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limited to the permitted uses of the property and buildings in the immediate area of the development (e.g., MacArthur Place, GrifFui Towers, and surrounding property zoned and /or devoted to commercial use), and shall ,provide a release of all claims against the City which may arise from or relate to the disclosed matters. (5) Terms and Content: i. CC &R's are to be in effect in perpetuity. ii. Any proposed modifications to the CC &R's will require approval by the Agency's Executive Director. iii. CC &R's shall provide a significant financial penalty that shall be unposed by the Horne Owner's Association to any member who violates these provisions If the Project requires a conversion from rental units to condominiums at the time of recording the Final Map, the Owner must abide by and comply with the requirements and conditions of Santa Ana Municipal Code sections 34 -331, et seq., pertaining to residential conversion projects, prior to recording of the Final Map. 5.9 Responsibility for Costs of Work of Public Art. The City and Owner agree that Owner shall be responsible for all costs associated with the design, construction, maintenance and repair of the work of public art provided for in the Public Art Plan. 5.10 Moratoria. Moratoria enacted by the City for the public health, safety, and welfare, which are imposed on the Property or Project, shall toll the time periods set forth in this Agreement. 5.11 City to Receive Contract Documents. Owner shall fiunish City, upon written request, copies of contracts and supporting documents relating to the work of public art. 5.12 Conditions of Discretionary Approvals. The requirements imposed as conditions of any discretionary approval received through the City's existing regulatory process shall be governed by the terms of those approvals, and in no event shall such conditions be affected by the termination, cancellation, rescission, revocation, or default or expiration of this Agreement. 5.13 Compliance with Governmental Requirements. Subject to and as otherwise provided by the terms of Section 5.1 above, Owner shall carry out the design, construction, and operation of the Project in substantial conformity with all applicable laws, ordinances, statutes, codes, rules, regulations, orders, and decrees of the United States, the State of California, the County of Orange, the City, or any other political subdivision in which the Property is located, and of any other political subdivision, agency, or instrumentality exercising jurisdiction over the City, the Owner or the Property, including all applicable federal, state, and 13