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limitations contained in this Grant Deed shall defeat or render invalid or in any way impair <br />the lien or charge of any mortgage, deed of trust or other financing or security instrument <br />permitted by the DDA; provided, however, that any successor of Grantee to the Property <br />and Improvements shall be bound by such remaining covenants, conditions, restrictions, <br />limitations and provisions, whether such successor's title was acquired by foreclosure, deed <br />in lieu of foreclosure, trustee's sale or otherwise. <br />8. The covenants contained in Sections 2, 3, 4, and 5 of this Grant Deed, without <br />regard to technical or legal classification or designation specified in this Grant Deed or <br />otherwise, shall to the fullest extent permitted by law and equity, be binding upon Grantee <br />and any successor in interest to the Property and Improvements or any part thereof, for the <br />benefit of Grantor, and its successors and assigns, and such covenants shall run in favor of <br />and be enforceable by the Grantor and its successors and assigns for the entire period <br />during which such covenants shall be in force and effect, without regard to whether the <br />Grantor is or remains an owner of any land or interest therein to which such covenants <br />relate. In the event of any breach of any of such covenants, the Grantor and its successors <br />and assigns shall have the right to exercise all rights and remedies available under law or in <br />equity to enforce the curing of such breach. <br />9. Subject to and in accordance with the procedures and provisions of Section <br />9_8 of the DDA, the Grantor shall have the right, at its option, to re-enter and take <br />possession of the Property, or portion thereof, with all Improvements thereon, and revest in <br />the Grantor the estate conveyed to the Grantee, in the event of a default arising under <br />Section 9.8 of the DDA. Subject to and in accordance with the procedures and provisions <br />of Section 9.9 of the DDA, the Grantor shall have the right, at its option, to repurchase and <br />take possession of the Property, or portion thereof, with all Improvements thereon, and <br />revest in the Grantor the estate conveyed to the Grantee, in the event of a default arising <br />under Section 9.9 of the DDA. Grantor's rights under Section 9.8 and Section 9.9 of the <br />DDA automatically terminate upon completion of the Project. <br />The Grantor shall have the right to institute such actions or proceedings as it may <br />deem desirable to effectuate the purposes of this Section 9. Any delay by the Grantor in <br />instituting or prosecuting any such actions or proceedings or otherwise asserting its rights <br />hereunder shall not operate as a waiver of or limitation on such rights, nor operate to <br />deprive Grantor of such rights, nor shall any waiver made by the Grantor with respect to <br />any specific default by the Grantee, its successors and assigns, be considered or treated <br />as a waiver of Grantor's rights with respect to any other default by the Grantee, its <br />successors and assigns, or with respect to the particular default except to the extent <br />specifically waived. <br />10. In the event there is a conflict between the provisions of this Grant Deed and the <br />DDA, it is the intent of the parties that the DDA shall control. <br />11. This Grant Deed may be executed in counterparts, each of which shall be an original <br />and all of which taken together shall constitute one and the same instrument. <br />SIGNATURES ON FOLLOWING PAGES <br />