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(d) To the extent any such default specifically relates to the construction of <br />improvements necessary for the Property, Secondary Developer's construction of <br />improvements that are Master Developer's obligations pursuant to the Master <br />Development Agreement shall be deemed a cure of any default of Master <br />Developer relating to such improvements, and the City agrees to accept <br />Secondary Developer's performance as performance by Master Developer. <br />18, Secondary Developer's Rights and Obligations under the Master Development <br />Agreement. In addition to the rights and obligations set forth above, the Secondary Developer's <br />rights and obligations under the Master Development Agreement with respect to the Property <br />shall be as follows: <br />(a) Both the Master Developer and the Secondary Developer shall have the benefit of <br />Section 4.7 of the Master Development Agreement, such that either Master <br />Developer or Secondary Developer may enforce Section 4.7 against the City. <br />Notwithstanding the foregoing, Secondary Developer may enforce Section 4.7 of <br />the Master Development Agreement only with respect to that portion of the <br />Property in which Secondary Developer has rights, either as purchaser or fee <br />owner. So long as Secondary Developer has rights in any portion of the Property, <br />either as option holder or fee owner, both Master Developer and Secondary <br />Developer must consent, in writing, to any requested change to the RTC Controls <br />that affect that portion of the Property. <br />(b) Master Developer is required to deliver security to the City at the times and in the <br />amounts required by the Master Development Agreement, in the form of Letters <br />of Credit or other alternative security deemed acceptable by the City, to secure the <br />performance of Master Developer's obligations under Sections 7.2(c), 7.8(d) and <br />10.1(a) of the Master Development Agreement. Master Developer and the City <br />agree that the security delivered to secure such obligations shall be established <br />separately such that there shall be clearly identified separate security for any <br />obligations that specifically relate to the construction of improvements necessary <br />for any portion of the Property. All of the separate security described above in <br />this subsection delivered by Master Developer to the City that specifically relates <br />to the construction of improvements necessary for the Property shall be <br />collectively called the "Property Security." The City may use the Property <br />Security only to secure Master Developer's obligations that specifically relate to <br />the construction of improvements necessary for the Property. The City's <br />determination of the amount of the Property Security from time to time shall be <br />final and binding on Secondary Developer. Secondary Developer is hereby made <br />a third -party beneficiary with respect to the Property Security. If Master <br />Developer defaults with respect to the performance of any of its obligations <br />secured by the Property Security, the City shall notify Secondary Developer at the <br />same time the City notifies Master Developer, as provided in this Agreement, and <br />Secondary Developer shall have the right, but not the obligations, to cure such <br />default, as also provided in this Agreement. Upon the completion of the cure to <br />12 <br />