DEPOT AT SANTIAGO, LP - 2013 - Laserfiche WebLink

Home Browse Search

requirements and shall keep the Property free from any unreasonable accumulation of debris or waste materials. Developer shall also maintain in a healthy condition any landscaping planted on the Property. 10. Developer covenants and agrees for itself, its successors, its assigns and every successor in interest to the Property or any part thereof, there shall be no discrimination against or segregation of any person, or group of persons, on account of race, color, creed, religion, sex, disability, marital status, national origin or ancestry in the sale, lease, transfer, use, occupancy, tenure or enjoyment of the Property nor shall the Developer itself or any person claiming under or through it establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees of the Property, as required by the Title VI of the Civil Rights Act of 1964, the Fair Housing Act (42 U.S.C. § 3601 -20) and all implementing regulations, and the Age Discrimination Act of 1975, and all implementing regulations. 11. Not later than five (5) business days prior to the execution of the documents, Developer shall submit to the Deputy City Manager or his/her designee, a Management Plan in a form that is acceptable to the Deputy City Manager, including, but not limited to, the components listed below. Approval of the Management Plan must be obtained from the City no later than the time for the Closing. Developer shall manage the Assisted Units in accordance with the approved Management Plan, including such amendments as may be approved in writing from time to time by the City, for the term of the income and rent restrictions contained in these Restrictions. The components of the Management Plan shall include: (a) Management Agent. Developer shall submit the name and qualifications of the proposed Management Agent. The City shall approve or disapprove the proposed Management Agent in writing based on the experience and qualifications of the Management Agent. (b) Management Agreement. Developer shall submit a copy of the proposed management agreement specifying the amount of the management fee, and the relationship and division of responsibilities between Developer and Management Agent. (c) Annual Budget and Projected Cash Flows. Prior to the Closing, and annually thereafter not later than one hundred fifty (150) days after the close of each calendar year thereafter, Developer shall submit a projected operating budget and cash flow to the City. The budget and cash flow shall be in a form that is acceptable to the City. (d) Tenant Selection Policies. Developer shall include in the Management Plan the tenant selection policies in accordance with Section 5, above. 12. If at any time the City determines that the units are not being managed or maintained in accordance with the approved Management Plan, Developer shall change the management agent or the practices complained of, upon receipt of written notice from the City. The City may require Developer to change management practices or to terminate the management contract and designate and retain a different management agent. The management 1076 \01 \1333691.1