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q.�l- �Z� — responsibility necessary to perform such obligations. Any such holder properly completing such unprovements shall be entitled, upon written request made W the Agency, to a Certificate of Completion from the Agency. Agency and Developer shall cooperate in including in this Agreement by suitable � amendment from time to time any provision which may be requested by any proposed holder of any mortgage, deed of trust or other sxurity interest permitted to be gianted by Developer hereunder, or wluch may otheiwise be reasonably necessary, to provide customary "mortgagee protecrion" provisions to any such holder; provided, however, that any such amendment shall not in any way adversely affect in any material respect any rights of Agency under this Agreement. §514 Failure of Holder to Comolete Imurovements In any case where, six (6) months after notice of default by Developer in completion of construction of impmvements under ttris Agreement, the holder of any mortgage or deed of trust creating a lien or encumbrance upon the Project Site or any part ther�f has not exercised the option to construct, or if it has exercised the option and has not proceeded diligently with construction, the Agency may purchase the mortgage or deed of hust by payment to the holder of the amount of the unpaid mortgage or deed of trust debt, including principal and interest and all other sums secured by the mortgage or deed of trust. If the ownership of the Project Site or any part thereof has vested in the holder, the Agency, if it so desires, shall be entitled to a conveyance of the Pmject Site from the holder to the Agency upon payment to the holder of an amount equal to the sum of the following: A. T'he unpaid mortgage or deed of trust debt at the time title became vested in the holder, including, without limitation, any advances made by the holder to protect the properiy covered by its lien or to pmtect its security interest (less all appmpriate credits, including those resulting from collection and application of rentals and other income received during foreclosure proceedings); B. All expenses with respect to foreclosures and enforcement of the holder's rights and remedies under the mortgage or deed of trust. C. The net expense, if any (exclusive of general overhead), incurred by the holder as a direct result of the subsequent management of the Project Site or part thereof; D. The costs of any improvements made by such holder; and E. An amount equivalent to the interest that would have accrued on the aggregate of such amounts had all such amounts become part of the mortgage or deed of trust debt and such debt had continued in existence to the date of payment by the Agency. §515 Ri¢ht of the Aaencv to Cure Mortsase or Deed of Trust Default In the event of a mortgage or deed of trust default by Developer prior to the issuance of a Certificate of Completion and the holder of any mortgage or deed of trust has not exercised its - option to construct, the Agency, after giving written notice and an opportunity to cure to Developer, may cure the default prior to completion of any foreclosure. In such event, the 27 DOCSSFI :648942.4 '9975-5 C 14 120502