ILLUMINATION FOUNDATION (40) - Laserfiche WebLink

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(iv) A completion guaranty, in favor of City from an Affiliate of Grantee, in a form reasonably acceptable to City, coupled with a repayment guaranty in favor of the Senior construction Lender for its loan; (v) Any combination of the above. All bonds and letters of credit must be issued by a company qualified to do business in the State of California and acceptable to City. All bonds and letters of credit shall insure faithful and full observance and performance by Grantee of all terms, conditions, covenants, and agreements relating to the construction of improvements within the Property. Grantee shall provide or cause its Contractor to provide payment and/or performance bonds in connection with the construction of the Project Improvements, and shall name the City as an additional obligee on, with the right to enforce, any such bonds. 9. PROJECT COVENANTS Grantee hereby agrees and declares that the following covenants shall run with the land and shall be binding on Grantee, its successors and assigns: 9.1 Local Sourcing Plan. Grantee agrees to make a good faith effort to encourage subcontractors and suppliers to hire and procure locally. Prior to issuance of any Building Permit, Grantee shall develop and submit to the City a local sourcing plan for the Project targeting, to the extent feasible, the hiring of qualified workers, construction contractors, or the purchasing of goods locally within the City of Santa Ma. 9.2 Lead-Based Paint. Grantee shall comply with the requirements, as applicable of the Lead-Based Paint Poisoning Prevention Act. 9.3 Property Standards. Grantee shall cause the Property to meet all applicable local, state and federal codes and ordinances, including zoning ordinances. Grantee shall also cause the Property to meet the current edition of the Model Energy Code published by the Council of American Building Officials. No fewer than one (1)unit shall comply with requirements for mobility features under California Building Code section 11 B-233.3, and communication features that comply with California Building Code section 11 B-809.5. 9.4 Alternative Transportation and Energy Source, Resource Conservations and LEED Certification. In recognition of the City's desire to optimize the energy efficiency of the Project, Grantee agrees to consult with the Project design team, a CABEC certified 2016 Certified Energy Analyst, a LEED AP Homes (low-rise and mid-rise), LEED AP BD+C (high rise), National Green Building Standard (NGBS) Green Verifier, or GreenPoint Rater (one person may meet both of these latter qualifications) early in the Project design process to evaluate a building energy model analysis and identify and consider energy efficiency or generation measures beyond those required by minimum construction standards.