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ii. Any proposed modifications to the foregoing provisions of the CC&R's will require approval by the Executive Director. 6. ANNUAL REVIEW. 6.1 City and Owner Responsibilities. The City shall, at least every twelve (12) months during the term of this First Amendment, review the extent of good faith substantial compliance by Owner with the terms of this First Amendment. Pursuant to Government Code Section 65865.1, as amended, Owner shall have the duty to demonstrate by substantial evidence its good faith compliance with the terms of the First Amendment at the periodic review. 6.2 Review Letter. If Owner is found to be in compliance with the First Amendment after the annual review set forth in Section 6.1 above, the City shall, upon written request by Owner, issue a Review Letter to Owner (the "Letter") stating that based upon information known or made known to the City Council, the City Planning Commission and/or the Executive Director, the First Amendment remains in effect and Owner is not in default. Owner may record the Letter in the Official Records of the County of Orange. 6.3 Failure of Periodic Review. City's failure to review at least annually Owner's compliance with the terms and conditions of this First Amendment shall not constitute or be asserted by any party as a breach of the First Amendment by Owner or City. 7. DEFAULT. 7.1 Owner Events of Default. Property Owner is in default under this First Amendment upon the happening of one or more of the following events or conditions (each, an "Owner Event of Default"): (1) If a material warranty, representation, or statement made or furnished by Property Owner to the City is false or proves to have been false in any material respect when it was made; or (2) A finding and determination made by the City following a periodic review under the procedure provided for in Government Code Section 65865.1 and Section 6.1 of this First Amendment that upon the basis of substantial evidence the Property Owner has not complied in good faith with one or more of the material terms or conditions of this First Amendment; (3) Failure to comply with Governmental Requirements; (4) Any other event, condition, act, or omission which materially interferes with the intent and objectives of this First Amendment. io 75A-194