FULL AGENDA PACKET_2021-04-20 - Laserfiche WebLink

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EXHIBIT 3 (g) the creation or imposition ofany mechanics' or maleiahnans' liar or other lion against the Property which might materially akect the property; and/or (h) any material adverse change in the lnancial condition of Dcvclopc - 15.4 Further Assurances. Developer shall execute and acknowledge (or cause to be executed and acknowledged) and deliver to City all dnCLLrnentS, and take all actions, reasonably required by City from time to time to confirm the rights Created or now or herealier intended to be created under the Loan Ductunettt_,; to protect and further die validity, priority and enforceability of the City Deed of Trust; to subject to the Deed of 'I 'rust any property intended by the terms ofany I -can Document(s) to be covered by the City Deed of Trust or otherwise to cant' nut the purposes of the I gran Documents and the transactions contemplated thereunder- Notwithstanding anything to the contrary set forth herein, die Dcvcluper shall have. no Obligation to cxcctuc any doctunent, or take any action, which would (i) change a material term of any Loan Document, (ii) change or impair any material right of Developer and/or (iii) increase the liability of Developer or any partner thereof 15.5 Annual Financial Statements. Dcvcluper shall deliver to City, within one hundred twenty (1?0) days atta.the end of each Calendar Year following issuance of a Certilicate of Completion, (a) it cerlilled public accountant reviewed balance sheet Ior Developer as oI'the end of'such Calendar Year and a certified public acanuttant reviewed statement of profit and loss forDevcloper and for Developer's operations in connection with the Property for such Calendar Year, together with all supporting schedules, (b) a certificate of such certified public accountant that such doatnrents were reviewed by such certified public accountant in accordance with generally accepted accounting principles and otherwise comply with generally accepted accounting principles review requirements, and (c) a certificate of Developers Managing General Partner that such documents: (i) were prepared in accordance with generally accepted accounting principles applied on a consistent basis or in accordance with such other principles or methods as are reasonably acceplable to City, (it) fairly present Developer's financial condition, (in) Show all material liabilities, direct and contingent, and (iv) fairly present the results of Developer's operations. Developer shall also provide the City with any otter annual audit reports i sued by other monitoring agencies upon written request. 15-6 Audits and Access to Records_ Developer agrees that City, the U-S- Departrnent of Housing and Urban Development, the Cornpu-oller General of the United States or any of their authorized representatives shall have the right of access, upon reasonable notice, to any books, documents, papers, Or other records of Developer which are pertinent to this Agreement in order to make audils, examinations, absLraclS, expel"ply or transCipts- Developer will maintain all books and records pertaining to this Agreement fee it period of not less than five (5) year,,, after all matters pertaining to this Agreement (i.e., audit, disputes or litigation) are resolved in accordance with applicable federal or state laws, regulations or policies, and when a period of affordability or recapture applies City Council 35 21 — 39 4/20/2021