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(E) A reservation of a right of reverter in favor of Seller <br />pursuant to which title to the Property will revert to and re- <br />vest in Seller if (i) Buyer defaults in the performance of <br />Buyer's obligations under a mortgage to which Seller has <br />subjected its rights under this right of reverter and the <br />mortgagee commences proceedings to foreclose the <br />mortgage; or (ii) Buyer fails to substantially complete the <br />construction of the improvements described on the attached <br />Exhibit D on the Property on or before the date two years <br />from the Date of Closing. If Seller is delayed in <br />completing construction of the improvements as a result of <br />acts of God, including, but not limited to, floods, ice <br />storms, blizzards, tornadoes, landslides, lightening and <br />earthquakes (but not including rain, snow or windstorms <br />that constitute reasonably anticipated weather conditions <br />for the geographic area); riots, insurrections, war or civil <br />disorder affected the performance of the work; blockades; <br />power or other utility failures; fires or explosions; labor <br />strikes or labor shortages; or shortages of materials and <br />Buyer promptly notifies Seller of the occurrence of such <br />conditions, the two year period provided for in the <br />preceding sentence shall be extended for a number of days <br />equal to the number of days that the condition persists and <br />a reasonable period for recovery and restoration thereafter. <br />For purposes of the right of reverter, the improvements will <br />be substantially complete when they are eligible for receipt <br />of a certificate of occupancy. To facilitate Buyer's <br />acquisition of financing for the project, Seller will subject <br />Seller's interest under the right of reverter to the lien of a <br />mortgage granted by Buyer to secure the repayment of a <br />loan, the proceeds of which are disbursed to pay costs <br />associated with the development of the Property and the <br />construction of the improvements on the Property; provided <br />the mortgagee acknowledges, in writing, that if Buyer fails <br />to complete the improvements within the time period set <br />forth in the right of reverter or if the mortgagee commences <br />foreclosure proceedings, Seller may exercise the right of <br />reverter and, if the mortgagee has foreclosed or thereafter <br />forecloses, Seller may redeem the Property from <br />foreclosure, as owner, within the time allowed by law; <br />(F) A Master Declaration, if any, that Seller or that Seller and <br />other owners of property within the Plat of Ramsey Town <br />Center execute and record for the purposes of establishing a <br />Master Association to perform certain services within the <br />area subject to the Master Declaration; <br />-3- <br />