Item 16 - Affordable Housing Project at 801, 807, 809 and 809 ½ E. Santa Ana Blvd

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by this reference. 2. SCOPE OF WORK/PROJECT BUDGET 2.1 Scope of Work/Schedule of Performance. A “Scope of Work” and “Schedule of Performance” for the Property is attached hereto as Exhibit F. Except as otherwise permitted by this Agreement, any material change to the Scope of Work/Schedule of Performance requested by the Developer shall be subject to the prior written approval of the City Project Manager except as a result of a Force Majeure Event. The Scope of Work/Schedule sets forth the construction work that shall be performed on the Property and timeframes for approvals of such work, as such may be extended due to Force Majeure Events. 2.2 Project Budget. A line-item budget for the Project, including a summary of statement of sources and uses of funds, is incorporated into Exhibit E ("Project Budget"). Except as otherwise permitted by this Agreement, any material change to the Project Budget requested by Developer shall be subject to the prior written approval of the City Project Manager. 2.3 Force Majeure Events. Notwithstanding specific provisions of this Agreement, performance hereunder shall not be deemed to be in default where delays or defaults are due to: war; terrorism; insurrection; strikes; lock-outs; riots; floods; earthquakes; fires; a Legal Challenge; casualties; acts of God or other deities; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; unusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor or supplier; acts of the other party; acts or failure to act of the Agency or any other Governmental Authority or entity (except that any act or failure to act of Agency shall not excuse performance by Agency); or any other causes beyond the reasonable control, or without the fault of the party claiming an extension of time to perform (each a “Force Majeure Event”). An extension of time for any Force Majeure Event shall be for the period of the enforced delay and shall commence to run from the time the party claiming such extension gives notice to the other party, provided notice by the party claiming such extension is given within thirty (30) days after the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the Agency and the Developer. 3. AGENCY LOAN: 3.1 Agency Loan Documents. The Agency Loan shall be evidenced by the Agency Promissory Note in the form attached hereto as Exhibit D. The Agency Loan shall be secured by the Agency Deed of Trust in the form attached hereto as Exhibit C. The terms and conditions of the Agency Loan are as set forth in the Agency Promissory Note. The Term of Affordability for the Project is fifty-five (55) years from the date of issuance of Certificate of Occupancy for the Project, or repayment of the Agency Loan, whichever is longer. 3.2 Agency Funds. Subject to the terms and conditions of this Agreement, Agency agrees to make a loan to Developer from the Low and Moderate Income Housing EXHIBIT 4