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WESTVIEW HOUSE L (3).P
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WESTVIEW HOUSE L (3).P
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Last modified
7/6/2022 11:57:00 AM
Creation date
7/6/2022 11:54:11 AM
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Contracts
Company Name
WESTVIEW HOUSE L.P
Contract #
A-2022-085
Agency
Community Development
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10.6. Construction Information. From time to time during the course of the <br />construction, within ten (10) Business Days following City's written demand therefore, <br />Developer shall furnish requested reports of project costs, progress schedules and <br />contractors' costs breakdowns for the construction, itemized as to trade description and <br />item, showing the name of the contractor(s) and/or subcontractor(s), and including such <br />indirect costs as real estate taxes, legal and accounting fees, insurance, architects' and <br />engineers' fees, loan fees, interest during construction and contractors' overhead. <br />10.7. Protection Against Liens. Developer shall diligently file a valid Notice <br />of Completion upon completion of the construction, diligently file a notice of cessation in <br />the event of a cessation of labor on the construction for a period of thirty (30) days or more, <br />and take all actions reasonably required to prevent the assertion of claims of lien against <br />the Property. In the event that any claim of lien is asserted against the property or any stop <br />notice or claim is asserted against the City by any person furnishing labor or materials to <br />the Property, Developer shall immediately give written notice of the salve to City and shall, <br />promptly and in any event within ten (10) Business Days after written demand therefor, (a) <br />pay and discharge the same, (b) effect the release thereof by delivering to City a surety <br />bond complying with the requirement of applicable laws for such release, or (c) take such <br />other action as City may reasonably require to release City from any obligation or liability <br />with respect to such stop notice or claim. Nothing in this Section 10.7 shall limit or prohibit <br />Developer's right to contest any claim of lien, stop notice or claim described herein in good <br />faith. <br />10.8. General Contractors who are Related Parties to the Developer. If the <br />Project is developed with general contractors who are Related Parties to the Developer, the <br />Developer must be audited to the subcontractor level by an outside auditing firm approved <br />by the City. The Developer shall pay for the audit to the subcontractor level by an outside <br />auditing finn. <br />Section 11. FEDERAL COVENANTS <br />11.1. The Developer shall carry out the design, construction and operation of the <br />Project, and operate the Program, in conformity with all applicable laws, regulations, and <br />rules of governmental agencies having jurisdiction. <br />11.1.5 Reserved. <br />11.2. Qualification as Affordable Housing. As more particularly provided in <br />the Affordability Restrictions on Transfer of Property, Developer shall use, manage and <br />operate the Property in accordance with the requirements of 24 CFR 92.252 so as to qualify <br />the housing on the Property as Affordable Housing with affordable rents. <br />11.3. Tenant and Participant Protection. Developer shall comply with the <br />requirements of 24 CFR 92.253 <br />11.4. Local Preference. Subject to compliance with applicable California and <br />25 <br />Westview House <br />City Rental Rehabilitation Progmm Loan Agreement <br />
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