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(f)any material default by Grantee or any other party under any Senior Loan <br />document, or the receipt by Grantee of any notice of default under any Senior Loan document; <br />(g)the creation or imposition of any mechanics' or materialmans' lien or <br />other lien against the Property which might materially affect the Property, which is not bonded <br />over or released; and/or <br />(h)any material adverse change in the financial condition of Grantee. <br />11.3 Further Assurances. Grantee shall execute and acknowledge (or cause to be <br />executed and acknowledged) and deliver to City all documents, and take all actions, reasonably <br />required by City from time to time to confirm the rights created or now or hereafter intended to <br />be created under this Agreement. <br />11.4 Default on Senior Loan. Grantee shall not default on any of the Senior Loan <br />Documents, provided however, that Grantee shall have such period as is provided in the Senior <br />Loan Documents during which to effectuate a cure. <br />11.5 Sale or Lease of Property. Grantee shall not sell, lease (other than to qualified <br />renters meeting the requirements set forth in this Agreement), sublease or otherwise transfer all <br />or any part of the Property or any interest therein without the prior written consent of the City <br />Project Manager, which consent may be withheld in the City Project Manager's sole discretion. <br />In connection with the foregoing consent requirements, Grantee acknowledges that City relied <br />upon Grantee's particular expertise in entering into this Agreement and continues to rely on such <br />expertise to ensure the satisfactory completion of the construction. <br />12.CERTIFICATE OF COMPLETION <br />Upon satisfactory completion of the construction and upon the request of Grantee, or at its <br />own election, the City shall issue a Certificate of Completion. Such Certificate of Completion <br />shall be, and shall so state, conclusive determination of satisfactory completion of the <br />construction. The Certificate of Completion may be issued in the form of the Certificate of <br />Occupancy or Final Inspection Notice from the City. <br />If City declines to furnish a Certificate of Completion after written request from Grantee, the <br />City Project Manager shall, within thirty (30) days after receipt of the request, provide Grantee with <br />a written statement of the reasons therefore. The statement shall contain a description of the action <br />Grantee must take to obtain a Certificate of Completion. If the reason therefore is that the Grantee <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 />13.INDEMNIFICATION <br />13.1 Nonliability of City. Grantee acknowledges and agrees that: <br />EXHIBIT 2