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~~-t)`~57~g Huo.SZOSs 19.59) Pui~wse of redevelopment oP the Property and not for speculation in land . holding. The Redeve)_.per further recognizes that, in view of (a) the importance of the redevelopment of the Property to the general xelfare of the community; (b) the substantial financing and other public aids that have been made available by law and by the Federal and local Governments far the purpose of making such redevelopment possible;. and (c) the fact th,it a transfer of the stock in the Redeveloper or oP a substantial part thereof, or any other act or transaction involving or resulting in a significant change in the ownership or distribution of such stock or with respect to the identity of the parties in control of the Redeveloper or the degree thereof, is for practical purposes a transfer or disposition of the Property rhea owned by the Redeveloper, the qualifications and identity of the Redeveloper, and its stockholders, are of particular concern to the community and the Agency. The Redeveloper further recognizes that it is because of such qualifications and identity that the Agency is entering into the Agreement with the Redeveloper, and, in so doing, is Plarther willing to accept and rely on the obligations of 'the Redeveloper for the faithful performance of all undertakings and covenants hereby by it to be performed without requiring in addition a surety bond or similar undertaking for such performance of all undertakings and cavenaata in the Agreement. SF~, 502. Prohibition Against Transfer of Shares of Stack; Binding U,~an Stockholders Individually. For the foregaing reasons, the Redeveloper represents and agrees far itself, its stockholders, and any successor in interest of itselF and its stockholders, respectively, that; -Prior to completion of the Improvements as certified by the Agency, and without the prior xritten appraval of the Agency, (a) there shall be no transfer by any Party oxnin~; 10 percent or more of the stock in the Redeveloper (which term. shall be deemed for the purposes of this and related provisions to include successors in interest of such stock ar any part thereof or interest «'rein), (b) nor shaii aiy such c~r,-rter suffer any such Transfer to be ~s~ie, (c1 aszr ~:s.ll there be or ouffered to be by the Redeveloper, or b= ary oYne_r_of ~C ge~cent or more of the stock-therein, any other similarly significagt change in the ownership of such stock or in the relative distribution thereof, or with respect to the identity of the parties in control of the Redeveloper or the degree thereof, by any other method or ~Ans, vhethsr by increased capitalization, merger xith another corporation, corporate or other amendments, issuance of additional or new stock or clas$ification of stock, or otherwise. 411th respect to this provision, the 'Redeveloper and the parties signing the Agreement on behalf of the Redeveloper represent that they have the authority of all of its existing stockholders to agree to this provision on their•behalf and to bind them With rarpect thereto. - 8