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be terminated by the Agency if there is any significant or material change, whether voluntary or involuntary, in membership, ownership, management or control of the Developer (other than such changes occasioned by the death or incapacity of any individual) that has not been approved by the Agency at the time of such change, prior to issuance of a final Certificate of Completion for the Project; provided, however, that : (a) the Agency shall first notify the Developer in writing of its intention to terminate this Agreement pursuant hereto, and (b) the Developer shall have twenty (20) days following the date of receipt of such written notice to commence and thereafter diligently and continuously proceed with the cure of the default of the Developer hereunder, and (c) the Developer shall submit evidence of the satisfactory completion of such cure to the Agency within thirty (30) days following the receipt of such written notice in a form and substance deemed satisfactory to the Agency, in its reasonable discretion. Section 1 . 05 . Relationship of This AQreement to Oriqinal Disposition and Develo�ment Aareement . The parties to this Aareement acknowledcte that thev previouslv entered into that certain Disposition and Development Actreement Bv and Between Redevelopment Acrencv of the Citv of Redwood Citv and Peninsula Habitat for Humanitv, A California non- profit corporation, bearinq the date of March 14 , 2005 (the "Orictinal DDA" ) . The parties aaree that this Aqreement fullv replaces the Orictinal DDA in its entiretv and that after execution of this Aqreement bv authorized individuals on behalf of both parties hereto, the Oriqinal DDA shall have no further force or effect . ARTICLE II DISPOSITION OF PROPERTY Section 2 . 01 . Disposition of Property. In order to facilitate the development of the Project on the Property, which shall consist of the construction of eight (8) town home units ( "Units" ) to be reserved for the sale to and occupation by persons not earning more than fifty percent (50%) of the Area Median Income ( "AMI" ) for San Mateo County, as determined by HUD ( "Qualified Buyers" ) , the Agency shall convey the Property to the Developer under the terms and conditions of this Agreement . The Agency' s sale of the Property to Developer shall be contingent upon the Agency' s acquisition of the Property from the City. In the event that the Agency is unable to secure the acquisition of title to the Property under the terms acceptable to the Agency within two (2) year(s) of formal approval of this Agreement by Agency or upon REDW\0006\DOC\013-7 3 1\il\o8 940 law