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<br />a. Fail to proceed with the development and construction of <br />the improvements as required by the DDA for a period of three (3) <br />months after written notice thereof from the Grantor; or <br /> <br />b. Abandon or substantially suspend development or <br />construction of the improvements for a period of three (3) months <br />after written notice of such abandonment or suspension from the <br />Grantor; or <br /> <br />c. Transfer or suffer any involuntary transfer of the Site, or <br />any part thereof, in violation of the DDA. <br /> <br />Such right to repurchase, rent, and repossess, to the extend <br />provided in this paragraph 5, shall be subordinate and subject to <br />and be limited by and shall not defeat, render invalid, or limit: <br /> <br />a. Any mortgage, deed of trust or other security instrument <br />permitted by the DDA; or <br /> <br />b. Any rights or interests provided in the DDA for the <br />protection of the holder of such mortgages, deed of trust, or other <br />security instruments. <br /> <br />Nothing contained in this Certificate of Completion shall be deemed to <br /> <br />waive or otherwise affect in any way the rights of the Agency or the Developer <br /> <br />under the DDA except as expressly set forth herein, and the DDA shall remain in <br /> <br />full force and effect and shall remain an encumbrance on the Developer's title <br /> <br />until expressly removed upon the sale of such commercial/retail space (as <br /> <br />defined in the DDA). <br />Dated: !t. 27. V¡1 <br /> <br />REDEVELOPMENT AGENCY OF <br /> <br />THLTY ~~~~.~~~ CITY <br />By: . ~~~ <br />Executive Director <br />pursuant to Agency Resolution <br />No. 99 -zo <br /> <br />ATTEST: <br />; . ~ <br />~é~~~ ~ .\(\~.ý..\.\.~/ <br /> <br />RDA <br />f\sh\sh\Redwood <br />