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Relocate all existing tenants on the Site at the Agency's sore cost and expense, in <br />accordance with all existing federal, state, and local laws. <br />2. Demolish all existing improvements on the Site. <br />3. Remove and abate all debris from the Site in compliance ce with all applicable federal, <br />state, and local laws, and deliver to the Developer an Abatement Report that confirms <br />that all hazardous materials have been properly removed and abated from the Site. <br />4. Convey to the Developer for $1.00, fee title to the parcels included in each Phase of the <br />Project. Closings for each Phase may occur separately. <br />Indemnify the Developer against any damage or expense In connection with the <br />Agency's relocation and demolition obligations, including any claims associated with the <br />removal or remediation of hazardous materials. <br />6. Approve and record documents prepared by the Developer to impose easements, <br />ents, <br />covenants, conditions and restrictions on the Project or Phases of the Project to ensure <br />orderly development in accordance with the Agreement. <br />7. Provide financial assistance to the Developer to fill the affordability gap associated with <br />the rental units in Phases R-1 and -- (Agency Loans -- Rental Component). The <br />Agency Loans - Rental Component for each Phase will be secured by a Deed of Trust, <br />and are reparable from the cash floe (Residual Receipts) generated by Phases R -1 and <br />R-2. . The Agency Loans - Rental Component will be made in the following amounts: <br />a. $10.8 million for Phase R--`l; and <br />b. $4.77 million for Phase -2. <br />8. Provide approximately $1. 68 million in financial assistance to the Phase FS <br />development. This assistance will be structured as follows: <br />a# A $1.5 million loan will be provided to the Developer Agency Loan — Phase FS). <br />The Agency Loan — Phase FS will be repaid with any excess sales revenges <br />generated by the Phase FS development. <br />b. Assistance totaling $30,000 will be provided to each qualified hornebu rer of an <br />Affordable For -Sale Unit Homebu rerAssistance Loans). <br />i. Each Horneb yerAssistance Loan must be funded solely from the Low <br />and Moderate Income Housing Fund; and <br />