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1004. Entry and Inspection. At all times prior to completion of the construction, upon <br />reasonable notice, Agency/City and their agents shall have (a) the right of free access to the Property <br />and all sites away from the Property where materials for the conshruction are stored, (b) the right to <br />inspect all labor performed and materials furnished for the construction, and (c) the right Co inspect <br />and copy all documents pertaining to the construction. <br />1005. Construction Information. From time to time druing the course of the construction, <br />within ten (10) Business Days following Agency or City's written demand therefore, Developer shall <br />furnish requested reports of Project Costs, progress schedules andconttactors' costs breakdowns for <br />the construction, itemized as to trade description and item, showing the name of the contractor(s) <br />and/or subcontractor(s), and including such indirect costs a~~eal estate taxes, legal and accounting <br />fees, insurance, architects' and engineers' fees, loan :fees,: ;interest during construction and <br />contractors' overhead. <br />1006. Protection Against Liens. <br />Completion upon completion of the construclio <br />cessation of labor on the construction for a pe <br />reasonably required to prevent the assertion of <br />any claim of lien is asserted against the proper <br />Agency or the City by any person furnishing <br />immediately give written notice of the same t <br />within ten (10) Business Days after written <br />(b) effect the release thereof,.:by delivering t <br />requirement of applicable l~ws`;fog,,such relea; <br />require to release Agerigy/City fro~iizauy oblig <br />claim. _ <br />7eyeioper shall diligently, file a valid Notice of <br />y`dligontly file a notice of'c'~~sation in the event of a <br />iod~gf thirty (30) days or moro,~.,~nd take all actions <br />~laims;bf lien aga'ihst the P~oper~y, ,ht the event that <br />y or any step""notice or claim is as'ssrted against the <br />labor or ma enals to the Property, Developer shall <br />~gencylC sand shall, promptly and in any event <br />demand thcrofo~, (a) pay and discharge the same, <br />~ Agency/City a surety bond complying with the <br />;, or (c) take sugh othei` action as Agency/City may <br />iliori of habrhty.w;lth respect to such stop notice or <br />1100. <br />COVENANTS <br />`1141: CHDO. ,~~ Orangel3ousing Devalo,~ment Corporation, the sole member of the <br />managing general partner of,pevelo~er, represents and warrants that it qualifies and is in good <br />standing as %a, Commumty:;Hpusmg Development Organization under the HOME Program. <br />Developer he~,el?g covenants a~~l agrees r~o maintain such status throughout the term of this <br />Agreement, and .to, provrdc thc,;:Agency and City with written documentation necessary to <br />demonstrate mainten~itce of said' status on an annual basis. In the event Orange Housing <br />Development Corporation transfei`S` its general partnership irilerest in Developer to another entity <br />(with the consent of the laeeu£iVe"Director or as otherwise permitted by this Agreement), Developer <br />hereby agrees that such successor entity shall qualify and be in good standing as a Community <br />Housing Development Organization under the HOME Program and shall satisfy the requirements <br />and meet the qualifications of Orange IIousing Development Corporation, as described in <br />Section 90].1. <br />1102. Qualification as Affordable Housing. As more particularly provided in the <br />Affordability Restrictions on Transfer of Property, Developer shall use, manage and operate the <br />Property in accordance with the requirements of 24 CFR 92.252 and California Health and Safety <br />Code Section 50053 so as to qualify the housing on the Property as Affordable Housing with <br />affordable rents. <br />33 <br />