Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in HEDRA of title to and/or possession of the Property or any part thereof as provided above, HEDRA shall, pursuant to its responsibilities under law, use its best efforts to sell the Property or part thereof as soon and in such manner as HEDRA shall find feasible to a qualified and responsible party, who will assume the obligation of making or completing Minimum Improvements or such other improvements in their stead as shall be satisfactory to HEDRA in accordance with the uses specified for such parcel or part thereof. During any time while HEDRA has title to and/or possession of a parcel obtained by reverter, HEDRA will not disturb the rights of any tenants under any leases encumbering such parcel. Upon resale of the Property or any part thereof, the proceeds thereof shall be applied:
Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in the Seller of title to and/or possession of the Property or any part thereof as provided in Section 16 of this Agreement, the Seller shall apply the purchase price paid by the Buyer under Section 4 of this Agreement as follows:
Resale of Reacquired Property; Disposition of Proceeds. Upon the re-vesting in City of title to the Property as provided in Section 6.3 of this Agreement, City shall pay to Developer the Purchase Price which Developer paid to City for the Property, less any amount required to provide clear title to the Property, including but not limited to prorated taxes and any mortgages, liens, or other encumbrances.
Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in the Authority of title to and/or possession of the Development Property or any part thereof as provided in Section 9.3, the Authority shall, pursuant to its responsibilities under law, use its best efforts to sell the Development Property or part thereof upon commercially reasonable terms and conditions, subject to any existing Mortgage, as soon and in such manner as the Authority shall find feasible and consistent with the objectives of such law and of the Development Plan to a qualified and responsible party or parties (as reasonably determined by the Authority) who will assume, or if required by the Holder pay in full, any existing Mortgage and assume the obligation of making or completing the Minimum Improvements or such other improvements in their stead as shall be satisfactory to the Authority and in accordance with the uses specified for such Development Property or part thereof in the Redevelopment Plan. Upon such resale of the Development Property, the proceeds thereof shall be applied:
Resale of Reacquired Property; Disposition of Proceeds. Upon the re-vesting in City of title to the Property as provided in Section 7.3 of this Agreement, City shall, pursuant to its responsibility under law, use its best efforts to resell the Property or part thereof as soon and in such manner as City shall find feasible and consistent with the objectives of such law and of the Urban Renewal Plan to a qualified and responsible party or parties (as determined by City in its sole discretion) who will assume the obligation of making or completing Minimum Improvements or such other improvements in their stead as shall be satisfactory to City and in accordance with the uses specified for the Property or part thereof in the Urban Renewal Plan. The proceeds thereof shall be applied:
Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in the EDA of title to and/or possession of the parcel or any part thereof as provided above, the EDA shall, pursuant to its responsibilities under law, use its best efforts to sell the parcel or part thereof as soon and in such manner as the EDA shall find feasible to a qualified and responsible party, who will assume the obligation of making or completing Developer’s Improvements or such other improvements in their stead as shall be satisfactory to the EDA in accordance with the uses specified for such parcel or part thereof. During any time while the EDA has title to and/or possession of a parcel obtained by reverter, the EDA will not disturb the rights of any tenants under any leases encumbering such parcel. Upon resale of the parcel, the proceeds thereof shall be applied:
Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in the Board of title to the Property or any part thereof as provided in Section 704, the Board shall, pursuant to its responsibilities under State and local law, use its best efforts to resell the Property or part thereof (subject to such mortgage liens and leasehold interests as set forth and provided in Section 704) as soon and in such manner as the Board shall find feasible and consistent with the objectives of such laws and of the Urban Renewal Plan to a qualified and responsible party or parties (as determined by the Board) which will assume the obligation of making or completing the Improvements or such other improvements in their stead as shall be satisfactory to the Board and in accordance with the uses specified for such Property or part thereof in the Urban Renewal Plan. Upon such resale of the Property and after the completion of the Improvements, the proceeds thereof shall be applied:
Resale of Reacquired Property; Disposition of Proceeds. A. Upon the revesting in the City of title to the Property or any part thereof as provided in Section 18, City shall use best efforts to resell the Property or part thereof (subject to rights of Permitted Successors) as soon and in such manner as the City shall find feasible and consistent with the objectives of applicable law to a qualified and responsible party or parties (as determined by the City) who will either (a) assume the obligation of making or completing the Project as shall be satisfactory to the City or (b) agree to undertake such other project at the Property as shall meet City’s approval or, alternatively, the Project with such modifications to which City agrees.
Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in City of title to the Property as provided in Section 3.3 of this Agreement, City shall, pursuant to its responsibility under law, use its best efforts, subject to any rights or interests in such property or resale granted to any holder of a First Mortgage, to resell the Property or part thereof as soon and in such manner as City shall find feasible and consistent with the objectives of such law and of the Urban Renewal Plan to a qualified and responsible party or parties (as determined by City in its sole discretion) who will assume the obligation of making or completing Minimum Improvements or such other improvements in their stead as shall be satisfactory to City and in accordance with the uses specified for such the Property or part thereof in the Urban Renewal Plan. Subject to any rights or interests in such property or proceeds granted to any holder of a First Mortgage upon such resale of the Property the proceeds thereof shall be applied:
Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in the City of title to and/or possession of the City Parcels or any part thereof as provided in Section 9.3, the City shall, pursuant to its responsibilities under law, use its best efforts to sell the Parcel or part thereof as soon and in such manner as the City shall find feasible and consistent with the objectives of such law and of the Redevelopment Plan to a qualified and responsible party or parties (as determined by the City) 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 City in accordance with the uses specified for such Parcel or part thereof in the Development Plan. During any time while the City has title to and/or possession of a Parcel obtained by reverter, the City will not disturb the rights of any tenants under any leases encumbering such Parcel. Upon resale of the Parcel, the proceeds thereof shall be applied:
