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• Section 3 .6 . This Third Amendment to Redevelopment Contract <br /> and the acquisition of the Subject Premises shall not be deemed <br /> authorization to the Agency- to proceed with the balance of Phase <br /> II and Phase III property as set forth in 4 . 5 (c) , 4 . 5 (d) or <br /> Schedule D, Time Table , of the Redevelopment Contract. <br /> Section 3.7. Upon substantial completion of the construction <br /> of Building B, the assessed values of the Minimum Improvements <br /> for Building B shall be Two Hundred Ninety One Thousand Three <br /> Hundred Dollars ($291 ,300 . 00) , and Walker agrees to execute an <br /> Assessment Agreement with terms acceptable to Walker , setting <br /> forth a market value resulting in the above assessed value . <br /> Schedule B-1 (Assessed Values of Minimum Improvements) to the <br /> Redevelopment Contract as pertains to Phase II only is hereby <br /> amended to reflect only as total assessed value for Phase II, the <br /> amount of One Million Six Hundred Fifty Five Thousand Two Hundred <br /> Dollars ($1,655,200. 00) . <br /> Section 3 . 8. The provisions of Sections 7.1 and 10.8 (b.) of <br /> the Redevelopment Contract shall be modified so as to extend the <br /> time period required for a mortgage commitment for Building B (to <br /> a date not later than November 1 , 1985 , ) in order to be in <br /> compliance with the procedures of HUD under 202 financing to <br /> issue an appropriate mortgage commitment. <br /> Section 3 . 9 . Nothing in Section 8 . 2 of the Redevelopment <br /> Contract shall be deemed to prevent Walker from transferring its <br /> interest in the Subject Premises to a corporation controlling, <br /> controlled by or under common control with Walker. <br /> -11- <br />