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b. To the extent permissible under laws and regulations protecting individual <br /> confidentiality, to have access to, to inspect, and to make copies and to audit all <br /> books and records of the Developer pertaining to the Project; <br /> c. To cause the Developer to pay to the City, if the thirty (30) days cure <br /> period has been exceeded and no cure has been achieved, or commenced, as <br /> applicable, as a penalty, an amount equal to all rent received by the Developer with <br /> respect to HOME Assisted Units, if HOME Assisted Units are knowingly or grossly <br /> negligently rented to person who do not comply with the requirements of such <br /> HOME Assisted Units. <br /> d. To conduct an evaluation of, and direct the Developer with respect to, the <br /> management and operation of the Project in accordance with this Agreement. The <br /> reasonable expenses of the City or any consultants associated with such evaluation <br /> and direction shall be reimbursed by the Developer. The Developer shall follow all <br /> such directives, which may, at the option of the City, include replacing existing <br /> management with new management. In the event such default includes the failure of <br /> the Developer to make any required payment to the City in a timely manner, or the <br /> imminent closure of the Project, the City may at its sole discretion select the new <br /> management. The City may retain attorneys and consultants to assist in such <br /> evaluation and the Developer shall pay the reasonable fees and expenses of such <br /> attorneys of consultants and any other expenses incurred by the City in that <br /> connection. <br /> e. Notwithstanding any other provision of the law relating to the acquisition, <br /> management or disposal of real property by the State, the City shall have the power <br /> to do any or all of the following: <br /> I. Possess, operate, complete, lease, rent, renovate, modernize, insure, <br /> or sell for cash or credit, in its sole discretion any properties conveyed to it in <br /> exchange for debentures as provided in the Insurance Law. <br /> 2. Pursue to final collection by way of compromise or otherwise all <br /> claims against the Developer assigned by Developer to the City; or <br /> 3. Convey and execute in the name of the City deeds of conveyance, <br /> deeds of release, assignments and satisfactions of the Deed of Trust, and any other <br /> written instrument relating to real or personal property or any interest therein <br /> acquired by the City. <br /> 8 <br />