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failure, violation, or cther action or inaction by the Developer <br />specified in this par;;,=aph D the Developer's failure to remedy, <br />cr abrogate such failure, violari on, or other <br />action or lnac.t_on, w_ = _in C :? p-=r-od and in uhe manner stared in <br />such s;:bdivisicr_s, the City at its eption may declare a <br />termination in favor of the Cite of the title, and of all the <br />rights and interest in and to the Property conveyed by the Deed <br />to the Developer, and t_at such title and all rights and <br />interests of the Developer, and any assigns or successors in <br />interest to and in the Property, shall revert to the City; <br />provided, that such condition subsequent and any revesting of <br />title as a result thereof in the City: <br />a. shall always be subject to and limited by, and shall not <br />defeat, render invalid, or limit in any way, (i) the lien <br />of any mortgage authorized by the Agreement, and (ii) any <br />rights or interests provided in the Agreement for the <br />protection of the holders of such mortgages; and <br />b. shall not apply to individual parts of the Property, if <br />any, (or in 'the case of parts leased, the leasehold <br />interest) on which the construction thereon has been <br />completed under the Agreement. <br />E. Extension by City. At any time the City may, in its sole <br />discretion, extend in writing the date by which the construction <br />of the improvements shall be completed. <br />F. Sale of Reacquired Property; Disposition of Proceeds. <br />Upon the revesting in the City of title to the Property or any <br />part thereof as provided in paragraph D above, the City shall, <br />pursuant to its responsibilities under State law, use its best <br />efforts to resell the Property or part thereof (subject to such <br />mortgage liens and leasehold interests as set forth in paragraph <br />D above) as soon and in such manner as the City shall find <br />feasible and consistent with the objectives of State law and of <br />the Plan to a qualified and responsible party or parties (as <br />determined by the City) who will assume the obligation of making <br />or completing the construction of the Project in its stead or of <br />another project as shall be satisfactory to the City and in <br />accordance with the uses specified for such Property or part <br />thereof in the Plan. Upon such resale of the Property, the <br />proceeds shall be applied: <br />1. First, to reimburse the City, on its own behalf or on <br />behalf of the City, for all costs and expenses incurred by <br />the City, including but not limited to: <br />a. salaries or personnel, in connection with the <br />recapture, management, and resale of the Property or <br />part thereof, but less any income derived by the City <br />