8B Consent 2010 1115 - Laserfiche WebLink

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not the obligation, to enter upon the Property and perform all acts and work necessary to protect, maintain, and preserve the Project and the landscaped areas on the Property. All costs expended by Agency in connection with the foregoing, shall constitute an indebtedness, and shall be paid by Owner to Agency upon demand. All such sums remaining unpaid thirty (30) days following delivery of Agency's invoice therefor shall bear interest at the rate of 10% per annum. 6.4 Marketing and Management Plan Not later than six (6) months following the Effective Date, Owner shall submit for Agency and City review and approval, a plan for marketing and managing the Property and the Project ( "Marketing and Management 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 tenant selection criteria, and how Owner plans to certify the eligibility of Eligible Households. The Plan shall also describe the management team and shall address how the Owner and the management entity plan to manage and maintain the Property and the Project. 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 Project, and throughout the term of this Agreement, shall submit proposed modifications to Agency and City for their review and approval. 6.5 Approval of Amendments If Agency has 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 thirty (30) days following Agency's receipt of such plan, proposal or amendment, the plan, proposal or amendment shall be deemed approved by Agency. 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 entity, authority or utility company with respect to the Property or 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. Nothing in this Section 6.6 shall prevent Owner from applying for all applicable tax exemptions including the welfare exemption from property tax for low- income housing. 6.7 Insurance Coverage Throughout the Term of this Agreement Owner shall comply with the requirements set forth in Exhibit D , and shall, at Owner's expense, maintain in full force and effect insurance coverage as specified in Exhibit D ; 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 D , 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 D pertaining to (i) provision to Agency of proof of insurance for 1538954.2 10