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Property; and (b) Buyer has commenced the construction of the footings and foundations for the "Minimum Improvements." For purposes of this Agreement the term "Minimum Improvements" means not less than 75 units of assisted living and memory care apaitinents meeting the design framework outlined for the zoning district in which the Property is located. Seller agrees that Seller will, at Buyer's request, subject Seller's future interest in the Property pursuant to the right of reverter to the lien of mortgage granted by Buyer to secure the repayment of a loan, the proceeds of which Buyer is obligated to use to acquire or construct improvements on the Property provided the holder of the mortgage acknowledges, in writing both for itself and any successor's in title to the mortgage, that if Seller enforces the right of reverter and obtains a District Court Order re -vesting title to the Property in Seller prior a foreclosure of the mortgage and the expiration of the applicable redemption period provided for in Minnesota Statutes Sections 580 and 581, as applicable, Seller is entitled to redeem the Property from foreclosure, as an owner. The Right of Reverter will provide that if Buyer's commencement or completion of the "Minimum Improvements" is delayed as a direct result of an act of God, other than weather related conditions or events that are reasonably foreseeable both in terms of the likelihood of their occurrence and their severity; war; riots; or civil disorder; labor strikes or labor shortages; shortages of necessary materials; or litigation commenced by third parties that, either by injunction or other similar judicial action or by the exercise of reasonable discretion, directly results in delays and if Buyer notifies Seller of the condition within fourteen (14) days of its onset, the commencement date and completion date set forth in the Right of Reverter shall be extended for a number of days equal to the delay directly caused by such condition. (D) Any defects in the marketability of Seller's title to the Property that are identified as exceptions in the commitment for title insurance that Seller, in its capacity as "Optionor" delivered to Buyer, in its capacity as Optionee, pursuant to the terms of the Option Agreement unless, prior to Buyer's exercise of the Option set forth in the Option Agreement, Seller and Buyer amend the Option Agreement to obligate Seller to eliminate one or more of those exceptions prior to Closing, in which case any exception which Seller is obligated to eliminate shall not be deemed a Permitted Encumbrance. C-4 4937063v3