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204,1 Agency's Conditions of Closing. The Agency's obligation to proceed <br />with the Closing for each Please is subject to the fulfillment, or waiver by the Agency Executive <br />Director, of each and all of the conditions precedent (a) through i , inclusive, described below <br />with respect to such Phase (the "Agency's Conditions Precedent"), which are solely for the <br />benefit of Agency, and which shall be fulfilled or waived on or before the applicable Outside <br />Closing Date. Any condition not specifically waived prior to such Closing shall be deemed <br />waived upon Conveyance for the Please associated with such Closing: <br />(a) Default. Prior to the Close of Escrow for such Phase, the <br />Developer has not committed and failed to cure any default in any of its obligations under the <br />ternis of this Agreement with respect to such Please and all representations and warranties of the <br />Developer contained herein shall be true and correct in all material respects. <br />(b) PClosing ` sts n urchase Nice. The Developer* <br />shall have c deposited the PUrch se Price for such Phase and all costs payable by Developer of <br />such Closing into Escrow in accordance with Section 201 into Escrow. <br />(c) Execution of Documents. The Developer shall have executed and, <br />as Necessary for recordation, shall have had acknowledged, any documents required hereunder <br />with respect to such Please and shall have delivered such documents into sero including, <br />without limitation, the Notice of Affordability Restrictions). <br />. <br />(d) Conceptual Sile Plan and aid Use i-ovals. The Developer <br />shall i have obtained City and Agency Executive Director approval of the Conceptual Site Plan <br />and final Construction Drawings for all of the Developer Improvements in such Phase, ii have <br />obtained all Lad Use Approvals necessary for the development ent f such Phase, as set forth in <br />Section 303 hereof, and (iii) take such actions as are Necessary to insure that building permits for <br />the de velopment of such Phase shall be issued concurrently with Closing of the portion of the <br />Site associated with such Phase, or demonstrate to to Agency's reasonable satisfaction that building <br />permits for the development of such Phase are ready to be issued but for the payment t of fees <br />associated therewith, and that the funds necessary for tie payment of such fees has been <br />allocated, reserved and committed in the construction financing or equity contributions which are <br />available upon and after the date of the Closing. <br />(e) Insurance. The Developer shall have provided proof of insurance <br />as required by Section 306 hereof with respect to such Phase. <br />(f) Financing. The Agency shall have approved the Evidence of <br />Construction Financing of the Developer Improvements for such Phase as provided in <br />Section 316.1 Hereof and the financing consistent with the Evidence of Construction Financing <br />for such Phase shall have closed and funded or be ready to close and fund at the applicable <br />Closing. <br />(g) Gee ei -a Conti-actor Conftacf. The Developer shall have provided <br />or caused to be provided to the Agency Executive Director a copy of a valid and binding contract <br />between the Developer and one or more California - licensed general contractors for the <br />co nstruction of the Developer Improvements associated with such Phase, certified by the <br />1 <br />Do CSOM 40 0673Nr- 13/200272-0001 <br />