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2 . Second, to the extent that any and all funds <br /> which are proceeds from such resale are thereafter available, to <br /> reimburse the Developer, or its successor transferee, up to the <br /> amount equal to the sum of the costs incurred for the development <br /> of the Property, or applicable part thereof, or for the <br /> construction of the improvements thereon including, but not limited <br /> to, costs of carry, taxes and items set forth in the Developer' s <br /> cost statement which shall be submitted to and approved by the <br /> Agency. <br /> 3 . Any balance remaining after the foregoing <br /> application of proceeds shall be retained by the Agency. <br /> f . The Agency may exercise its right of revesting title <br /> to the Property, and any improvements thereon, by recording with <br /> the office of the County Recorder a document entitled Notice of <br /> Revesting of Title to Real Property ( "Notice of Revesting" ) in <br /> substantially the form attached hereto as Exhibit "K. " Recordation <br /> of the Notice of Revesting shall constitute conclusive and binding <br /> evidence of revesting to the Agency of title in and to the Property <br /> and all improvements thereon and subsequent purchasers, lessees, or <br /> lienholders shall not be subject to any claim by the Developer as <br /> to the Property or any improvements thereon. <br /> ARTICLE VI <br /> GENER.AL PROVISIONS <br /> Section 6 . 01 . Notices, Demands and Communications <br /> Between the Parties . <br /> a. Any and all notices, demands or communications <br /> submitted by any party to another party pursuant to or as required <br /> by this Agreement shall be proper if in writing and dispatched by <br /> messenger for immediate personal delivery, or by registered or <br /> certified United States mail, postage prepaid, return receipt <br /> requested, to the addresses of the Agency and the Developer, as <br /> applicable, set forth in Section 6 . Ol .b below. Such written <br /> notices, demands and communications may be sent in the same manner <br /> to such other addresses as either party may from time to time <br /> designate as provided in this Section. Any such notice, demand or <br /> communication shall be deemed to be received by the addressee, <br /> regardless of whether or when any return receipt is received by the <br /> sender or the date set forth on such return receipt, on the day <br /> that it is dispatched by messenger for immediate personal delivery, <br /> or two (2) calendar days after it is placed in the United States <br /> mail as heretofore provided. <br /> REDW\0006\DOC\013-7 <br /> 4 0 1\il\08 940 law <br />