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815 N. HARBOR, L.P. (HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS) 2-2015
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815 N. HARBOR, L.P. (HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS) 2-2015
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8/24/2015 11:03:28 AM
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8/19/2015 2:54:59 PM
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Company Name
815 N. HARBOR, L.P. (HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS)
Contract #
A-2015-029
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
2/17/2015
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if actions satisfactory to HUD are being taken to ensure that all vacancies are <br />filled in accordance with this section until the non - compliance is corrected. <br />9.18 Other HOME Program Requirements. Developer shall comply with all <br />other applicable requirements of the HOME Program. <br />9.19 Controlling Covenants. If there is a discrepancy between State and Federal <br />law with regard to any of the aforementioned covenants, the more stringent shall apply. <br />10. MAINTENANCE, MANAGEMENT, OPERATION, PRESERVATION <br />AND REPAIR OF PROPERTY <br />10.1 Maintenance. Developer shall maintain the Property (and all abutting <br />grounds, sidewalks, roads, parking and landscape areas which Developer is otherwise <br />required to maintain) in good condition and repair; shall operate the Property in a <br />businesslike manner; shall prudently preserve and protect its own as well as the City's <br />interests in connection with the Property; shall not commit or permit any waste or <br />deterioration of the Property (except for normal wear and tear); shall not abandon any <br />portion of the Property or leave the Property unguarded or unprotected; and shall not <br />otherwise act, or fail to act, in such a way as to unreasonably increase the risk of any <br />damage to the Property or of any other impairment of City's interests under the Loan <br />Documents. Without limiting the generality of the foregoing, and except as otherwise <br />agreed by City in writing from time to time, Developer shall promptly and faithfully <br />perform and observe each of the following provisions: <br />10.2 Alterations and Repair. Developer shall not remove, demolish or <br />materially alter any Improvement without City's prior consent, except to make non- <br />structural repairs which preserve or increase the Property's value, and shall promptly <br />restore, in a good and professional mariner, any Improvement (or other aspect or portion <br />of the Property) that is damaged or destroyed from any cause. <br />10.3 Compliance. Developer shall comply with all laws and requirements of <br />Governmental Authority (including, without limitation, all requirements relating to the <br />obtaining of Governmental Authority approvals), all Governmental Authority approvals <br />and all rights of third parties, relating to Developer, the Property or Developer's business <br />thereon. <br />10.4 Taxes and Impositions. Developer shall pay, prior to delinquency, all <br />of the following (collectively, the "Impositions "): (a) all general and special real property <br />taxes and assessments imposed on the Property; (b) all other taxes and assessments and <br />charges of every kind that are assessed upon the Property (or upon the owner and /or <br />operator of the Property) and that create or may create a lien upon the Property (or upon <br />any personal property or fixtures used in connection with the Property), including, <br />without limitation, non - governmental levies and assessments pursuant to applicable <br />covenants, conditions or restrictions; and (c) all license fees, taxes and assessments <br />imposed on City (other than City's income or franchise taxes) which are measured by or <br />based upon (in whole or in part) the amount of the obligations secured by the Property. If <br />24 <br />
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