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3. 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 prohibition provided in this subsection does not prohibit the sale or lease of portions of the Project, as contemplated in the Site Plan approved by the Commission and attached to this Contract as Exhibit B. 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. E. No Transfer of Developer's Obligations. Absent specific written agreement by the Commission to the contrary, no transfer or approval by the Commission thereof shall relieve the Developer or any other party bound in any way by the Contract or otherwise with respect to the construction of the improvements and completion of the Project from any of its obligations with respect thereto. F. Information as to Interest. The Developer agrees that during the period between execution of this Contract and the Commission's issuance of the Certificate of Completion, the Developer will promptly notify the Commission of any and all changes in the ownership of shares or partnership interest, or any other act or transaction involving or resulting in any change in the ownership of such interest in the Developer or the relative distribution thereof, of which it or any of its officers have been notified or otherwise have knowledge or information, and which results in the ownership of 50% or more of all outstanding equity of the Developer by persons who are not presently shareholders, members or partners of the Developer. SECTION IX. MORTGAGE FINANCING; RIGHTS OF MORTGAGEES. A. Mortgage and Other Encumbrance of Propert y: Before securing any financing by mortgage or similar lien instrument with regard to any part of the Property, the Developer shall notify the Commission. The Commission understands that any interest it may retain in the Property will be subordinate to the interest of a mortgagee. In addition, the Developer shall promptly notify the Commission of any encumbrance that has been attached to the Property, whether by the Developer's voluntary act or otherwise. For any mortgage financing made under this Contract, the Property may, at the Developer's option, be divided into several parts if such subdivision: dms.us.53213138.03 7