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HUO-#f196 (9-Nt SEC. 306. Progress Reports. Subsequent to conveyance of the Property, or any part thereof, to the Redeveloper, and until construction of the Improvements hen bee., completed, the Redeveloper shall make reports, in such detail and at such times as may reasonably be requested by the Agency, as to the actual progress of the Redeveloper wlth respect to such construction. SEC. 307. Certificate of Completion. . (a) Promptly after completion of the Improvements in accordance with those provisions of the Agreement relating solely to the obligations of the Redeveloper to 'eonst.ruet the Improvements (including the dates for beginning and completion thereof), the Agency will furnish the Redeveloper with an appropriate instrument so certifying. Such certification by the Agency shall be (and it shall be so provided in the Deed and in the certification itself) a conclusive determination of satisfaction and termination of the agreements and covenants in the Agreement and in the Deed with respect to the obligations of the Redeveloper, and its successors and assigns, to construct the Improvements and the dates for the beginning and completion Lherecf; Provfded, That if there is upon the Property a mortgage insured, or held or awned, by the Federal Rousing Administration and the Federal Housing Administration shall have deteznined that all buildings constituting a part of the Improvements and covered by such mortgage ase, in fact, substantially completed in accordance with the Construction Plans and are ready for occupancy, then, ir. such event, the Agency and the Redeveloper shall accept the determination oi' the Federal Housing Administration as to such completion of the construction of the Improvements in accordance with the Construction Plans, and, if the other agreements and covenants in the Agreement obligating the Redeveloper in respect of the construction and completion of the Improvements have been fully satisfied, the Agency shall forthwith issue its certification provided for in this Section. Such certification and such determination shall not constitute evidence of compliance with or satisfa,•~ion of any obligation of the Redeveloper to any holder of a mortgage, or an;~ insurer of a mortgage, securing money loaned to finance the Improvements, ar any part thereof. (b) With respect to such individual parts or parcels of the Property which, if sv provided in Part I h€;reof, the Redeveloper may convey or Iease a4 the i.'sprovements to be c:~nstructed th€reon are completed, the Agency :ill also, a^^n propa..r ~.:•amrletion t,£ the I,~nprovements relating to any such part ar paraal, certify to the Redeveloper that such Improvements have been made in accordance with the provisions of the Agreement. Such certification eha11 mean and provide, and the Deed shall as state, (1) that any party purchasing or leasing such individual part or parcel pursuant to the authorization herein contained shall sot (because of such purchase or lease) incur any obligation with respect to the construction of the Improvements relating to such part or parcel or to any other part or parcel of the Property; and (2) that neither the Agency nor any other party shall thereafter have or be entitled to exercise with respect to any such individual part or parcel so sold (or, in the case of lease, with respect La the leasehold interest} any rights or remedies or controls that it may - 5 -