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406. Effect of Violation of the Terms and Provisions of this Agreement after Completion of Construction. The Agency is deemed the beneficiary of the terms and provisions of this Agreement and of the covenants running with the land, for and in its own right and for the purposes of protecting the interest of the community and other parties, public or private, in whose favor and for whose benefit this Agreement and the covenants running with the land have been provided, without regard to whether the Agency has been, remains or is an owner of any land or interest therein in the Sites or in each Project. The Agency shall have the right, if the Agreement or covenants are breached, to exercise all rights and remedies, and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breaches to which it or any other beneficiaries of this Agreement and covenants may be entitled. The covenants contained in this Agreement shall remain in effect as follows: 406.1 The environmental covenants set forth in Sections 208.5, 208.6 and 208.7 shall remain in effect in perpetuity. 406.2 The covenants pertaining to use of the Sites which are set forth in Section 401 shall remain in effect for the term of the Redevelopment Plan. 406.3 The covenants pertaining to the use of the Sites as affordable housing set forth in Section 403 shall remain in effect for a period of not less than forty-five (45) years from the date that the property is conveyed to a Low Income Household or a Moderate Income Household. 406.4 The covenants pertaining to maintenance of the Sites and all improvements thereon, as set forth in Section 404, shall remain in effect for the Term of Affordability. 406.5 The covenants against discrimination, as set forth in Section 405 shall remain in effect in perpetuity. 407. Monitoring. Throughout the Term of Affordability, Developer shall comply (and Developer shall endeavor to cause each Program Participant to comply) with Health and Safety Code Section 33418 and all applicable record keeping and monitoring requirements and each Program Participant shall annually complete and submit to Agency such information as is required by Agency in order to ensure continued compliance with the occupancy requirements contained herein. 500. DEFAULTS, TERMINATION AND REMEDIES 501. Default Remedies. Subject to the extensions of time set forth in Section 502 of this Agreement, failure by either party to perform any action or covenant required by this Agreement within the time periods provided herein following notice and failure to cure as described hereafter, constitutes a "Default" under this Agreement. A party claiming a Default shall give written notice of Default to the other party specifying the Default complained of. Except as otherwise expressly provided in this Agreement, the claimant shall not institute any proceeding against any other party, and the other party shall not be in Default if such party within thit~ty (30) days from receipt of such notice immediately, with due diligence, commences to cure, correct or remedy such failure or delay and shall complete such cure, con•ection or 32 EXHIBIT 4