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transfer or conveyance of the whole or any part of the Property or <br /> the improvements to be developed thereon in violation of the terms <br /> of this Agreement, and the Developer does not correct such <br /> violation within thirty (30) calendar days from the date of receipt <br /> of such notice. <br /> 2 . In addition to the above, the Agency may <br /> terminate this Agreement if Developer fails to satisfy the <br /> condition precedents set forth in Section 2 .02 (c) (1) , relating to <br /> securing of funding and financing commitments for the Project . <br /> 3 . Subject to written notice of default, which <br /> shall specify the Developer' s default and the action required to <br /> cure same and upon thirty (30) calendar days notice to the <br /> Developer of the Agency' s intent to terminate this Agreement <br /> pursuant to this Section, the Agency at its option may terminate <br /> this Agreement if the Developer does not carry out its other <br /> a responsibilities under this Agreement and such default is not cured <br /> or the Developer does not commence and diligently and continuously <br /> proceed with such cure within thirty (30) calendar days after the <br /> date of receipt of written demand therefor from the Agency. <br /> Section 5 . 07 . Rictht to Reenter, Repossess, Terminate <br /> and Revest. <br /> a. The Agency shall, upon thirty (30) calendar days <br /> notice to the Developer which notice shall specify this Section, <br /> have the right, at its option, to re-enter and take possession of <br /> all or any portion of the Property, together with all improvements <br /> thereon, and to terminate and revest in the Agency the estate <br /> conveyed to the Developer hereunder, if after conveyance of title, <br /> the Developer (or its successors in interest) shall: <br /> 1 . Fail to commence construction of all or any <br /> portion of the improvements as required by this Agreement for a <br /> period of ninety (90) calendar days after written notice;.to proceed <br /> from the Agency; provided that the Developer shall not have <br /> obtained an extension or postponement to which the Developer may be <br /> entitled pursuant to Section 6 . 05 hereof; or <br /> 2 . Abandon or substantially suspend construction <br /> a , of all or any portion of the improvements for a period of ninety <br /> � � (90) calendar days after written notice of such abandonment or <br /> 3 suspension from the Agency; provided that the Developer shall not <br /> ' have obtained an extension or postponement to which the Developer <br /> may be entitled to pursuant to Section 6.05 hereof; or <br /> REDW\0006\DOC\013-6 <br /> 37 3/08/05 mvc <br />