Laserfiche WebLink
may require that the financial statement be audited at Developer`8 expense by an <br />independent certified public accountant acceptable to the ExcQutivc Director, <br />(2) Any substantial physical defects in the Project, including a <br />description of any major repair or maintenance work- -undertaken or needed in the provioas., <br />and current year& Such statement shall describe what stops Developer has taken in order <br />to maintain the Project in a safe, and sanitary condition in accordance with applicable <br />housing and building codes and the property standards set forth, in 24 CFR 92,251. <br />(3) The occupancy of the units indicating (be income of cach current <br />resident and the current rents charged each resident and whether those rents incl uJQ <br />utilities, incl aiding records that dcincustf ate that the Project triects the requirements of 24 <br />CFR 92.253 for tenant and participant protection under the HOME Program. <br />(4) General management Performance, including tenant relations and <br />other relevant nilbrmution, <br />(5) Records that demonstrate that the unit;, meet the affordability <br />requirements of 24 CFR 92.252, 50052.5 and 50053(b)(1) of the California Health and <br />Safety Code, for the required Period of affordability according to section 33334.3 of the <br />California Health and Safety Code. <br />(6) Evidence of a currently paid hazard insurance policy in accordance <br />with the requirements of Section 6 of the City/I-IOME Deml of Trust, with a loss payable <br />endorsement naming g the City as a lo ss pa yee(s) toge Lb or witil other appr v d <br />0 ed len els as <br />their interests tray - appear), with "Replacement Cost Endorsement" in amount sufficient <br />to prevent Developer or City from becoming a co-insurer under the tenors of the policy, but <br />in any event in an amount not less than 100% of the then full replacement cost, to be <br />determined at least once annually and subject to reasonable approval by the Executive <br />Director. <br />(7) Evidence of a currently paid liability insurance policy, naming the <br />City as additional insured and in a tomi approved by the City Attorney with coverage as <br />described in the Loan Agreement. <br />(8) Totinite reports pertaining to the Property every Will (5') yean <br />(19) Stich other inFormation as may be reasonably required by the <br />Executive Director or hisibor designee. <br />by Records and Audits. Developer shall maintain the following general <br />ppogq,ajn records, and make them available for inspection -by the City, the State or HUD� <br />(1) recoMs -which demonstrate that the project moors the property <br />standard specific( in 24 CFR 92.251; <br />(2) records, for each HaME Assisted Unit, which demonstrates that the <br />project mocts the requirentcrvits of 24 CFR 91252. <br />7 of 10 <br />25B-83 <br />