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(c) any change in Developer's principal place of business; <br />(d) any aspect of the Improvements that is not in substantial <br />conformity with the plans or code; <br />(e) any Event of Default or event which, with the giving of notice or <br />the passage of time or both, would constitute an Event of Default; <br />(f) any material default by Developer or any other party under any <br />Senior Loan document, or the receipt by Developer of any notice of default under any <br />Senior Loan document; <br />(g) the creation or imposition of any mechanics' or materialmans' lien <br />or other lien against the Property which might materially affect the Property; and /or <br />(h) any material adverse change in the financial condition of <br />Developer. <br />13.4 Further Assurances. Developer shall execute and acknowledge (or cause to be <br />executed and acknowledged) and deliver to City all documents, and take all actions, <br />reasonably required by City from time to time to confirm the rights created or now or <br />hereafter intended to be created under the Loan Documents; to protect and further the <br />validity, priority and enforceability of the City Deed of Trust; to subject to the Deed of <br />Trust any property intended by the terms of any Loan Docunent(s) to be covered by the <br />City Deed of Trust or otherwise to carry out the purposes of the Loan Documents and the <br />transactions contemplated thereunder. <br />13.5 Annual Financial Statements. Developer shall deliver to City, within ninety <br />(90) days after the end of each Calendar Year, (a) a certified public accountant reviewed <br />balance sheet for Developer as of the end of such Calendar Year and a certified public <br />accountant reviewed statement of profit and loss for Developer and for Developer's <br />operations in connection with the Property for such Calendar Year, together with all <br />supporting schedules, (b) a certificate of such certified public accountant that such <br />documents were reviewed by such certified public accountant in accordance with <br />generally accepted accounting principles and otherwise comply with generally accepted <br />accounting principles review requirements, and (c) a certificate of Developer's chief <br />financial officer that such documents: (i) were prepared in accordance with generally <br />accepted accounting principles applied on a consistent basis or in accordance with such <br />other principles or methods as are reasonably acceptable to City, (ii) fairly present <br />Developer's financial condition, (iii) show all material liabilities, direct and contingent, <br />and (iv) fairly present the results of Developer's operations. Developer shall also provide <br />the City with any other amzual audit reports issued by other monitoring agencies. <br />13.6 Audits and Access to Records. Developer agrees that City, the U.S. Department <br />of Housing and Urban Development, the Comptroller General of the United States or any <br />of their authorized representatives shall have the right of access, upon reasonable notice, <br />to any books, documents, papers, or other records of Developer which are pertinent to <br />28 <br />