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3. the fact that a transfer in ownership of the Developer is, for practical purposes, a transfer or disposition of the Property then owned by the Developer; the qualifications and identity of the Developer and its shareholders, members or partners are of particular concern to the Commission. The Developer further recognizes that it is due to such qualifications and identity that the Commission is entering into this Contract with the Developer and in so doing is further willing to accept and rely on the obligations of the Developer for the faithful performance of all undertakings and covenants. B. Prohibition Against Transfer of Interest. The Developer agrees that any transactions with respect to the equity of the Developer, including any increased capitalization, merger, transfer or transfers of ownership of the outstanding shares of the Developer, or otherwise, which results in the ownership by persons who are not presently shareholders, members or partners of the Developer of 50% or more of the outstanding equity of the Developer at any time prior to the date of issuance of a Certificate of Completion, will constitute a violation of this Contract unless the Commission has given prior written approval to such transfer or transfers, which approval will not be unreasonably withheld. C. Prohibition Against Transfer of Property or Assignment of Contract. The Developer represents and agrees for itself, its successors and assigns, that except for security for obtaining financing needed to enable the Developer to make the improvements under this Contract, and except for any other purpose authorized by this Contract, the Developer has not made or will not make prior to receiving the Certificate of Completion: any total or partial sale, assignment, conveyance, or lease; or 2. any trust or power; or any transfer in any other mode or form, with respect to the Contract or the Property or any part thereof, of any interest therein; or 4. any contract or agreement to do any of the above without prior written approval of the Commission, which approval shall not be unreasonably withheld. This subsection does not prohibit the sale or lease of individual units in the Project. D. Approval of Qualifications Prior to Transfer. The Commission may require as conditions precedent to any approval of transfer or assignment any and all information regarding the qualifications, financial responsibility, legal status, experience, background and any and all other information it deems necessary or desirable in order to achieve and safeguard the purposes of the Act, the Plan, and this Contract. D