ILLUMINATION FOUNDATION (40) - Laserfiche WebLink

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(I) any material default by Grantee or any other party under any Senior Loan document, or the receipt by Grantee of any notice of default under any Senior Loan document; (g) the creation or imposition of any mechanics' or materialmans' lien or other lien against the Property which might materially affect the Property, which is not bonded over or released; and/or (h) any material adverse change in the financial condition of Grantee. 11.3 Further Assurances. Grantee shall execute and acknowledge (or cause to be executed and acknowledged) and deliver to City all documents, and take all actions, reasonably required by City from time to time to confirm the rights created or now or hereafter intended to be created under this Agreement. 11.4 Default on Senior Loan. Grantee shall not default on any of the Senior Loan Documents, provided however, that Grantee shall have such period as is provided in the Senior Loan Documents during which to effectuate a cure. 11.5 Sale or Lease of Property. Grantee shall not sell, lease (other than to qualified renters meeting the requirements set forth in this Agreement), sublease or otherwise transfer all or any part of the Property or any interest therein without the prior written consent of the City Project Manager, which consent may be withheld in the City Project Manager's sole discretion. In connection with the foregoing consent requirements, Grantee acknowledges that City relied upon Grantee's particular expertise in entering into this Agreement and continues to rely on such expertise to ensure the satisfactory completion of the construction. 12. CERTIFICATE OF COMPLETION Upon satisfactory completion of the construction and upon the request of Grantee, or at its own election, the City shall issue a Certificate of Completion. Such Certificate of Completion shall be, and shall so state, conclusive determination of satisfactory completion of the construction. The Certificate of Completion may be issued in the form of the Certificate of Occupancy or Final Inspection Notice from the City. If City declines to furnish a Certificate of Completion after written request from Grantee, the City Project Manager shall, within thirty (30)days after receipt of the request,provide Grantee with a written statement of the reasons therefore. The statement shall contain a description of the action Grantee must take to obtain a Certificate of Completion. If the reason therefore is that the Grantee has not completed a minor portion of the construction, City may, in its sole and absolute discretion, issue the Certificate of Completion upon the posting with City of a bond or other form of security acceptable to the City Project Manager in the amount of the fair value of the uncompleted work. A Certificate of Completion is not "notice of completion" referred to in Section 3093 of the California Civil Code. 13. INDEMNIFICATION 13.1 Nonliability of City. Grantee acknowledges and agrees that: