04 - JOINT PH - Habitat DDA - Laserfiche WebLink

Home Browse Search

309.1. Prevailing Wage Requirements. Developer and its contractors and subcontractors shall comply with Labor Code Section 1720, et seq., and its implementing regulations, regarding the payment of prevailing wages (the "Prevailing Wage Law") with regard to the construction of the Improvements and the development of the Sites, to the extent such sections are applicable to the construction of the Improvements and the development of the Sites. Developer shall be solely responsible for determining and effectuating compliance with the Prevailing Wage Law, and the Agency makes no representation as to the applicability or non- applicability of the Prevailing Wage Law to the Improvements or the Sites. 309.2 Taxes and Assessments. Following each Closing, the Developer shall pay prior to delinquency all ad valorem real estate taxes and assessments on the Sites conveyed in such Closing, subject to the Developer's right to contest in good faith any such taxes. The Developer shall remove or have removed any levy or attachment made on any of the Sites conveyed in such Closing or any part of such Sites, or assure the satisfaction thereof within a reasonable time. The Developer shall not apply for or receive any exemption from the payment of property taxes or assessments on any interest in or to the Sites or the Improvements. 309.3 Liens and Stop Notices. The Developer shall not undertake any action which would permit a third party to place on the Sites or any part thereof any lien or stop notice. If a claim of a lien or stop notice is given or recorded affecting the Improvements the Developer shall within thirty (30) days of such recording or service or within five (5) days of the Agency's demand whichever last occurs: a. pay and discharge the same; or b. effect the release thereof by recording and delivering to the Agency a surety bond in sufficient form and amount, or otherwise; or c. provide the Agency with other assurance which the Agency deems, in its sole discretion, to be satisfactory for the payment of such lien or bonded stop notice and for the full and continuous protection of Agency from the effect of such lien or bonded stop notice. 310. Release of Construction Covenants. Promptly after completion of the Improvements or any portion thereof in conformity with this Agreement, the Agency shall furnish the Developer with a "Release of Construction Covenants," substantially in the form of Exhibit I hereto which is incorporated herein by reference. The Agency shall not unreasonably withhold such Release of Construction Covenants. The Release of Construction Covenants shall be a conclusive determination of satisfactory completion of the applicable portion of the Improvements and the Release of Construction Covenants shall so state. Any party then owning or thereafter purchasing, leasing, or otherwise acquiring any interest in any of the Sites shall not (because of such ownership, purchase, lease or acquisition) incur any obligation or liability under this Agreement except for those continuing covenants as set forth in Section 406 of this Agreement. If the Agency refuses or fails to furnish the Release of Construction Covenants, after written request from the Developer, the Agency shall, within thirty (30) days of written request therefor, provide the Developer with a written statement of the reasons the Agency 25 EXHIBIT 4