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12.1 3.3 Books and. Records, fDevdoper shall maintain complete books, of
<br />account and tatfrvr records, rel]ecking; its operations (in connection with arty other
<br />husnrc.`,,,aei ,aw. well as wilh respect to the Property), in accordance with ggerterally accepted
<br />.accounting; principles Rapp�hcd oil a consistent basis or in <accerrdanct: will such other
<br />principles or methods as are reasonoabty acceptable to City, in awcor Mace with 24 (TR
<br />92.508.
<br />12.4 Project Operating Accoun . Subject to thu requircuicarts of "khe Senior
<br />Lender, [Developer must promptly deposit all gnolect incomt: directly into a segregated
<br />depository account established cxc,lusivcly for the Protect (" ProJect Operating Account "').
<br />Withdrawal,, from ibis aoxmint irmy be matte curtly in accordance with the provisions of
<br />ihis Agreement and the aapproccal Project Budget, as it may lie revised Fiona tine; to brae
<br />with City approval. Devcloper may make withdrawals from this account solely .fair the
<br />payment of pncajcct expenses (inclodingw, without hinitation, ,funding reserve,, arid the
<br />inualcing; of cleht s,ervrce payments), project fees and paerrnitted distributions to the partners
<br />of the (Developer. Wifil irtawals fprOM this account lirr othrer puipOSQS riraay be raaaade only
<br />with the prior written approval ofthe City.
<br />115 14plac ernent Rcscm., Account. Developer must establish or cause to be
<br />establislied a ,aegfrrcgated interest- bearing replacement reserve depository account
<br />( "Replaecment Reserve Account ") no later tl ar. sixty (60) days aaltei the Certificate of
<br />Completion is filed. Developer nnast inaal e, monthly dQposits from projccrt income irrto
<br />the Replacement. Reserve in accordance with Developer's Budget, as amended frona lime
<br />to tirrrc. Developer may witlidratwwe funds from the Replacement Reserve Ae ount stalely
<br />to furul capital iraiprovenaents liar- tiie Project. such as replacing or repairing strmIural
<br />elenaem;s, furnitu.rrrc, fixtures or epnipmont of the Project that are rcaasomilily required to
<br />preserve the Project [Developer may not withdraw furmis train the fiepkicement Reserve
<br />Account for any other purpose without the prior waittcn aapprov ail of'tile City.
<br />13. NON DISC :RINI (NATION COVENANTS
<br />13.t Oblf�4a,tion to Refrain Iron Discrimination. Developer covenants and
<br />agrees that:
<br />A. Ira Use of Property. There shall he no rhscrinumition .
<br />aagahim or segregation of any person, or group of ier., , r „an acuounl of raec, color,
<br />p 1 ' ssira5,
<br />creed, religion, sex, mental or physical dm4bilily, irwrital stMus, national origin, or
<br />ancestry in [lie sa1o, lease, sublease, transfer, use, occupancy, terture or enjoyment of dw
<br />Properly, nor shall Developer or miy personal. ctatrnrng under arr through it, estralilisla or
<br />peinlit any such practice or practices of cftseriminalimi or seg;n.,gp,,tliou with rcterence to
<br />the se]ectou, locattcrta, nnnrher, use or car;ecrpanQy of tertmits, lQSSCQS, subteaaants,
<br />sublcssee. , or vendor!; of the Property.
<br />H. In Affordable lIeinsin ,, Ihestrietiam„. The
<br />foregoing Covenant shall (a) tic; included in tfac Altiordaihiht,y kestatcaions our Transfer of
<br />Property, (b) rura with the land, and (c) reintain clfeutiwe for the terns of the contract (for
<br />55 yeay.,)..
<br />251 -35
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