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EXHIBIT 3 (h) Title Tnsurance_ City shall have received an LP-10 AT.TA Lender loan policy of title insurance (2006 edition), or evidence of a annrYriunent therefore satisfactory to City, issued by First American Titic lrtaurancc Company and Lit form and substance satisfactory fir City, together with all endorsements and binders required, naming City as the insured, in a policy amount of not less than the City/CDHG Loan Amount, showing Developer as the 1ee owner of the Property and insuring the City/CDBG Dccd ol'Trust to be it valid lien on the Property_ This Agreement, the City/CDBG Loan Note, and City/CDBG Deed of Trust shall be subordinate to caeh Senior Loan Note and each Senior Loan Deed of Trust. (c) Affo-dttbilityResuictionsonTransferofProperty. Developer shall have delivered to the Escrow Holder, in the form atuaehed hereto as Exhibit F, the Af bidabilay Restictions on Transfer ofTitle pursuant to which, among other things, Developer agr'ccs that the Property shall be used only for decent, safe, sanitary and allordable rental housing pw3uam to the a ffordabi lily requirements ol'Code of Federal Regulations (-'CFR") section 92252 , as applicable. (d) Documents Recorded. This Agreement, the City/CDBG Loan Deed Of Trust and the Affordability Restrictions on Transfer of Property shall have been recorded in the Official Records of the County. This Agreement, and the City/CDBG Loan Deed ol'Trust shall be subordinate to each Senior Loan Note and each Senior Loan Dccd ol'Trust. (e) Request for Notice. For the benel it of City. Lwow Holder shall have recorded a request for notice of default of Senior Loan made by JPMorgan Chase Bank, N.A. (the "Request for Notice of Default"). (f) hrsurance. City shall have received evidence satisfactory to the City Attorney that all of the policies of insurance required by Section 19 of this Agreement are in full force and effect. (g) Representations and Warratttics. The representations and warranties of Developer contained in this Agreement and the other Loan Documents shall be correct in all malerial respects as ol'lhe Close ofEscrow as though made on and as of that date, and if requested by the EXCCLItiVe DirtiClor, City shall have received a CCI-LifiCatc to that effect signed by Developer's Representative. (h) No Default. No Event of Default by Developer shall have occurred, and nn event shall have occurred which, with the giving of notice or the passage of time or both, would constitute an Event of Default by Developer Linder this ADreernenl, and it' requested by the Exccutivc Director, City shall have received a certificate to that ctfect signed by Developer's Representative. 62 Dishursement Procedm•es fur Lortn. The Loam proceeds shall be disbursed to Borrower's account aL L11c JPMorgan Chase Ballk, N.A. TO finance the acquisition of the Property, with other proceeds being used for the rehabilitation (as evidenced in Exhibit C). The Loan proceeds shall not he used for any City Council 9 21 — 13 4/20/2021