1062                                 LAWS OF MARYLAND                          [CH. 602

out undue hardship to such families; (2) the urban renewal plan
substantially conforms to the master plan of the municipality as a
whole; and (3) the urban renewal plan will afford maximum oppor-
tunity, consistent with the sound needs of the municipality as a
whole, for the rehabilitation or redevelopment of the urban renewal
area by private enterprise.

(b)  An urban renewal plan may be modified at any time, pro-
vided that if modified after the lease or sale of real property in the
urban renewal project area, the modification may be conditioned
upon such approval of the owner, lessee or successor in interest as
the municipality may deem advisable and in any event shall be
subject to such rights at law or in equity as a lessee or purchaser,
or his successor or successors in interest, may be entitled to assert.
Where the proposed modification will substantially change the urban
renewal plan as previously approved by the municipality, the modi-
fication shall be formally approved by the municipality as in the
case of an original plan.

(c)   Upon the approval by the municipality of an urban renewal
plan or of any modification thereof, such plan or modification shall
be deemed to be in full force and effect for the respective urban
renewal area and the municipality may then cause such plan or
modification to be carried out in accordance with its terms.

6. Disposal of Property in Urban Renewal Area.

(a) The municipality may sell, lease or otherwise transfer real
property or any interest therein acquired for it by an urban renewal
project, for residential, recreational, commercial, industrial, educa-
tional or other uses or for public use, or may retain such property or
interest for public use, in accordance with the urban renewal plan,
subject to such covenants, conditions and restrictions, including cove-
nants running with the land, as it may deem to be necessary or desir-
able to assist in preventing the development or spread of future slums
or blighted area or to otherwise carry out the purposes of this sub-
heading. The purchasers or lessees and their successors and assigns
shall be obligated to devote such real property only to the uses
specified in the urban renewal plan, and may be obligated to comply
with such other requirements as the municipality may determine to
be in the public interest, including the obligation to begin within
a reasonable time any improvements on such real property required
by the urban renewal plan. Such real property or interest shall be
sold, leased, otherwise transferred, or retained at not less than its
fair value for uses in accordance with the urban renewal plan. In
determining the fair value of real property for uses in accordance
with the urban renewal plan, the municipality shall take into account
and give consideration to the uses provided in such plan; the restric-
tions upon, and the covenants, conditions and obligations assumed by
the purchaser or lessee or by the municipality retaining the property;
and the objectives of such plan for the prevention of the recurrence
of slum or blighted areas. The municipality in any instrument of
conveyance to a private purchaser or lessee may provide that such
purchaser or lessee shall be without power to sell, lease or otherwise
transfer the real property without the prior written consent of the
municipality until he has completed the construction of any or all
improvements which he has obligated himself to construct thereon.
Real property acquired by the municipality which, in accordance with