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2 . Any rights or interests provided in this <br /> Agreement for the protection of the holders of such mortgages, <br /> deeds of trust or other security interests; <br /> 3 . Any leases, declarations of covenants, <br /> conditions and restrictions, easement agreements or other recorded <br /> documents applicable to the Property. <br /> d. The grant deed to or ground lease of any portion of <br /> the Property conveyed or leased by the Developer to another party <br /> shall contain appropriate references and provisions to give effect <br /> to the Agency' s right, as set forth in this Section under specified <br /> circumstances prior to the recordation of the Certificate of <br /> Completion, to reenter and take possession of such parcel, or any <br /> part thereof, with all improvements thereon, and to terminate and <br /> revest in the Agency the estate conveyed to the Developer. <br /> e. Upon the revesting in the Agency of title to the <br /> Property, or any part thereof, as provided in this Section, the <br /> Agency shall, pursuant to its responsibilities under State law, use <br /> its best efforts to resell the Property, or any part thereof, at <br /> fair market value as soon and in such manner as the Agency shall <br /> find feasible and consistent with the objectives of such law, to a <br /> qualified and responsible party or parties (as determined by the <br /> Agency) who will assume the obligations of making or completing the <br /> improvements, or such other improvements in their stead as shall be <br /> satisfactory to the Agency and in accordance with the uses <br /> specified for the Property, or any part thereof . Upon such resale <br /> of the Property, or any part thereof, the proceeds thereof shal l be <br /> applied: <br /> 1 . First, to make any payment made or necessary to <br /> be made to discharge or prevent from attaching or being made any <br /> subsequent encumbrances or liens due to obligations incurred with <br /> respect to the making or completion of the agreed improvements or <br /> any part thereof on the Property, or part thereof; next to <br /> reimburse the Agency on its own behalf or on behalf of the City for <br /> all actual costs and expenses incurred by the Agency and the City, <br /> including but not limited to customary and reasonable fees or <br /> salaries to third party personnel engaged in such action (but <br /> excluding the Agency' s or the City' s general overhead expense) , in <br /> connection with the recapture, management and resale of the <br /> Property or part thereof; all taxes, assessments and water and <br /> sewer charges paid by the City and/or the Agency with respect to <br /> the Property or part thereof; any amounts otherwise owing to the <br /> Agency by the Developer and its successor transferee; and <br /> REDW\0006\DOC\013-7 <br /> 3 9 1\11\08 940 law <br />