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rehabilitation, within ten (10) Business Days following City's written demand therefore, <br />Developer shall furnish requested reports of project costs, progress schedules and <br />contractors' costs breakdowns for the rehabilitation, itemized as to trade description and <br />item, showing the name of the contractor(s) and /or subcontractor(s), and including such <br />indirect costs as real estate taxes, legal and accounting fees, insurance, architects' and <br />engineers' fees, loan fees, interest during construction and contractors' overhead. <br />10.7 Protection Against Liens: Developer shall diligently file a valid <br />Notice of Completion upon completion of the rehabilitation, diligently file a notice of <br />cessation in the event of a cessation of labor on the rehabilitation for a period of thirty <br />(30) days or more, and take all actions reasonably required to prevent the assertion of <br />claims of lien against the Property. In the event that any claim of lien is asserted against <br />the property or any stop notice or claim is asserted against the City by any person <br />furnishing labor or materials to the Property, Developer shall immediately give written <br />notice of the same to City and shall, promptly and in any event within ten (10) Business <br />Days after written demand therefor, (a) pay and discharge the same, (b) effect the release <br />thereof by delivering to City a surety bond complying with the requirement of applicable <br />laws for such release, or (c) take such other action as City may require to release City <br />from any obligation or liability with respect to such stop notice or claim. <br />10.8 General Contractors who are Related Parties to the Developer. If the <br />Project is developed with general contractors who are Related Parties to the Developer, <br />the Developer must be audited to the subcontractor level by an outside auditing firm <br />approved by the City. The Developer shall pay for the audit to the subcontractor level by <br />an outside auditing firm. <br />11. FEDERAL (HOME PROGRAM) COVENANTS <br />11.1 Qualification as Affordable Housing. As more particularly provided in <br />the Affordability Restrictions on Transfer of Property, Developer shall use, manage and <br />operate the Property in accordance with the requirements of 24 CFR 92.252 so as to <br />qualify the housing on the Property as Affordable Housing with affordable rents. <br />11.2 Tenant and Participant Protection. Developer shall comply with the <br />requirements of 24 CFR 92.253. <br />11.3 [Intentionally Omitted] <br />11.4 Handicapped Accessibility. Developer shall comply with (a) Section <br />504 of the Rehabilitation Act of 1973, and implementing regulations at 24 CFR 8C <br />governing accessibility of projects assisted under the HOME Program; and (b) the <br />Americans with Disabilities Act of 1990, and implementing regulations at 28 CFR 35 -36 <br />in order to provide handicapped accessibility to the extent readily achievable. <br />11.6 Use of Debarred. Suspended, or Ineligible Participants. Developer shall <br />comply with the provisions of 24 CFR 24 relating to the employment, engagement of <br />services, awarding of contracts, or funding of any contractor or subcontractor during any <br />period of debarment, suspension, or placement in ineligibility status. <br />22 <br />251 -28 <br />