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15.3 Notice of Certain Matters. Developer shall give notice to City, within ten <br />(10) days of Developer's learning thereof, of each of the following: <br />(a) any filed litigation or claim affecting or relating to the <br />Property and involving an amount in excess of $5,000; and any litigation or claim that <br />might subject Developer or any general partner to liability in excess of $5,000, whether <br />covered by insurance or not; <br />(b) any dispute between Developer and a Governmental <br />Authority relating to the Property, the adverse determination of which might materially <br />affect the Property; <br />(c) any change in Developer's principal place of business; <br />(d) any aspect of the Improvements that is not in <br />substantial conformity with the plans or code; <br />(e) any Event of Default or event which, with the giving of <br />notice or the passage of time or both, would constitute an Event of Default; <br />(f) any material default by Developer or any other party under <br />any Senior Loan document, or the receipt by Developer of any notice of default under <br />any Senior Loan document; <br />(g) the creation or imposition of any mechanics' or <br />materialmans' lien or other lien against the Property which might materially affect the <br />Property; and/or <br />(h) any material adverse change in the financial condition of <br />Developer. <br />1.5.4 Further Assurances. Developer shall execute and acknowledge (or cause <br />to be 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 terns of any Loan Document(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. Notwithstanding anything to the contrary set forth <br />herein, the Developer shall have no obligation to execute any document, or take any <br />action, which would (i) change a material tern of any Loan Document, (ii) change or <br />impair any material right of Developer and/or (iii) increase the liability of Developer or <br />any partner thereof. <br />15.5 Annual Financial Statements. Developer shall deliver to City, within <br />one hundred twenty (120) days after the end of each Calendar Year, (a) a certified public <br />accountant reviewed balance sheet for Developer as of the end of such Calendar Year and <br />30 <br />