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<br /> <br /> <br /> <br /> Developer must provide proof that it has secured all of its remaining financing for <br />the conversion of the Project in the form of enforceable funding commitments <br />and agrees that Developer shall be solely and exclusively responsible for any <br />and all Project costs in the event all or some of the City Assistance is not <br />approved or authorized. <br /> <br /> Developer and City shall enter into the MOU setting forth the terms and <br />conditions for the Homebuyer Down Paym ent Assistance loans for individual <br />homeowners and any other uses of the City Assistance, and the disbursements <br />of the Conditional Relocation Allocation, if any. <br /> <br /> Execution of an Affordable Housing Covenant and recording the same against <br />the Property. <br /> <br /> Developer shall assume any and all responsibility and be solely responsible for <br />determining whether laborers employed relative to the construction or installation <br />of the Project must be paid the prevailing per diem wage rate for their labor <br />classification, as determined by the state, pursuant to labor code sections 1720, <br />et seq. If applicable, Developer shall comply with the City’s Community <br />Workforce Agreement. <br /> <br /> All provided funding and Project requirements shall conform to the City’s most <br />recently adopted Affordable Housing Funds Policies and Procedures and the <br />City’s Down Payment Assistance Program, unless alternative requirements (e.g., <br />reduction of 3% down payment requirement to 1%) are expressly provided in the <br />executed MOU or any other documents related to the conversion of the Project. <br /> <br /> Approval of all required entitlements and discretionary actions to allow the <br />construction, improvement, conversion, and/or development of nine (9) <br />affordable ownership units to be located at 425 East Wellington Avenue , Santa <br />Ana, CA, 92701 (APN 398-028-12). <br /> <br /> The City's obligation to provide the City Assistance is and shall remain subject to <br />all covenants, conditions, and restrictions set forth in this pre-commitment letter <br />and the MOU, and in particular, the City's analysis of the available funding <br />sources and development and operating costs of the Project and the overall <br />economic feasibility of the Project. <br /> <br /> Developer's compliance with any applicable Relocation Laws. <br /> <br /> For any disbursement of the Homebuyer Down Payment Assistance, each <br />Homebuyer shall comply with the City's Down Payment Assistance Program. <br /> <br /> Developer must comply with all other conditions specified in the MOU for <br />disbursement of funds, including execution and recordation of the Affordable <br />Housing Covenant. <br /> <br />EXHIBIT 4