Common use of Mortgagee Not Obligated to Construct Clause in Contracts

Mortgagee Not Obligated to Construct. Notwithstanding any other provision of this Agreement, including those that are or are intended to be covenants running with the land, a Mortgagee, including any Person who obtains title to all or any portion of or any interest in the Project, the Property or any Portion as a result of foreclosure proceedings, or conveyance or other action in lieu thereof, or other remedial action, including (a) any other Person who obtains title to the Property or any Portion from or through such Mortgagee or (b) any other purchaser at foreclosure sale, shall in no way be obligated by the provisions of this Agreement to Commence Construction or Complete Construction. Nothing in this Section 13.3 or any other provision of this Agreement shall be deemed or construed to permit or authorize any Mortgagee or any other Person to devote all or any portion of the Property to any uses, or to construct any improvements, other than uses and improvements consistent with this Agreement and the other Redevelopment Requirements.

Mortgagee Not Obligated to Construct. Notwithstanding any other provision of this Agreement, including those that are or are intended to be covenants running with the land, a Mortgagee, including any Person who obtains title to all or any portion of or any interest in the Project, Project or the Property or any Portion Project Site as a result of foreclosure proceedings, or conveyance or other action in lieu thereof, or other remedial action, including (a) any other Person who obtains title to real property in the Property Project Site or any Portion such portion from or through such Mortgagee or (b) any other purchaser at foreclosure sale, shall in no way be obligated by the provisions of this Agreement to Commence Construction or Complete Construction. Nothing in this Section 13.3 18.3 or any other provision of this Agreement shall be deemed or construed to permit or authorize any Mortgagee or any other Person to devote all or any portion of the Property Project Site to any uses, or to construct any improvements, other than uses and improvements consistent with this Agreement and the other Redevelopment Requirements.