Laserfiche WebLink
(c) any change in Developer's principal place of business; <br />(d) any aspect of the improvements that is not in substantial conformity <br />with the plans or code; <br />(e) any Event of Default or event which, with the giving of notice or the <br />passage of time or both, would constitute au Event of Delaulh, <br />(f) any material default by Developer ox any other party under any Senior <br />Loan document, or the receipt by Developer of any notice ;of default under any Senior Loan <br />document; / <br />/ . <br />(g) the creation or imposition of any neehanics' or matcrialmans' lien or <br />other lieu against the Property which might malerial),y affect the Property; and/or <br />(h) any material adverse"change in the financ~af:ggndition of Developer. <br />1504. Further Assurances. Developer shall execyt0;pnd acknovdled,~e (or cause to be <br />executed and aclniowiedged) and dariver to Agency/City ~~11~''doeuments, and 'tgke all actions, <br />reasonably required by AgencylCity rein time to time to confirm the rights created or now or <br />hereafter iutendcd to be created undei,t>ie,Loan Documents;,to protect and further the validity, <br />priority and enforceability of the Agency~~ity Deeds pf Tuist;lo subject to the Deed(s) of Trusl any <br />property intended by the terms of any Loan rocuments, to be coVei'ed by the Agency/City Deeds of <br />Trust or othertivise to ,icariy out the pur~oses of .,the':Loan Docifinents and the hansactions <br />contemplated they eun~cr' <br />1505. Annual`~iitancial S,fajemeuts. Developer shall deliver to Agency/City, within one <br />hundred fifty (150) days after. thefend of each Calendar Year, (a) a certified public accountant <br />reviewed balapec sheet, for Developer 'a's ~"of the end'p`f such Calendar Year and a certified public <br />accountant reviewed sfa~$ement bf.profit and loss~for"[developer and for Developer's operations in <br />connectiolt.;with the Property. for such ,calendar Year, together with all supporting schedules, (b) a <br />certificate of such certified public accoYintput that such documents were reviewed by such certified <br />public accountant in accordance' yith generally accepted accounting principles and otherwise comply <br />with generally accepted accounting principles review requirements, and (c) a certificate of <br />Developer's chief ftnancial officer. that such documents: (i) were prepared in accordance with <br />generally accepted accounting priij~iples applied on a consistent basis or in aeoordance with such <br />other principles or methods as are reasonably acceptable to Agency/City, (ii) fairly present <br />Developer's financial condition, (iii) show all material liabilities, direct and conth2gent, and <br />(iv) fairly present the results of Developer's operations. Developer shall also provide the <br />Agency/City with any other annual audit reports issued by other monitoring agencies. Developer <br />shall include in said reports a residual receipts report. In addition to the foregoing, Developer shall <br />comply with the requirements set forth in Section 1210. <br />1506. Audits and Access to Records. Developer agrees that Agency/City, the U.S. <br />Department of Housing and Urban Development, the Comptroller Ueneral of the United States or <br />any of their authorized representatives shall have the right of access, upon reasonable notice, to any <br />books, documents, papers, or other records of Developer which are pertinent to this Agreement in <br />order to make audits, examinations, abstracts, excerpts or hanscripts. Developer will maintain all <br />books and records pertaining to this Agreement for a period of not less than five (5) years after all <br />48 <br />