Item 03 - Crossroads at Washington Affordable Housing Project

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3 Housing Authority), and Optionee; and Optionee is unable to obtain any other applicable funding for the environmental cleanup of the Project by the end of February 2022. Optionee shall provide written notice to the Agency and County of the occurrence of the conditions in (a) and (b) above with appropriate supporting documentation. 3.Funding of Environmental Cleanup Costs. Provided the conditions set forth in Section 2 above occurs, Optionor agrees to reimburse Optionee for actual environmental cleanup costs in an amount not to exceed $300,000, and which amount shall be paid equally (i.e., 50/50) by County and Agency on a monthly rolling basis upon submission of environmental cleanup cost draw requests submitted by Optionee to the Optionor. Prior to the payment of such costs by Optionor, Optionee shall provide Optionor any and all necessary invoices, records or reports generated as a part of the environmental cleanup effort and to properly substantiate costs associated with each environmental cleanup draw request. The Agency and County shall make their respective reimbursements to Optionee within forty-five (45) days following receipt of written notice that the condition set forth in Section 2 has occurred and after County and Agency’s receipt of each environmental cleanup draw request and documentation set forth above to the satisfaction of the County and Agency in their reasonable discretion. 4.Optionee Right to Enter Premises for Environmental Cleanup. In addition to Optionee’s right to enter the Premises as set forth in Section 8 of the Option Agreement, Optionee and its Consultants (as defined in the Option Agreement) shall have the right to enter the Premises for the purposes of this Second Amendment, including but not limited to performing environmental cleanup and other services related thereto. 5.Construction Contract Documents. Notwithstanding anything to the contrary contained in Section 5(D.) of the Option Agreement, Optionee shall submit to the Optionor the Construction Contract Documents and cost estimates for development of the Premises no later than eight (8) months from the date on which Optionee elects not to return the FCAA Credits (May 1, 2022). 6.Cleanup Plan. Section 5.G. is hereby added to the Option Agreement as follows: “G. Cleanup Plan. No later than February 28, 2022, Optionee shall have delivered to Optionor a copy of the Cleanup Plan associated with the DTSC Targeted Site Investigation Plus (TSI+) Program (and approved by DTSC) for any environmental cleanup required in connection with construction of the Project.” 7.Successors and Assigns. The terms, covenants, and conditions contained herein shall apply to and bind the heirs, successors, executors, administrators, and assigns of the Parties hereto. EXHIBIT 2