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12.2 Compliance with Laws ................................................................................................ 28 <br />12.3 Taxes and Impositions ................................................................................................. 28 <br />12.4 [Intentionally omitted] ................................................................................................. 29 <br />12.5 Project Operating Budget ............................................................................................ 29 <br />12,6 Replacement Reserve Account .................................................................................... 29 <br />13. NONDISCRIMINATION COVENANTS .............................................................................. 29 <br />13.1 Obligation to Refrain from Discrimination ................................................................. 29 <br />13.2 Nondiscrimination in Employment ............................................................................. 30 <br />13,3 Statutory Nondiscrimination Covenants ..................................................................... 30 <br />13,4 In Affordable Housing Restrictions ............................................................................ 31 <br />14. ENVI RONMENTAL MATTERS ........ . . . .............................................. . ................................. 31 <br />14.1 Representation and Warranty ......................................................................................31 <br />14.2 Compliance with Environmental Laws ....................................................................... 31 <br />14.3 Presence of Hazardous Materials ................................................................................31 <br />14.4 Notice of Environmental Matters ................................................................................32 <br />14,5 Environmental Indemnification by the Vista Del Rio .................................................32 <br />15, OTHER AFFIRMATIVE COVENANTS ...............................................................................32 <br />15.1 Existence .....................................................................................................................32 <br />15.2 Protection of Lien ........................................................................................................32 <br />15.3 Notice of Certain Matters ............................................................................................32 <br />15.4 Further Assurances ......................................................................................................33 <br />15,5 Annual Audited Financial Statements .........................................................................33 <br />15.6 Audits and Access to Records .....................................................................................33 <br />15.7 Termite Inspection Report ...........................................................................................34 <br />16. OTHER NEGATIVE COVENANTS ......................................................................................34 <br />16.1 Default on Senior Loan ............................................................................................... 34 <br />16,2 Transfers of Interest in Property or Agreement ..........................................................34 <br />17. [RESERVED] ..........................................................................................................................36 <br />18. INDEMNIFICATION ............................... . ............................................................................. 3 6 <br />18.1 Nonliability of Agency and City .................................................................................36 <br />18.2 Indemnity ....................................................................................................................37 <br />18.3 Reimbursement of City and Agency ...........................................................................37 <br />19. INSURANCE, CASUALTY AND CONDEMNATION ........................................................37 <br />19.1 Policies Required ........................................................................................................37 <br />19.2 City Attorney and/or City Risk Manager May Modify ...............................................38 <br />19.3 Claims and Proceedings ..............................................................................................38 <br />19.4 Delivery of Proceeds to City/Agency ..........................................................................38 <br />19.5 Application of Casualty Insurance Proceeds ...............................................................39 <br />19.6 Method of Disbursement and Undisbursed Funds ......................................................39 <br />19.7 Failure to Satisfy Conditions .......................................................................................39 <br />19.8 Restoration ..................................................................................................................39 <br />19.9 Condemnation; Treatment of Compensation ..............................................................40 <br />19.10 Waiver of Subrogation ................................................................................................40 <br />ui <br />DOCSOC/ 1475221 v5/200272-0004 <br />