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affiirdabte rental housing purvatarat teo the tsttbrdabatttay tceararrctncnts ofC'aode Of Federal <br />Rel;ulatiotrs (" CF'R ") Nectiort 92.2.57 or 9 254 and California Health and Sat "cty Code <br />(t.Fl&_S ") sectio is 50052.5, as applicable. <br />(d) Iaaictu>lunts Recorded. This Loatr, Agreement, the City/110 E Loan <br />Deed Of "Trust and the A flordability Restructieaats oil Transfer of Property shill have been <br />recorded in the Official Records ofthe Canaan}. <br />(c) RceltICS1 for Notice_ For IN benefit of 'City, Lscrow I- ladder ",11A <br />have recorded a reclucst lira' notice of defiault of the -- Senior Loan (tire "RcytsC",t f'or Notice <br />oI'FDcfattt ").. <br />(t) Insuranec. C'rty shall have rerecuved evidence satisfactory to the City <br />Attaaericy that all o sire policies Of insurance required by Section 19 ail' dlaa.y Agreement are <br />ill lull jbrcetiartcl effect,. <br />(;_) Represcutaticaaas and Wargantties. The representations and <br />waarantics of Developer corrtarncl in this Agreement and the roarer L oun D ocanrleuts shaall . <br />be ccuurect as of the Chose of l screwy ass tbona;h made or) and as of' shirt date, rioter if' <br />leyuesled by the FocQuttwe Director, City shall have receiwcl at certifieatte to that etTect <br />signed by IDevetoper's Representative, <br />(la) No Dufaatlt No F;vent of Default by [Devettopca, shall Iraave occurred, <br />and no cA cnt shalt have oQeurred which, with the g'sv��sat,�� a�9`na�,tiec air U�1c pas "arRe (lftiatnc <br />or hsofh, wwouhl constitute mil vent of 13cfianitt by Developer under this Agreement, ent, land if <br />requested by they Executive TDireetor, City shall leave rs:ceiwed as cer0aticate to that efflect <br />sag rictl by Devetoper s Re;presctat.ative, <br />6,2 Disbursement PrucMures for Loan(s]. <br />A porlaon of the Loan proceeds shalt be disburNed through Kscroiv to finance the <br />acquisition of the Property, with curer proc=ls boinag used fart the rchabtditatten (tau <br />evidenced an Exhibit C). The I.o,ara proceeds shall not lie used lio1� stray ]narposa: other than fair <br />atcalantitticlra costs of the Property and/or tchaand.lit,attalrl cerrastrctchaoat costs, ulctu.ulirllgq as <br />lDevdoper fee and seifl crusts related to development or 'the T'aaryect (;cost; art srableut to City's <br />prior review) The City atlows for eligible costs tai lie paid by 111. ME loan funds that were <br />incurred not rntore than 24 months prior to the HOME funds commitinunt date of tits loan <br />agrectaterot tot aaccordt iwe with I14lCv E regulations. <br />6.:3 [Intentionally Omitted I <br />0A IfittellhollalIv 011litteet] <br />M Any Disbursement. City's obhg!atir,ou to make any disbursement of tyre; <br />Rehabilitation Pot -liana (irrcltadifl the 1ir,0 Wid finat dishn;u €sentents) is subject to the <br />s attslisetion arf the; tirltovs mg. eonditions prerce^dentr. <br />(ar) 4 alisfactoty "...I'rcat~rc sa. The F. veculive Director shalt be satisfied, <br />ay <br />25H -17 <br />