or deed of trust debt at the time title became vested in the holder (less all appropriate credits, including those resulting from collection and application of rentals and other income received during foreclosure proceedings); B. All expenses with respect to foreclosure; C. The net expense, if any (exclusive of general overhead), incurred by the holder as a direct result of the subsequent management of the Project Site or part thereof; D. The costs of any improvements made by such holder; and E. An amount equivalent to the interest that would have accrued on the aggregate of such amounts had all such amounts become part of the mortgage or deed of trust debt and such debt had continued in existence to the date of payment by the Agency. §518 Right of the Agency to Cure Mortgage or Deed of Trust Default In the event of a mortgage or deed of trust default by the Developer prior to the completion of the construction of the improvements on the Project Site or any part thereof and the holder of any mortgage or deed of trust has not exercised its option to construct, the Agency may cure the default prior to completion of any foreclosure. In such event, the Agency shall be entitled to reimbursement from the Developer of all reasonable costs and expenses incurred by the Agency in curing such default. The Agency shall also be entitled to a lien upon the Project Site to the extent of such costs and disbursements. Any such lien shall be subject to mortgages or deeds of trust executed for the purpose of obtaining funds to construct the improvement on the Project Site as authorized in Section 514. §519 Right of the Agency to Satisfy Other Liens on the Acquisition Parcels After Title Passes After the conveyance of title and prior to the issuance of a Certificate of Completion and after the Developer has had a reasonable time to challenge, cure or satisfy any liens or encumbrances on the Acquisition Parcels, the Agency shall have the right to satisfy any such liens or encumbrances, provided, however,that nothing in this Agreement shall require the Developer to pay or make provision for the payment of any tax, 25