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In (c) The City has no obligation to approve any plans for development of a portion of the Development Property the foreclosing mortgagee (or mortgagee obtaining a deed in lieu of foreclosure) owns or to issue any related building permits. 'Che purpose of this Section is to permit a foreclosing lender (or mortgagee obtaining a deed in lieu of foreclosure) to hold title to the portion of the Development Property it acquires through foreclosure or deed in lieu of foreclosure, without liability, until it can sell the property it holds to a third party who will assume the obligations of the Developer under the terms of this Agreement and proceed with the Development of the Development Property pursuant to the terms of this Agreement. If, rather than passively holding title to the portion of the Development Property it acquires through foreclosure or deed in lieu of foreclosure, the foreclosing lender (or mortgagee obtaining a deed in lieu of foreclosure) or other purchaser at a foreclosure sale desires to sell portions of the Development Property for continuation of the Development, the purchaser at the foreclosure sale (or mortgagee obtaining a deed in lieu of foreclosure) must assume and perform each of the obligations of the Developer, or the applicable successor to the interest of the Developer, under this Agreement. This Section does not restrict the authority of the Authority to pursue its rights under any outstanding security, exercise remedies otherwise available under this Agreement or suspend the performance of its obligations under this Agreement as otherwise allowed. 'rhe Authority agrees to reasonably cooperate with any foreclosing lender (or mortgagee obtaining a deed in lieu of foreclosure) or other purchaser at a foreclosure sale in pursuing the Development in accordance with this Agreement, including approval of such person as a successor to the rights of the Developer hereunder and taking appropriate actions to allow the benefits and rights hereunder to be realized by such person. Section 10.4 Defaults Under Mortgage. "rhe Developer will use its best efforts to obtain an agreement from any mortgagee under a mortgage on the Development Property (a "Mortgage") that, in the event the Developer is in default under any Mortgage, the mortgagee, within ten (10) days after it becomes aware of any default and prior to exercising any remedy available to it due to such default, will notify the Authority in writing of (i) the fact of default; (ii) the elements of default; and (iii) the actions required to cure the default. If, within the time period required by the Mortgage, the Authority cures any default under the Mortgage, the mortgagee will pursue none of its remedies under the Mortgage based on such default. Section 10.5 Subordination Agreement. In order to facilitate the obtaining of financing for the construction of the Minimum Improvements, the Authority agrees to execute a subordination agreement in form and substance acceptable to the Authority to subordinate the provisions of this Development Agreement to the documents executed in connection with the Construction Loan. ARTICLE XI INSURANCE Section 11.1 Insurance. (a) The Developer shall obtain and continuously maintain insurance on the Development and, from time to time at the request of the Authority, furnish proof to the Authority that the premiums for such insurance have been paid and the insurance is in effect. The insurance coverage described below is the minimum insurance coverage that the Developer 24