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Upon revesting in the Agency of title, the Agency shall promptly use its best efforts to resell the Property consistent with its obligations under state law. Upon sale the proceeds shall be applied as follows: (a) First, to reimburse the Agency or the City of San Leandro for any costs it incurs in managing or selling the Property including but not limited to amounts to discharge or prevent liens or encumbrances arising from any acts or omissions of Developer; (b) Second, to the Developer up to the sum of the amount paid to the Agency for the Property and the reasonable cost of the Improvements Developer has placed on the portion of the Property reverting to the Agency; and (c) Any balance to the Agency. The rights of the Agency pursuant to this Section 7.01 shall be set forth in the Grant Deed. 7.02 Construction Plans. If the Agreement is terminated pursuant to Section 6.04 of this Part, Developer shall deliver to the Agency copies of any development or construction plans Developer has had prepared for the Improvements on the Property. Developer does not warrant or guarantee the correctness or usability of any plans delivered to the Agency. 7.03 Rights of Mortgagees. Any rights of the Agency under this Article Seven shall not defeat, limit or render invalid any lease, mortgage, deed of trust or any other security interest permitted by this Agreement or any rights provided for in this Agreement for the protection of holder of security interests in the Property. Disposition and Development Page 18 of 30 Agreement - Vanuatu Properties Draft December 4, 1997