25B - AGMT - 815 N HARBOR LOAN - Laserfiche WebLink

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this Agreement in order to make audits, exarninations, abstracts, excerpts or transcripts. Developer will maintain all books and accords pertaining to this Agreement for a period of not less than five (5) years after all matters pertaining to this Agreement (i.e., audit, disputes or litigation) are resolved in accordance with applicable federal or state laws, regulations or policies, and whet a period of affordability or recapture applies to Developer's activities, for a period of not less than five (5) years alter the affordability period ends. 13.7 Termite Inspection Report. Developer shalt deliver a termite report pertaining to the Property to the City every fifth (Sih) year beginning January 2022. 14 OTHER COVENANTS While any obligation of Developer under the City Note or City Deed of Trust remain outstanding, the following provisions shall apply, except to the extent that .Executive Director otherwise consents in writing: 11.1- Default on .Senior Loan. Developer shall not default on any of the Senior Load documents, provided however, that Developer dealt have such period as is provided in the Senior Loan Documents during, which to effectuates cure. 14.2 Salt or Lease of Propertvt.- Unless and until Developer has received a Certificate of Completion for the construction from City, Developer shall not sell, lease, sublease or otherwise transfer all or any part of the Properly or any interest therein without the prior written consent of the Executive Director, which consent may be withheld in the Executive Direetoes reasonable discretion, In comiection with the foregoing consent requirements, Developer acknowledges that City relied upon Developer's particular expertise in, entering into this agreement and continues to rely on such expertise to ensure the satisfactory completion of the construction. Notwithstanding anything to the contrary contained heroin, a "transfer" shall not include (i) a transfer o Ca General Partner's interest in Developer when made in connection with the exercise by the Developer's limited partner (the "Limited Partner' ") of its rights upon a default by a General Partner under the Developer's Partnership Agreement (the "Partnership Agreement ") or ttpon a General Partner's withdrawal in violation of the Partnership Agreement, so long as the removal and substitution of the defaulting General Partner is made within thirty (:ICI) days of such default or, irsuch removal and substitution camaot reasonably be completed within thirty (30) days, so long as the Limited Partner commences to take action to romove anti substitute the General Partner with a reasonable period and thereafter t&ligently proceeds to complete such substitution; (ii) any transfer or the Property to the ManiaginA General Partner pursuant to the right of first refusal or to the General Partners pursuant to the purchase option, as provided for in the Partnership Agreement, (iii) any trans rota of the Limited Partner's interest in connection with a default by the Limited Partner under and in accordance with the Partnership agreement; and (iv) any sale, transfer or other disposition of an interest in a limited partner of the Developer, 15. CERTIFICATE GE COMPLETION 29 25B -35