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Property to operation of a residential rental multi- family project, (B) for a term of not less than <br /> fifty -five (55) years commencing on the Effective Date, not less than ten (10) of the residential <br /> units in the Project shall be rented at Affordable Rent to Eligible Households whose income is no <br /> greater than 60% of Area Median Income, and (C) until June 30, 2058 the following additional <br /> units shall be subject to the following restrictions: not less than two (2) additional units shall <br /> rented at Affordable Rent to Eligible Households whose income is no greater than thirty -five <br /> percent (35 %) of Area Median Income, no fewer than nine (9) additional units shall be rented at <br /> Affordable Rents to Eligible Households of Very Low- Income, and not less than eleven (I I) <br /> additional units shall be rented at Affordable Rents to Eligible Households whose income is no <br /> greater than sixty percent (60 %) of Area Median Income, all in accordance with the terms hereof <br /> and the Amended and Restated Affordable Housing Regulatory Agreement and Declaration of <br /> Restrictive Covenants (the "Regulatory Agreement ") that the Parties shall execute substantially <br /> in the form attached hereto as Exhibit D concurrently with the execution of this Agreement, and <br /> which shall be recorded in the Official Records on the Closing Date. <br /> 5.2 Preference for Displacees. Borrower shall provide Eligible Households who have <br /> been displaced by the rehabilitation of the Project a priority in renting units in the Project. <br /> 5.3 Relocation. Households residing in the Project as of the Effective Date shall not <br /> be displaced before suitable replacement housing is available either in the residential units <br /> undergoing rehabilitation, or in comparable replacement housing. Borrower shall ensure that all <br /> occupants of the Property receive all notices, benefits and assistance to which they are entitled in <br /> accordance with California Relocation Assistance Law (Government Code Section 7260 et seq.), <br /> all state and local regulations implementing such law, and all other applicable local, state and <br /> federal laws and regulations (collectively "Relocation Laws ") relating to the displacement and <br /> relocation of eligible persons as defined in such Relocation Laws. Any and all costs incurred in <br /> connection with the temporary and /or permanent displacement and /or relocation of occupants of <br /> the Property, including without limitation payments to a relocation consultant, moving expenses, <br /> and payments for temporary and permanent relocation benefits pursuant to Relocation Laws shall <br /> be paid by Borrower. Borrower shall indemnify, defend (with counsel approved by City) and <br /> hold harmless the Indemnitees from and against any and all Claims arising in connection with <br /> the breach of Borrower's obligations set forth in this Section whether or not any insurance <br /> policies shall have been determined to be applicable to any such Claims. It is further agreed that <br /> City does not and shall not waive any rights against Borrower which it may have by reason of <br /> this indemnity and hold harmless agreement because of the acceptance by City, or Borrower's <br /> deposit with City of any of the insurance policies described in this Agreement. Borrower's <br /> indemnification obligations set forth in this Section shall not apply to Claims arising from the <br /> gross negligence or willful misconduct of the lndemnitees. Borrower's obligations set forth in <br /> this Section 5.3 shall survive the expiration or earlier termination of this Agreement. <br /> 5.4 Maintenance. Borrower shall at its own expense, maintain the Property, the <br /> Improvements and related landscaping and common areas in good physical condition, in good <br /> repair, and in decent, safe, sanitary, habitable and tenantable living conditions in conformity with <br /> all applicable state, federal, and local laws, ordinances, codes, and regulations. Without limiting <br /> the foregoing, Borrower agrees to maintain the Project and the Property (including without <br /> limitation, the residential units, common areas, landscaping, driveways, parking areas, and <br /> walkways) in a condition free of all waste, nuisance, debris, unmaintained landscaping, graffiti, <br /> 1755895.3 15 <br />