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Project in its stead or of another project as shall be satisfactory to the Commission and in accordance <br />with the uses specified for such Property or part thereof in the Plan. Upon such resale of the <br />Property, the proceeds shall be applied: <br />First, to reimburse the Commission, on its own behalf or on behalf of the City <br />of South Bend, Indiana, for all costs and expenses incurred by the <br />Commission, including but not limited to: <br />a. salaries of personnel, in connection with the recapture, management, <br />and resale of the Property or part thereof, but less any income derived <br />by the Commission from the Property or part thereof in connection <br />with recapture such management or resale; <br />b. all taxes, assessments, and water and sewer charges with respect to <br />the Property or part thereof, or, in the event the Property is exempt <br />from taxation or assessment or such charges during the period of <br />ownership thereof by the Commission, an amount, if paid, equal to <br />such taxes, assessments, or charges, as determined by the appropriate <br />assessing officials, as would have been payable if the Property were <br />not so exempt; <br />C. any payments made or needed to be made to discharge any <br />encumbrances or liens existing on the Property or part thereof at the <br />time of revesting of title in the Commission or to discharge or prevent <br />from attaching or being made any subsequent encumbrances or liens <br />due to obligations, defaults, or acts of the Developer, its successors or <br />transferees; <br />d. any expenditures made or obligations incurred in making or <br />completing the construction or any part thereof on the Property or <br />part thereof; <br />e. and any amounts otherwise owing the Commission by the Developer <br />and its successor or transferee; and <br />2. Second, to reimburse the Developer, its successor or transferee, up to the <br />amount equal to: <br />a. the sum of the Purchase Price paid by it for the Property (or allocable <br />to the part thereof) and the cash actually invested by the Developer in <br />construction on the Property or part thereof, less <br />b. any gains or income withdrawn or made by the Developer from the <br />Contract or the Property. <br />dms.us.53213138.03 13 <br />