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b. Commencing with the year that a temporary or permanent certificate of <br />occupancy is issued for one or more units of the Development, Developer shall submit to the <br />City of San Leandro (or such other entity as the City shall from time to time designate in <br />writing), by not later than July 1st of each year, an annual report and certification in the form <br />required by the City. For each affordable unit the report shall include at a minimum: (1) the <br />number of persons in the unit; (2) tenant name; (3) initial occupancy date; (4) rent paid per <br />month; (5) annual gross income of the tenant; (6) percent of rent and utility allowance per month <br />in relation to gross income; and (7) copies of those documents used by Developer to certify or re- <br />certify the tenant, if requested by the City. <br />18. Use of Income from Operations. Developer, or its management agent, shall promptly <br />deposit all operating income in a segregated account established exclusively for the Development <br />with an FDIC- or other comparable federally-insured financial institution. <br />19. Common Areas. Developer shall maintain the exterior walls, windows, lighting, <br />walkways, mailboxes, landscaping, nonresidential space, and other common areas of the <br />Development in safe, clean, and well maintained condition and in good working order. <br />20. Hazard and Liability Insurance. Developer shall at all times, including during <br />construction, cause the Development to be insured against loss by fire, and such other hazards, <br />casualties, liabilities and contingencies, and in such amounts and for such periods as are <br />reasonably acceptable to the City, all in accordance with the requirements of the City. All <br />insurance policies and renewals thereof shall be issued by a carrier and in a form acceptable to <br />the City. Property insurance policies shall name the City as an additional insured, as approved <br />by the City. Insurance that meets the requirements of the Loan Agreement shall be deemed to <br />meet the requirement of this Section 20. <br />21. Miscellaneous. <br />a. Assignment of City's Rights. The City retains the right, at its sole discretion, to <br />assign all or part of its rights under this Regulatory Agreement for the purpose of ensuring <br />compliance and enforcement of Developer's duties and obligations hereunder. In addition, the <br />City may designate an agent to act on its behalf in monitoring compliance and enforcing the <br />provisions hereof. <br />b. Amendment. This Regulatory Agreement shall not be altered or amended except <br />in writing, executed by the parties hereto. <br />c. Partial Invalidity. If any portion of this Regulatory Agreement shall be invalid, <br />illegal or unenforceable, the validity, legality and enforceability of the remaining provisions <br />hereof shall not in any way be affected or impaired thereby. <br />d. Binding on Successors. This Regulatory Agreement shall bind, and benefits <br />thereof shall inure to, the respective parties hereto, their legal representatives, executors, <br />administrators, successors in interest, and assigns, provided, however, that except for a transfer <br />to the General Partner of the Developer or an affiliate thereof or as otherwise permitted by the <br />Loan Agreement, the Developer may not assign this Regulatory Agreement or any of its <br />obligations hereunder, voluntarily or by operation of law. <br />144\221\1488729.2