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10 419290v2 LN140 -109 this Agreement, or to enforce performance and observance of any obl igation, agreement, or covenant under this Agreement. (d ) Enforce the specific performance of this Agreement, which action must be commenced within one (1) year of the date of failure of a party to consummate the transactions contemplated herein. 1 5 .3. Revesting Title in EDA Upon Happening of Event Subsequent to Conveyance to Developer . In the event that, subsequent to conveyance of the Property to the Developer and prior to the issuance of the Certificate of Completion: (a) subject to Unavoidabl e Delays, the Developer fails to carry out its obligations with respect to the construction of the Minimum Improvements (including the nature and the date for the completion thereof), or abandons or substantially suspends construction work, and any such fa ilure, abandonment, or suspension shall not be cured, ended, or remedied within thirty (30) days after written demand from the EDA to the Developer to do so; or (b) subject to Unavoidable Delays the Developer fails to cure any default under this Agreeme nt within 30 days after receipt of notice of Event of Default. Then the EDA shall have the right to re -enter and take possession of the Property and to terminate and revest in the EDA the estate conveyed pursuant to the Deed to the Developer, it being t he intent of this provision, together with other provisions of the Agreement, that the conveyance of the Property to the Developer shall be made upon, and that any instrument conveying title from the EDA to the Developer of the Property shall contain a con dition subsequent to the effect that in the event of any default on the part of the Developer and failure on the part of the Developer to remedy, end, or abrogate such default within the period and in the manner stated in such subdivisions, the EDA at its option may declare a termination in favor of the EDA of the title, and of all the rights and interests in and to the Property conveyed to the Developer, and that such title and all rights and interests of the Developer, and any assigns or successors in int erest to and in the Property, shall revert to the EDA. 1 5 .4. Resale of Reacquired Property; Disposition of Proceeds . Upon the revesting in the EDA of title to and/or possession of the Property as provided in Section 15 .3, the EDA shall, pursuant to it s responsibilities under law, use its best efforts to sell the Property or part thereof as soon and in such manner as the EDA shall find feasible and consistent with the objectives of such law and of the Development Plan to a qualified and responsible part y or parties (as determined by the EDA) who will assume the obligation of making or completing the Minimum Improvements or such other improvements in their stead as shall be satisfactory to the EDA and in accordance with the uses specified for the Property . Upon such resale of the Property, the proceeds thereof shall be applied: