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EXHIBIT 2 <br />has not provided the City with an acceptable Property Management Plan, Marketing and Resident <br />Selection Plan, or other condition specified in the Regulatory Agreement. <br />If City declines to furnish a Certificate of Completion after written request from Developer, the <br />City Project Manager shall, within thirty (30) days after receipt of the request, provide Developer with <br />a written statement of the reasons therefore. The statement shall contain a description of the action <br />Developer must take to obtain a Certificate of Completion. If the reason therefore is that the Developer <br />has not completed a minor portion of the construction, City may, in its sole and absolute discretion, <br />issue the Certificate of Completion upon the posting with City of a bond or other form of security <br />acceptable to the City Project Manager in the amount of the fair value of the uncompleted work. <br />A Certificate of Completion is not "notice of completion" referred to in Section 3093 of the <br />California Civil Code. <br />14. INDEMNIFICATION <br />14.1 Nonliability of City. Developer acknowledges and agrees that: <br />(a) The relationship between Developer and the City is and shall remain solely <br />that of Developer and grantor. City neither undertakes nor assumes any responsibility to review, <br />inspect, supervise, approve (other than for aesthetics) or inform Developer of any matter in <br />connection with the construction, including matters relating to: (i) the performance of the <br />construction work; (ii) architects, contractors, subcontractors and materialmen, or the <br />workmanship of or materials used by any of them; or, (iii) the progress of the construction; and <br />Developer shall rely entirely on its own judgment with respect to such matters and acknowledges <br />that any review, inspection, supervision, approval or information supplied to Developer by City in <br />connection with such matters is solely for the protection of City, and that neither Developer nor <br />any third party is entitled to rely on it; <br />(b) Notwithstanding any other provision of this Agreement: (i) the City is not a <br />partner, joint venture, alter -ego, manager, controlling person or other business associate or <br />participant of any kind of Developer, and City does not intend to ever assume any such status; (ii) <br />City's activities in connection with the Inclusionary Grant shall not be "outside the scope of the <br />activities of a lender of money" within the meaning of California Civil Code Section 3434, as <br />modified or recodified from time to time, and City does not intend to ever assume any <br />responsibility to any person for the quality or safety of the Property; and, (iii) City shall not be <br />deemed responsible for or a participant in any acts, omissions or decisions of Developer; <br />(c) City shall not be directly or indirectly liable or responsible for any loss or <br />injury of any kind to any person or property resulting from any construction on, or occupancy or use <br />of, the Property, whether arising from: (i) any defect in any building, grading, landscaping or other <br />onsite or offsite improvement; (ii) any act or omission of Developer or any of Developer's agents, <br />employees, independent contractors, licensees or invitees; or (iii) any accident on the Property or <br />any fire or other casualty or hazard thereon; and, <br />19 <br />5 53 94.0010 1 \42414134.1 <br />