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2. shall not apply to individual parts of the Property, if any, (or in the case of parts sold or leased, the part so conveyed) on which the construction thereon has been completed under the Contract. E. Resale of Reacquired Property; Disposition of Proceeds. Upon the reverting in the Commission of title to the Property or any part thereof as provided in Subsection D, above, the Commission shall, pursuant to its responsibilities under State law, use its best efforts to resell the Property or part thereof (subject to such mortgage liens and other interests as set forth in Subsection D above) as soon and in such manner as the Commission shall find feasible and consistent with the objectives of State law and of the Plan to a qualified and responsible party or parties (as determined by the Commission) who will assume the obligation of making or completing the construction of the Project in its stead or of another project as shall be satisfactory to the Commission and in accordance with the uses specified for such Property or part thereof in the Plan. Upon such resale of the Property, the proceeds shall be applied: First, to reimburse the Commission, on its own behalf or on behalf of the City of South Bend, Indiana, for all costs and expenses incurred by the Commission, including but not limited to: a. salaries of personnel, in connection with the recapture, management, and resale of the Property or part thereof, but less any income derived by the Commission from the Property or part thereof in connection with recapture such management or resale; b. all taxes, assessments, and water and sewer charges with respect to the Property or part thereof, or, in the event the Property is exempt from taxation or assessment or such charges during the period of ownership thereof by the Commission, an amount, if paid, equal to such taxes, assessments, or charges, as determined by the appropriate assessing officials, as would have been payable if the Property were not so exempt; C. any payments made or needed to be made to discharge any encumbrances or liens existing on the Property or part thereof at the time of revesting of title in the Commission or to discharge or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, defaults, or acts of the Developer, its successors or transferees; d. any expenditures made or obligations incurred in making or completing the construction or any part thereof on the Property or part thereof; e. and any amounts otherwise owing the Commission by the Developer and its successor or transferee; and 13