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81--UU573° SEC. 303. Evidence of Equity Capital and Mortgage Financing, Na later titan the time specified therefor in Paragraph (e), Section 5 of-Part 1 hereof, the Redeveloper shall suhmit to the Agency evidence satisfactory to the Agency that the Redeveloper has the equity capital and commitments for mortgage financing necessary for the construction of Che Improvements. SEC. 304. Approvals of Construction Plans and Evidence of Financing. As Conditions Precedent to Conveyance. The submission of Construction Plans aad their approval by the Agency as provided- in Section 301 herea£, and Che submission of evidence of equity capital and commitments for mortgage financing as provided in Section 303 hereof, are conditions precedent to the obligation of the Agency to convey the Pzopecty to the Redeveloper. SEC. 305 Commencement and Completion of Construction of Improvements. The Redeveloper agrees for itself, i.ts successors and assigns, and every successor in interest to the Property, or any part thereof, and the Deed shall contain covenants on the part of the Redeveloper fox itself and such successors and assigns, that the Redeveloper, aad such successors and assigns, shall promptly begin and deligentiy prosecute to completion the redevelopment of the Property through the construction of the Improvements thereon, and that such construction shall in any event be begun within the period specified in Bastian 4 of Part 1 hereo€ and be completed within the period specified in such Section 4. It is intended and agreed, and the Deed shall so expressly provide, that such agreements and covenants sha12 be covenants running with the land and Chat they shall, in any event, and without regard to technical classification or designation, legal or otherwise, and except only as otherwise specifically provided in the Agreement itself, be, to-the fullest extent permitted by law and equity, binding far the benefit of the community and the Agency and enforceable by the Agency against the Redeveloper and its successors and assigns to or of the Property or any part thereof or sny interest therein. 4 -