TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS)

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litigation relevant to the Loan Agreement, whichever is later. The City, the State, and/or their representatives shall have unrestricted reasonable access to all locations, books, and records for the purpose of monitoring, auditing, or otherwise examining said locations, books, and records with or without prior notice. (3) If so directed by the City upon termination of the Loan Agreement, Developer shall cause all records, accounts, documentation and all other materials relevant to the work to be delivered to the City, as depository. (4) All records, accounts, documentation and other materials relevant to the Project shall be accessible at any time to the authorized representatives of the City on reasonable prior notice, for the purpose of examination or audit. (5) The City shall perform an annual audit at the close of each Calendar Year in which these Restrictions are in effect. Developer shall reasonably cooperate with City in performing such audit. (6) Developer shall permit the City to perform an Annual Physical Inspection of the Property with at least ten (10) Business Days notice. Developer shall cooperate with this Inspection and shall take all steps necessary to quickly correct any code deficiencies identified during the Inspection. F. If there is a discrepancy between local, state and federal law with regard to any of the aforementioned covenants, the more stringent shall apply. G. The City is the beneficiary of the terns and provisions of these Restrictions and the covenants herein, both for and in its own right and for the purposes of protecting the interests of the community and other parties, public or private, for whose benefit these Restrictions and the covenants running with the land have been provided. The City shall have the right if the covenants are breached, to exercise all rights and remedies, and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breaches to which they or any other beneficiaries of these Restrictions and covenants are entitled. H. The covenants and agreements contained herein shall run with the land and shall remain in effect for the term of the Agreement. Upon the sale, conveyance or other transfer of the Property (a 'Transfer") and the assumption of the obligations hereunder by a transferee, Developer's liability for performance shall be terminated as to any obligation to be perfonned hereunder after the date of such Transfer. I. Upon a Transfer of the Property, the transferee will be obligated to meet with the City prior to closing of the Transfer to review the terms of these Restrictions and requirements of the transferee therein. Any failure of transferee to meet with the City as required would constitute a default under these Restrictions. 16