05 - JOINT PH - Vista Del Rio DDA

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(f) Noncompliance with HUD's regulations in 24 CFR Part 135 may result in sanctions, termination of this contract for default, and debarment or suspension from future HUD assisted contracts." After the foregoing Section 3 Clause, there shall be a signature block for the contractor, as applicable, the following text shall be included immediately above the signature block: "The contractor/provider by his/her signature affixed hereto declares under penalty of perjury that contractor has read the requirements of the Section 3 Clause and accepts all its requirements contained therein for all of his/her operations related to this contract." To the extent applicable, Vista Del Rio shall comply and/or cause compliance with Section 3 Clause requirements for the Project. For example, when and if Vista Del Rio or its contractor(s)/subcontractor(s) hire(s) full time employees, rather than volunteer labor or materials, Section 3 is applicable and all disclosure and reporting requirements apply. 10.6 Construction Information. From time to time during the course of the construction, but in no event more often than monthly, within ten (10) Business Days following Agency or City's written demand therefore, Vista Del Rio shall furnish requested reports of project costs, progress schedules and contractors' costs breakdowns for the construction, itemized as to trade description and item, showing the name of the contractor(s) and/or subcontractor(s), and including such indirect costs as real estate taxes, legal and accounting fees, insurance, architects' and engineers' fees, loan fees, interest during construction and contractors' overhead. 10.7 Protection Against Liens. Vista Del Rio shall diligently file a valid Notice of Completion upon completion of the construction, diligently file a notice of cessation in the event of a cessation of labor on the construction for a period of thirty (30) days or more, and take all actions reasonably required to prevent the assertion of claims of lien against the Property. Ln the event that any claim of lien is asserted against the property or any stop notice or claim is asserted against the Agency or the City by any person furnishing labor or materials to the Property, Vista Del Rio shall immediately give written notice of the same to City and Agency and shall, promptly and in any event within ten (10) Business Days after written demand therefor, (a) pay and discharge the same, (b) effect the release thereof by delivering to City and Agency a surety bond complying with the requirement of applicable laws for such release, or (c) take such other action as City or Agency may require to release City and/or Agency from any obligation or liability with respect to such stop notice or claim. 11. FEDERAL (HOME PROGRAM) AND STATE REDEVELOPMENT COVENANTS 11.1 [Intentionally Omitted] 11.2 Qualification as Affordable Housing. As more particularly provided in the Affordability Restrictions on Transfer of Property, Vista Del Rio shall use, manage and operate the Property in accordance with the requirements of 24 CFR 92.252 and California Health and Safety Code section 50052.5 so as to qualify the housing on the Property as Affordable Housing with affordable rents. 11.3 Tenant and Participant Protection. Vista Del Rio shall comply with the requirements of 24 CFR 92.253. 25 DOCSOC/ 1475221 v5/200272-0004