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amended from time to tune, or any other similar law or regulation. It is <br />agreed by the parties that, in connection with the development and <br />construction (as defined by applicable law or regulation) of the Project, <br />including, without limitation, any and all public works (as defined by <br />applicable law or regulation), Vista Del Rio shall bear all risks of payment or <br />non-payment of prevailing wages under applicable federal, state and local law <br />or regulation and/or the implementation of Labor Code Section 1781 and/or <br />by Davis Bacon, as the same maybe amended from time to time, and/or any <br />other similar law or regulation. "Increased costs," as used in this Section <br />309.2, shall have the meaning ascribed to it in Labor Code Section 1781, as <br />the same maybe amended from time to time. The foregoing indemnity shall <br />survive termination of this Agreement and shall continue after completion of <br />the construction and development of the Project by Vista Del Rio." <br />6. Anew Section 401.10 is hereby added which shall read as follows: <br />"Occupancy Limits. The maximum occupancy of the Units in the Project <br />shall not exceed such number of persons as is equal to two persons per <br />bedroom, plus one. Thus, for the studio Units, the maximum occupancy shall <br />not exceed two (2) persons. For the one (1) bedroom Units, the maximum <br />occupancy shall not exceed three (3) persons. For the two (2) bedroom Units, <br />the maximum occupancy shall not exceed five (5) persons. Notwithstanding <br />the foregoing, Units assisted with Project Based Section 8 vouchers shall be <br />subject to any federal occupancy standard applicable to housing so assisted." <br />7. Section 312 shall be replaced in its entirety with the following: <br />"Loan Agreement. Prior to and as a condition of Closing, Vista Del Rio shall <br />execute the Loan Agreement in substantially the form attached to the Third <br />Amendment to Disposition and Development Agreement as Exhibit 1 which <br />is incorporated herein by this reference ("Loan Agreement"). The Loan <br />Agreement shall provide for (i) the City to make a loan of One Million Five <br />Hundred Thousand Dollars ($1,500,000.00) in federal HOME Program funds <br />to Vista Del Rio, which shall carry a three percent (3.0%) interest rate, and <br />shall be a residual receipts loan; and (ii) the Agency to make a loan of Four <br />Hundred Sixty-Nine Thousand Dollars ($469,000) from the Agency's low <br />and moderate income housing fund, which shall carry a three percent (3.0%) <br />interest rate, and shall be a residual receipts loan. Vista Del Rio's obligations <br />under the Loan Agreement shall be evidenced by two promissory notes in the <br />respective principal amounts of One Million Five Hundred Thousand Dollars <br />($1,500,000.00) and Four Hundred Sixty-Nine Thousand Dollars ($469,000), <br />and secured by separate deeds of trust in the respective amounts of One <br />Million Five Hundred Thousand Dollars ($1,500,000.00) and Four Hundred <br />Sixty-Nine Thousand Dollars ($469,000). The form of promissory notes and <br />deeds of trust evidencing and securing the City/HOME Loan and Agency <br />Loan, respectively, are attached to the Loan Agreement as Exhibits C, D, E, <br />and F. " <br />DOCSOC/1475220v4/200272-0004 ~ 4 o~T <br />