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environmental laws and required in connection with the routine operation and maintenance of the <br />Property. <br />d. Notice of Environmental Matters. Developer shall immediately advise City in <br />writing of any of the following: (a) any pending or threatened environmental claim against <br />Developer or the Property, (b) any condition or occurrence that (i) results in noncompliance with <br />any applicable environmental law, (ii) could reasonably be anticipated to cause the Property to <br />be subject to any restrictions on the ownership, occupancy, use or transferability of the Property <br />under any environmental law, or (iii) could reasonably be anticipated to form the basis of an <br />environmental claim against the Property or Developer. <br />e. Environmental Indemnification by the Developer. Developer agrees to defend, <br />indemnify and hold harmless the City and its officers, directors, employees and agents <br />(collectively the "Indemnitees ") from and against any and all obligations (including removal and <br />remediation), losses, claims (including third party claims), suits, judgments, liabilities, penalties, <br />damages (including consequential and punitive damages), costs and expenses (including <br />consultants, and attorneys' fees) of whatever kind or nature whatsoever that may at any time be <br />incurred by, imposed on, or asserted against the Indemnitees directly or indirectly based on, or <br />arising or resulting from the actual or alleged presence of Hazardous Materials on the Property. <br />600. DEVELOPER FEE AND PERFORMANCE. <br />601. Developer Fee. 8% of Project Cost per Developer's Proposal. The Developer Fee <br />is earned at the acquisition of the Property, but shall not be paid to Developer until the <br />rehabilitation of the Property is complete and the Property has 90% occupancy. <br />602. Performance Measures. Due to the legislative deadlines, performance <br />measurements will be monitored closely. The Developer's contract may be cancelled and the <br />funds reallocated to other developers for failure to meet such deadlines. Below are the expected <br />target dates: <br />a. 30% of the funds awarded must be expended within 6 months of the contract date <br />b. 75% of the funds awarded must be expended within 1 year of the contract date <br />c. 100% of the funds awarded must be expended within 18 months of the contract <br />date. <br />603. Business License/Professional Licenses. Developer must obtain and maintain a <br />valid business license in order to perform services in the City of Santa Ana. Also, Developer <br />shall, throughout the term of this Agreement, maintain all necessary licenses, permits, approvals, <br />waivers, and exemptions necessary for the provision of the services hereunder and required by <br />the laws and regulations of the United States, the State of California, the City of Santa Ana and <br />all other governmental agencies. Developer shall notify the City immediately and in writing of <br />its inability to obtain or maintain such permits, licenses, approvals, waivers, and exemptions. <br />Said inability shall be cause for termination of this Agreement. <br />13 <br />