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~I--•.~573~ HUa.b2C98 (9.69) similar lien instrument, it proposes to enter into with respect to the Property, or any part thereof, and in any event it shall promptly notify Ilse Agency of any encumbrance or lien that has been created on ar attached to the Property, whether by voluntary act of the Redeveloper or otherwise. For the purposes of such mortgage financing as may be made pursuant to the Agreement, the Property may, at the option of the Redeveloper (or successor in interest), be divided into several parts or parcels, provided that such subdivision, in the opinion of the Agency, is not inconsistent with the purposes of the Urban Renewal Plan and the Agreement and is approved iu writing by the Agency. SEC. 602. •Mortgagee Not Obligated To Construct. Notwithstanding any of the provisions ci the Agreement, including but not limited to those which are or are intended to be covenants running with the land, the holder of any mortgage authorized by the Agreement (including any such holder who obtains title to the Property or any part thereof as a result of foreclosure proceedings, or action in lieu thereof, but not including (a) any other party who thereafter obtains title to the Property or such part from or through such holden or (b) any other purchaser at foreclosure sale other than the holder of the mortgage itself) shall in no wise be obligated by the provisions of the Agreement to construct or complete the Improvements or to guarantee such construction or completion; nor shall any covenant or any other provision in the Beed be construed to so obligate such holder: Provided, That nothing in this Section or any other Section or provision of the Agreement shall be deemed or construed t.o permit or authorize any such holder to devote the Property or spy gart thereof to any uses, or to construct any improvements thereon, other than those uses or improvements grovided or permitted is the i7rban Renewal Plan and in the Agreement. SEC. 603. Copy of Notice of Befault to Mortgagee. Whenever the Agency shall deliver any notice or de.~nand to the Redeveloper with respect to any breach or default by the Redeveloper in its obligations or covenants under the Agreement, the Agency shall at the same time forward a copy of such notice or demand to each holder of any mortgage authorized by the Agreement at the last address of such holder shown in the records of the Agency. SEC. 60~. Mort= e's tiara To Cure llefauits. After any breach or default referred to in S•:ction Q3 hereof, each such holder shall {insofar as the rights of the Agency arE concerned) has-e the right, at its option, to-cure or remedy such breach or default (or such breach or defeuit to the extent that it relates to the gart of the Property covered by its mortgage) and to ado lira cost thereof to rise mortgage debt and the lien oz its mortgage: Provided, That ii the breach or default is with respect to construction of the Improvements, nothing contained in this Section or any other Section of the Agreement shall be deemed to permit or authorize such balder, either before or after foreclosure or action in lieu thereof, to undertake or continue the construction or completion of the Improvements (beyond the extent necessary to conserve or protect Improvements or construction already made) without first having expressly assumed the obligation to the Agency, by written agreement satisfactory to the Agency, to complete, in the manner provided in the Agreement, the Imgroveroents on - 12