6B(4) - Laserfiche WebLink

Home Browse Search

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 he above without prior written 1 4. any contract or agreement to do any oft p approval of the Commission, which approval shall not be unreasonably withheld. 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 parry 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 j 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. y SECTION VIII. RESERVED. SECTION IX. REMEDIES. A. In General. Except as otherwise provided in the Contract, upon any default in or breach of the Contract by either party or any successor to such party,such parry(or successor),upon written notice from the other, shall proceed immediately to cure or remedy such default or breach within thirty(30) days after receiving the notice. If action is not taken or not diligently pursued or the default or breach is not cured or remedied within a reasonable time, the aggrieved party may institute proceedings necessary or desirable in its opinion to cure and remedy the default or breach, including,but not limited to,proceedings to compel specific performance by the party in default or breach of its obligations. B. Termination by Developer Prior to Conveyance. If the Commission does not tender conveyance or possession of the Property in the manner and condition and by the date provided in the Contract, and any such failure is not cured within forty-five (45) days after the date of written demand by the Developer,the Contract shall be terminated at the option ofthe Developer,by written 7 9