Agmt 2006 Mercy Housing California XXXIII (4)

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defined as a "hazardous waste," "extremely hazardous waste," or "restricted hazardous waste" under Sections 25115, 25117 or 25122.7, or listed pursuant to Section 25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law); (ii) defined as a "hazardous substance" under Section 25316 of the California Health and Safety Code, Division 20, Chapter 6.8 (Carpenter-Presley- Tanner Hazardous Substance Account Act); (iii) defined as a "hazardous material," "hazardous substance," or "hazardous waste" under Section 25501 of the California Health and Safety Code, Division 20, Chapter 6.95 (Hazardous Materials Release Response Plans and Inventory); (iv) defined as a "hazardous substance" under Section 25281 of the California Health and Safety Code, Division 20, Chapter 6.7 (Underground Storage of Hazardous Substances); (v) petroleum; (vi) friable asbestos; (vii) polychlorinated biphenyls; (viii) listed under Article 9 or defined as "hazardous" or "extremely hazardous" pursuant to Article 11 of Title 22 ofthe California Administrative Code, Division 4, Chapter 20; (ix) designated as "hazardous substances" pursuant to Section 311 of the Clean Water Act (33 US.C. S 1317); (x) defined as a "hazardous waste" pursuant to Section 1004 of the Resource Conservation and Recovery Act, 42 US.c. S6901, et seq. (42 US.c. S6903); or (xi) defined as "hazardous substances" pursuant to Section 101 of the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. S9601, et seq., as the foregoing statutes and regulations now exist or may hereafter be amended. 4.4.4.2 Hazardous Materials Laws. As used herein "Hazardous Materials Laws" means all federal, state and local laws, ordinances, regulations, orders and directives pertaining to Hazardous Materials, including without limitation, the laws, statutes and regulations cited in the preceding Section 4.4.4.1, as they may be amended from time to time. ARTICLE V DEVELOPMENT OF THE PROJECT 5.1 Schedule of Performance. Developer shall commence and complete rehabilitation of the Improvements and shall satisfy all other obligations of Developer under this Agreement within the time periods set forth in the Schedule of Performance except as such time periods may be extended upon mutual written consent of the Agency and the Developer which consent shall not be umeasonably withheld. Without limiting the foregoing, Developer shall commence construction within thirty (30) days following conveyance of the Property to Developer, and shall diligently prosecute to completion the rehabilitation of the Improvements sufficient to allow City issuance of a final certificate of occupancy within twelve (12) months following commencement of work, with construction targeted to be completed by February 29,2008, but in no event later than April 29, 2008 if Developer has obtained an allocation oflow-income housing tax credits in the second TCAC round for 2006, unless an extension is approved by Agency. Each party shall use diligent and commercially reasonable efforts to perform the obligations to be performed by such party pursuant to this Agreement within the times periods set forth herein, and if no such time is provided, within a reasonable time, designed to permit issuance of a final certificate of occupancy by the date specified in this Section 5.1. 5.2 Cost of Lease and Renovation. Except as expressly set forth herein or in another instrument executed by Agency, Developer shall pay all of Developer's direct and indirect costs and expenses incurred in connection with the lease of the Property, including without limitation 803698-6 14