Laserfiche WebLink
matters pertaining to this Agreement (i.e., audit, disputes or litigation) are resolved in accordance <br />with applicable federal or state laws, regulations or policies, and when a period of affordability or <br />recapture applies to Developer's activities, for a period of not less than five (5) years after the <br />affordability or recapture period ends. In addition to the foregoing, Developer shall comply with the <br />requirements set forth in Section 1210. <br />1507. Termite Inspection Report. Developer shall deliver a termite report pertaining to <br />the Property to the Agency/City every fifth (5th) year beginning January 2016. <br />1600. OTHER NEGATIVE COVENANTS <br />While any obligation of Developer under the Ptomtssoiyy, Notes or Deeds of Trust remain <br />outstanding, the following provisions shall apply, except to `$lie'''';,extent that Executive Director <br />otherwise consents in writing: <br />l <br />1601. Default on Senior Loan. Developer shall not defaultbii'any of the Senior Loan <br />documents, provided however, that Developer shall-.have such period as is provided in the Senior <br />Loan Documents during which to effectuate a cure. <br />,; <br />1602. Transfers of Interest ran Ppgperty or Agreement. <br />1602.1 Prohibition. The. qualifications and:'!aidentity of the Developer are of <br />particular concern to the Agency and City,<.It is because of t}iosequalifications and identity that <br />Agency and City haveiehfered :into this ilgreemogf`2gd the other ;Project Documents with the <br />Developer. Fot• the p~rigd cotnm~ricing upon jlie data: of this Agreement and until the expiration of <br />the Term hereof, uo vol(ixltaty or involturtary suceessoi hr interest of the Developer shall acquire any <br />rights or power render tlils hgreement,aror shall tlisDcveloper melee any total or partial sale, transfer, <br />conveyance, ,as ignment, subdivision; refmanctng of ldase of the whole or any part of the Property or <br />the Imptoyeli~e`ttts tfiereon wrthgtitJprior ~ri~ten approval of the Agency/City, except as expressly set <br />forth hereni:'`" Any proposed total or partial sale, ..lri3'hsfer, conveyance, assignment, subdivision, <br />refinancing or lease of the v~llole nor" ahy part of the`"Properly or the lmprovements will constitute a <br />Default pursuant to Article 2000hereof. -- <br />%.. <br />`1~0~.2 Yermtttp(1 Transfers. Notwithstanding any other provision of this <br />Agreement to the coiiifary, AgenE,yapproval of an assignment of this Agreement or conveyance of <br />the Property or lmptovelnents of any part thereof, shall not be required in connection with any of the <br />following: <br />(a) 'Any transfers to an entity or entities in which the Developer, or either <br />of its general partners, retains ownership or beneficial interest and retains management and control of <br />the transferee entity or entities. <br />(b) The conveyance or dedication of any portion of the Property to the <br />City or other appropriate governmental agency, or the granting of easements or permits to facilitate <br />construction of the lmprovements (as defined herein). <br />(c) Any requested assignment for financing purposes (subject to such <br />financing being considered and approved by the Agency pursuant to Section 311), including the grant <br />49 <br />