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Governmental Authority approvals), all Governmental Authority approvals and all rights of third <br />parties, relating to Developer, the Property or Developer's operation of the Project thereon. <br />1203. Taxes and Impositions. Developer shall pay, prior to delinquency, all of the <br />following (collectively, the "hnpositions"): (a) all general and special real property taxes and <br />assessments imposed on the Property; (b) all other taxes and assessments and charges of every kind <br />that are assessed upon, the Property (or upon the owner and/or operator of the Property) and that <br />create or may create a lien upon the Property (or upon airy personal property or fixtures used in <br />connection with the Properly), including, without limitatigll,;, non-governmental levies and <br />assessments pursuant to applicable covenants, conditions or restciGtto"ns; and (c) all license fees, taxes <br />and assessments itnposcd on City (other than City's income`or franchise taxes) which are measured <br />by or based upon (in whole or in part) the amount of ~lie';.oblig~tions secured by the Property. If <br />permitted by law, lleveloper may pay any hnpositiori -in nstalh~epts (together with any accrued <br />interest), <br />1203.1 Right to Cmrtest, lledi, <br />long as (a) its validity is being actively contes <br />(b) Developer has demonstrated to Agency/( <br />imposition unpaid pending the outcome Qf such <br />Property in satisfaction of such Imposttion-or-pth <br />Loan Documents, and (c) Developer has fiuni <br />satisfactory in an amount not less than ':100% <br />penalties), <br />shall not be requirzd lo,pay any Imposition so <br />good faith and by appropriate proceedings, <br />tcasonable' satisfaction that leaving such <br />tidings could not result in conveyance of the <br />imliair~City and Agency's interests under, the <br />Agency/City with a bond or other security <br />he appli~alile claim (including interest and <br />1203 2 ~ rdenee,pf,Payment. ~~ Upon demand>by Agency/City from time to time, <br />Developer shall dehver~to. City, withlr thirty (30) days following the due date of any imposition, <br />evidence of payment reasonably satisfactory to Agency/City. <br />-1203 ~ -..Books aril) $ecords, Developer shall maintain complete books of account <br />and other records refle'oting its operations (in connection with any other businesses as well as with <br />respccf to _the Property),~in accordance,>With generally accepted accounting principles applied on a <br />consistent basis or in accordance with such other principles or methods as are reasonably acceptable <br />to Agency/City,:in accordance with 24 CFR 92.508. <br />1204. Payment of Fees :-~evcloper shall pay annually to City/Agency on December 1 of <br />each year, monrtoung and.admrrfisi~ative fees described in the Bond Regulatory Agreement between <br />the Housing Authority ofthc,City~~of Santa Ana and the Developer, executed upon issuance of bonds <br />pertaining to this Project. <br />1205. Management Plan. As a Condition Precedent to the first disbursement of the Loans <br />to the Developer, Developer shall submit to the Executive Director a Management Plan in a form that <br />is acceptable to the Executive Director, including, but not limited to, the components listed below. <br />Approval of the Management Plan must be obtained from the Executive Direotor prior to any <br />disbursement of the Loans to the Developer. lleveloper shall manage the units in accordance with <br />the approved Management Plan, including such amendments as may be approved in writing tiom <br />Circe to time by the Executive Director, for the term of the income and rent restrictions contained in <br />these Restrictions. The components of the Management Plan shall include: <br />37 <br />