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property (land and improvementS) remained the same as-the assessed <br />valuation of said property (land and improvements) on the let day of <br />January of the calendar year in which the Investor acquired title to <br />the property. <br /> <br /> (4) In the event of the sale or other disposition by the investor <br /> <br />of real property <br /> <br />Section 353.110 <br />foreclosure of <br />bankruptcy proceedings, <br />jurisdiction, by voluntary <br />such real property shall <br /> <br />to which the ad valorem tax abatement benefits of <br />R.S.Mo., 1978, apply, whether by reason of the <br />any mortgage or other lien, through insolvency or <br />by order of any court of competent <br />transfer or otherwise and the purchaser of <br />continue to use, operate and maintain such <br /> <br />real property in accordance with the uses of the Development Plan, said <br /> <br />property shall continue to <br />Section 353.110 R.S.Mo., <br />period upon approval by the <br /> <br />receive the partial tax relief provided in <br />1978, the remainder of the tax abatement <br />City Council. If such real property shall <br /> <br />be used for a use different than that described in the Development <br />Plan, or in the event that the purchaser does not desire the <br />to continue under the Development Plan, the <br />assessed for ad valorem taxes upon the full <br />property and improvements at that time. <br /> <br />M. MODIFICATIONS TO THE DEVELOPMENT PLAN. <br /> <br /> The UCRC may depart from the Development Plan by making minor <br />modifications. Any substantial modification of the project. however, <br />must be approved by the University City City Council. <br /> <br /> property <br />real property shall be <br />true value of the real <br /> <br />-8- <br /> <br /> <br />