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2. If the Developer furnishes evidence reasonably satisfactory to the Commission that, after and despite reasonably diligent effort for a period of sixty (60) days after the date of this Contract, it has been unable to obtain mortgage financing for the Project on a basis and on terms that would generally be considered satisfactory by builders or contractors for construction of the nature and type of the Project, the Developer shall, after having submitted such evidence and if so requested by the Commission, continue to make diligent efforts to obtain such financing for a period of sixty (60) days after such request. If the Developer fails to obtain financing after efforts listed above, then the Contract shall, at the option of the Commission or the Developer, be terminated by written notice thereof to the other party, and neither the Commission nor the Developer shall have any further rights against or liability to the other under the Contract. C. Termination by Commission Prior to Conveyance. In the event that: prior to conveyance of the Property to the Developer and in violation of the Contract: a. the Developer (or successor in interest) assigns or attempts to assign the Contract or any rights therein or the Property, or b. there is any change in the ownership of the Developer or with respect to the identity of the parties holding partnership interest in the Developer or the degree thereof, which the Commission reasonably has refused to approve; or 2. the Developer does not submit reasonably satisfactory architectural and site plans, or evidence of necessary equity capital and mortgage financing, in satisfactory form and in the manner and by the dates respectively provided in the Contract therefore; then the Contract and any rights of the Developer in the Contract and the Property shall, at the option of the Commission, without need of the consent of the Developer, be terminated: Provided, however, that with respect to any default or failure referred to in subdivisions 1 or 2 of this Section IX, Subsection C, a period of thirty (30) days shall be given to cure such failure or default after the date of written demand by the Commission shall be given to cure such failure or default. D. Revestinp, Title in Commission upon Happening _of Event Subsequent to Conveyance to Developer. If, subsequent to conveying any part of the Property to the Developer and prior to completion of the Project as certified by the Commission: 11