Deed - E 14th StWashington Ave - File 1120, 1981 pt1

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l u Bb-r'24175 Such right to repurchase, reenter and repossess, to the extent provided in the DDA, shall be subrA mate and subject to, and be limited by and shall not defeat, render invalid, or limit. (a) Any mortgage, deed of ti.-at .)r other security instrument permitted by the DDA; (b) Any rights or interests provided in the DDA for the protection of the holder such mortgages, deeds of trust or other security rnstrumentb The rights established in this paragraph 4 shall not apply to individual parts of the Property on which the improvements to be constructed thereon have been completed in accordance with the DDA, and for which a Certificate of Completion has been recorded therefor as provided in the DDA. S. The Grantor shall have the additional right, at its cpti-M. to reenter and take possessiun of the Property, with all improvements thereon, and revest in the Grantor the estate theretofore conveyed _n *.he Grantee if after conveyance of title and prior to recordation of the Certificate of Completion, the Grantee (or its successors in interest) shall: (a) Fail to proceed with the construction of the improvements as required by the DDA for a perrnd of three months after written notice thereof from the Grantor; (b) Abandon or substantially suspend construction of the improvements for a period of three morthb after written notice of such atar.:,n,nout subL. pion fr�,n the Grantor; (c) Transfer, or suffer any involuntary transfer of the Property, or any part thereof, in violation of the DDA. Such right to reenter, repossess and revest, to the extent provided in this Agreement, shall be subordinate and subject to, and be limited by and shall not defeat, render invalid, or limit: (a) Any mortgage, deed of trust or other security instrument permitted by this Agreement; (b) Any rights or interest provided in this Agreement for the protection of the holder of such mortgages, deeds of trust of other security instruments.