CC PACKET 05231989 - Laserfiche WebLink

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Section 8 .3 Transfer of Property and Assignment . Except for reservations or purchase agreements for individual townhouse units , Redeveloper has not made and will not make, or suffer to be made, any total or partial sale, assignment , conveyance, lease, or other transfer, with respect to this Agreement or the Redevelopment Property or any part thereof or any interest therein, or any contract or agreement to do any of the same, without the prior written approval of the HRA, which approval shall not be unreasonably withheld if Redeveloper has completed the Minimum Improvements . The HRA shall be entitled to require as conditions to any such approval that : ( i) the proposed transferee have the qualifications and financial responsibility, as reasonably determined by the HRA, necessary and adequate to fulfill the obligations undertaken in this Agreement by Redeveloper ; ( ii ) the proposed transferee, by recordable instrument satisfactory to the HRA shall , for itself and its successors and assigns , assume all of the obligations of Redeveloper under this Agreement . No transfer of , or change with respect to , ownership in the Redevelopment Property or any part thereof, or any interest therein, however consummated or occurring and whether voluntary or involuntary, shall operate, legally or practically, to deprive or limit the HRA of or with respect to any rights or remedies or controls provided in or resulting from this Agreement with respect to the Redevelopment Property and the construction of the Minimum Improvements that the HRA would have had, had there been no such transfer or change. There shall be submitted to the HRA for review all legal documents relating to the transfer . In the absence of specific written agreement by the HRA to the contrary, no such transfer or approval by the HRA thereof shall be deemed to relieve Redeveloper , or any other party bound in any way by this Agreement or otherwise with respect to the construction of the Minimum Improvements , from any of its obligations with respect thereto . Section 8 .4 Information as to Ownership of Redeveloper . Redeveloper will promptly notify the HRA of any changes in the ownership of Redeveloper , or with respect to the identity of the parties in control of Redeveloper or the degree thereof, of which it has been notified or otherwise had knowledge. Redeveloper shall , at such time or times as the HRA may request , furnish the HRA with a complete statement, subscribed and sworn to by an officer of the Redeveloper , setting forth all of the owners of Redeveloper and the extent of their respective holdings . Section 8 . 5 Termination of Limitations on Transfer . All provisions contained in this Article 8 with respect to limitations on the ability of the Redeveloper to transfer the • -13-