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2890662.3 8 <br />of the City to enter upon the Property to inspect the Project following 24-hours’ written notice <br />(except in the case of emergency in which case such notice as may be practical under the <br />circumstances shall be provided). Upon request, Developer shall permit the City to inspect at <br />reasonable times and on a confidential basis those books, records and all other documents of <br />Developer necessary to determine Developer's compliance with the terms of this Agreement. <br />3.9 City Disclaimer. Developer acknowledges that the City is under no obligation, <br />and neither City undertakes or assumes any responsibility or duty to Developer or to any third <br />party, to in any manner review, supervise, or inspect the progress of construction or the operation <br />of the Project. Developer and all third parties shall rely entirely upon its or their own supervision <br />and inspection in determining the quality and suitability of the materials and work, the <br />performance of architects, subcontractors, and material suppliers, and all other matters relating to <br />the construction and operation of the Project. Any review or inspection undertaken by the City is <br />solely for the purpose of determining whether Developer is properly discharging its obligations <br />under this Agreement, and shall not be relied upon by Developer or any third party as a warranty <br />or representation by the City as to the quality of the design or construction of the improvements <br />constructed on the Property (“Improvements”) or otherwise. <br />3.10 Financing Plan. As set forth in the attached Exhibit __, Developer has provided <br />City with a preliminary financing plan for the Project (“Financing Plan”) which describes <br />(i)the estimated costs of Project development, including acquisition costs, and hard and soft <br />construction costs, (ii) an operating pro forma which describes projected revenue and expenses <br />for the Project, and (iii) identification of sources of construction and permanent financing. <br />Developer has, or anticipates that it will, submit an application to the California Tax Credit <br />Allocation Committee (“TCAC”) for a preliminary tax credit reservation not later than the first <br />funding round of 2019. If Developer, using its good faith best efforts, does not receive a TCAC <br />Preliminary Reservation following Developer’s initial application, Developer shall have the right <br />to reapply for TCAC funding over the next two years through the last funding round of 2020. <br />Not later than sixty (60) days prior to the commencement of construction (see Section <br />3.6) Developer shall provide evidence to City that all sources of funds for Project construction <br />and permanent financing have been firmly committed by Developer, equity investors or lending <br />institutions, subject only to commercially reasonable conditions. <br />3.11 Construction Plans. Developer shall submit to City’s Building Department <br />detailed construction plans for the Project (the “Construction Plans”). As used herein <br />"Construction Plans" mean all construction documents upon which Developer and Developer’s <br />contractors shall rely in building the Project and developing the Property (including the <br />landscaping, parking, and common areas) and shall include, without limitation, the site <br />development plan, final architectural drawings, landscaping, exterior lighting and signage plans <br />and specifications, materials specifications, final elevations, and building plans and <br />specifications. The Construction Plans shall be based upon the scope of development set forth <br />herein and upon the development approvals issued by the City for the Project, and shall not <br />materially deviate therefrom without the express written consent of City. <br />30