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iWa:11:111PA <br />8.7.3. Cash deposited with the City (may be in the form of cashier's check or <br />money order or may be electronically deposited); <br />8.7.4. A completion guaranty, in favor of City from an Affiliate of Developer, <br />in a form reasonably acceptable to City, coupled with a repayment guaranty in favor of the <br />Senior construction Lender for its loan; <br />8.7.5. Any combination of the above. <br />All bonds and letters of credit must be issued by a company qualified to do business in the <br />State of California and acceptable to City. All bonds and letters of credit shall be in a form <br />acceptable to the City's Risk Manager in its reasonable discretion, and shall insure faithful and <br />full observance and performance by Developer of all terms, conditions, covenants, and <br />agreements relating to the construction of improvements within the Property. <br />Developer shall provide or cause its Contractor to provide payment and/or performance bonds <br />in connection with the construction of the Project Improvements, and shall name the City as <br />an additional obligee on, with the right to enforce, any such bonds. <br />9. PROJECT COVENANTS <br />9.1 Local Sourcing Plan. Developer agrees to make a good faith effort to <br />encourage subcontractors and suppliers to hire and procure locally. Prior to issuance of <br />any Building Permit, Developer shall develop and submit to the City a local sourcing plan <br />for the Project targeting, to the extent feasible, the hiring of qualified workers, construction <br />contractors, or the purchasing of goods locally within the City of Santa Ana. <br />9.2 Lead -Based Paint. Developer shall comply with the requirements, as <br />applicable of the Lead -Based Paint Poisoning Prevention Act. <br />9.3 Property Standards. Developer shall cause the Property to meet all <br />applicable local, state and federal codes and ordinances, including zoning ordinances. <br />Developer shall also cause the Property to meet the current edition of the Model Energy <br />Code published by the Council of American Building Officials. <br />9.4 Alternative Transportation and Energy Source, Resource <br />Conservation, and LEED Certification. In recognition of the City's desire to optimize <br />the energy efficiency of the Project, Developer agrees to consult with the Project design <br />team, a CABEC certified 2016 Certified Energy Analyst, a LEED AP Homes (low-rise and <br />mid -rise), LEED AP BD+C (high rise), National Green Building Standard (NGBS) Green <br />Verifier, or GreenPoint Rater (one person may meet both of these latter qualifications) <br />early in the Project design process to evaluate a building energy model analysis and identify <br />and consider energy efficiency or generation measures beyond those required by minimum <br />construction standards. <br />17 <br />