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securing money loaned to finance the improvements or any part thereof A Certificate of <br />Completion is not notice of completion as referred to in California Civil Code Section 3093. <br />Prior to issuance of final certificates of occupancy, general, standard, and specific conditions and <br />obligations set forth for this project shall be met within the timelines outlined in the DDA. <br />4.11 Records. The Developer shall maintain in accordance with generally accepted <br />accounting principles, complete books and records relating to the construction, and development <br />of the Project. Upon request for examination by the City, the Developer during all normal <br />business hours, shall make available all of its records with respect to all matters covered by this <br />Agreement. Developer shall permit the City to audit, examine and make excerpts or transcripts <br />from these records. <br />4.12 Prevailing Wages. The parties contemplate that the construction of the Project pursuant <br />to this Agreement will be subject to the payment of prevailing wages under Labor Code Section <br />1720, et seq. Accordingly, the Developer shall indemnify, hold harmless and defend (with <br />counsel reasonably acceptable to the City) the City against any claim for damages, <br />compensation, fines, penalties or other amounts arising out of the failure of Developer or its <br />contractors to pay prevailing wages if and to the extent required by law or to comply with the <br />other applicable provisions of Labor Code Sections 1720 et se q. and implementing regulations of <br />the Department of Industrial Relations in connection with construction of the Project. The <br />foregoing indemnity shall survive any termination of this Agreement. Additionally, the hotel <br />component shall employ unionized labor at prevailing wages for its operations. <br />4.13 Labor Agreement Requirement. <br />4.14 Hotel Tax Rebate Incentive. A hotel tax rebate incentive may be negotiated between the <br />City and the hotel operator consistent with the City's Hotel Incentive Program. <br />4.15 Parking. <br />4.15.1 The developer will not be required to replace the existing public parking. <br />Therefore, no public funds shall be directed to the development project for the purpose of <br />creation of public parking. <br />4.15.2 The City and the developer will review and resolve all existing parking <br />obligations associated with the existing municipal parking structure. <br />4.15.3 The City shall be responsible for removing all City parking equipment prior to <br />commencement of demolition. <br />4.15.4 The developer shall provide a Parking Management Agreement. Part of that <br />agreement will include provisions for the City to maintain and operate the parking structure until <br />such time that the property must be prepared for demolition. <br />4.15.5 Existing street parking meter and parking activity must remain intact. <br />55394.00000A29008220.1 <br />65A -22 <br />