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2.7 City Review and Inspections (1) Upon not less than forty-eight (48) hours' notice to Borrower, the City may at any time during the term of this Agreement, enter and inspect the physical premises and inspect all accounting records pertaining to the development or operation of the Project. Upon request by the City, Borrower shall notify occupants of upcoming inspections of their units in accordance with State law. (2) The City may request any other information that it deems necessary to monitor compliance with requirements set forth in this Agreement. Such information shall be promptly provided by Borrower. 2.8 Restrictions on Sale, Encumbrance, and Other Acts (1) Borrower shall not make any sale, encumbrance, hypothecation, assignment, pledge, conveyance, or transfer in any form of the Project or of any of its interest therein without prior written approval of the City, which shall not be unreasonably withheld. (2) Borrower shall not permit the use of the Project for any purpose other than that permitted by this Agreement without the prior written approval of the City. (3) The City may approve a sale, transfer or conveyance provided that all of the following conditions are met: (A) Borrower is in compliance with this Agreement or the sale, transfer or conveyance will result in the cure of any existing violations of this Agreement; (B) the successor -in- interest to Borrower agrees to assume all obligations of the existing Borrower pursuant to this Agreement and the HOME Program; (C) the successor -in- interest demonstrates to the City's satisfaction that it can own and operate the Project in full compliance with all HOME Program requirements; and (D) any terms of the sale, transfer or conveyance shall not threaten the City's security or the successor's ability to comply with all HOME Program requirements. (4) The City may grant any approval for a sale, transfer or conveyance subject only to such terms and conditions as may be necessary to ensure compliance with HOME Program requirements. 2.9 Assignment of City Rights The City retains the right at its sole discretion to assign all or part of its rights under this Agreement for the purpose of ensuring compliance and enforcement of Borrower's duties and obligations hereunder. In addition, the City may designate an agent to act on its behalf in monitoring compliance and enforcing the provisions hereof. 2.10 Fees Borrower shall be responsible for payment of all customary and fees and charges in connection with the processing of City, and all other applicable permits and approvals for the Project. 1908324.5