Owner’s Resale Sample Clauses

Owner’s Resale. If title to the Property shall revest in Owner in accordance with the provisions of Section 8.4, Owner may, at its option, bring the improvements to a state of completion deemed by Owner as reasonably necessary to protect the improvements from the elements or other dangers, and shall use its best efforts consistent with prudent business practices and generally in accordance with the terms of this Agreement to resell the Property at a reasonable price (subject to such mortgage liens and leasehold interests as hereinbefore set forth) as soon and in such a manner as Owner shall finds feasible and consistent with the objectives of this Agreement to a qualified and responsible party or parties (as determined by Owner in their sole discretion) who will assume the obligation of making or completing the improvements or such other improvements in their stead as shall be satisfactory to Owners. This remedy is not intended to prohibit Owner from making more extensive improvements in furtherance of the Project should the Property revest in Owner. Upon any resale, the proceeds thereof shall be applied as follows:
Sample 1
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Related to Owner’s Resale

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