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<br />City of Santa Ana <br />04-CALHOME-087 <br />Page 2 of 5 <br /> <br />EXHIBIT C <br /> <br />conditional commitment or the balance thereof and be released from any further <br />obligation to the Contractor after notifying the Contractor in writing of the State's <br />intention to terminate this Agreement. <br /> <br />B. In the event of such breach the State may also take such action or seek such <br />remedies as are provided in any other executed loan documents, <br /> <br />C. Unless otherwise approved by the State, upon termination of this Agreement, the <br />Contractor shall complete all the Work in progress and terminate any other <br />activities that were to be paid for with Program funds. Any unexpended funds <br />received by the Contractor shall be returned to the State within 15 days of the <br />notice of termination. <br /> <br />5, Insurance <br /> <br />A. Prior to the disbursement of funds under this Agreement and thereafter during <br />the term hereof, the Contractor shall obtain, carry, and maintain in force, <br />comprehensive general liability insurance in the amount of not less than one <br />million dollars ($1,000,000) for injury to or death of one person, one million <br />dollars ($1,000,000) for injury to or death of more than one person in one <br />accident, and adequate property damage insurance. All insurance carriers must <br />meet the requirements of the State of California Department of Insurance, <br /> <br />B. Upon demonstration of cause satisfactory to the State, the requirements of <br />subparagraph "B" may be satisfied by the Contractor providlng evidence of an <br />alternative to conventional insurance sufficient to provide equivalent protection, <br /> <br />6. Inspections <br /> <br />A. The Contractor shall inspect any Work performed hereunder to ensure that the <br />Work is being and has been performed in accordance with the applicable <br />federal, State and/or local requirements, any applicable construction contract, <br />and this Agreement. The Contractor agrees to require that all Work found by <br />such inspections not to conform to the applicable requirements be corrected, and <br />to withhold payment to the construction contractor or subcontractor until it is so <br />corrected. <br /> <br />B. The State reserves the right to inspect any site upon which the Work is being <br />performed; and the Contractor shali cause to be inserted in any subcontract for <br />performance of the Work a provision permitting the State or its agents the right <br />to inspect the Work-site at any reasonable time. <br /> <br />7. Siqns <br /> <br />If assistance is provided as a secured development loan, any signs placed on the <br />Property during construction which identify the sponsor of, or lenders to, the <br />development shall include the Department as one of the entities providing financing to <br />the development. During the construction period the Department may place one or <br />