Agmt 2009 Alameda County Allied Housing Program

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"Plan"). The Marketing and Management Plan shall address in detail how Owner plans to market the Restricted Units to prospective Eligible Households in accordance with fair housing laws and this Agreement, Owner's plan to transition the Project to one hundred percent {100%) Restricted Units, Owner's tenant selection criteria, and how Owner plans to certify the eligibility of Eligible Households. The Plan shall also descxibe the management team and shall address how the Owner and the management entity plan to manage and maintain the Property and the Pxoject. The Plan shall include the proposed management agreement and the form of rental agreement that Owner proposes to enter into with Project tenants. Owner shall abide by the terms of the Marketing and Management Plan in marketing, managing, and maintaining the Property and the Pxoject, and throughout the term of this Agreement, shall submit proposed modifications to Agency and City for their review and approval. b.5 A royal of Amendments. If Agency and City have not responded to any submission of the Management and Marketing Plan, the proposed management entity, or a proposed amendment or change to any of the foregoing within sixty (60) days following Agency's and City's receipt of such plan, proposal or amendment, the plan, proposal or amendment shall be deemed approved by Agency and City. 6.6 Fees, Taxes, and Other Levies. Owner shall be responsible for payment of all fees, assessments, taxes, charges, liens and levies, including without limitation possessory interest taxes, if applicable, imposed by any public authority or utility company with respect to the Property ox the Project, and shall pay such charges prior to delinquency. However, Owner shall not be required to pay any such charge so long as {a) Owner is contesting such charge in good faith and by appropriate proceedings, {b) Owner maintains reserves adequate to pay any contested liabilities, and (c} on final determination of the proceeding or contest, Owner immediately pays or discharges any decision or judgment rendered against it, together with all costs, charges and interest. 6.7 Insurance Coverage. Throughout the term of this Agreement Owner shall comply with the requirements set forth in Exhibit C, and shall, at Owner's expense, maintain in full force and effect insurance coverage as specified in Exhibit C; provided however, during such time that lenders or low-income housing tax credit investors providing financing for the Project impose insurance requirements that are inconsistent with the requirements set forth in Exhibit C, Owner may satisfy the requirements of this Section by meeting the requirements of such lenders or investors. Notwithstanding the foregoing, throughout the term hereof, Owner shall comply with the provisions of Exhibit C pertaining to (i) provision to City and Agency of proof of insurance for the Project, (ii) naming of Agency and the City as additional insureds, and (iii) provision to City and Agency of notice of cancellation ox reduction in coverage. 6.8 Property Damage or Destruction. If any part of the Project is damaged or destroyed, Owner shall repair ox restore the same, consistent with the occupancy and rent restriction requirements set forth in this Agreement. Such woxk shall be commenced within 60 days after the damage or loss occurs and shall be completed within one year thereafter, provided that insurance proceeds are available to be applied to such repairs or restoration within AMENDED AND RESTATED REGULATORY AGREEMENT Z Z MIS510N BELL APARTMENTS 1227466-8