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2890662.3 42
<br />which such parties acknowledge and accept this Agreement and agree to be bound
<br />hereby.
<br />Owner agrees for itself and for its successors that in the event that a court of
<br />competent jurisdiction determines that the covenants herein do not run with the land,
<br />such covenants shall be enforced as equitable servitudes against the Property and the
<br />Project in favor of City.
<br />6. Property Management; Repair and Maintenance; Marketing.
<br />6.1 Management Responsibilities. Owner shall be responsible for all
<br />management functions with respect to the Property and the Project, including
<br />without limitation the selection of tenants, certification and recertification of
<br />household income and eligibility, evictions, collection of rents and deposits,
<br />maintenance, landscaping, routine and extraordinary repairs, replacement of capital
<br />items, and security. City shall have no responsibility for management or maintenance
<br />of the Property or the Project.
<br />6.2 Management Entity. City shall have the right to review and approve
<br />the qualifications of the management entity proposed by Owner for the Project. The
<br />contracting of management services to a management entity shall not relieve
<br />Owner of its primary responsibility for proper performance of management duties.
<br />[City approves Eden Housing Management, Inc. as the initial property management
<br />entity for the Project.]
<br />No later than six (6) months following commencement of Project construction,
<br />Owner shall submit for City review and approval, a proposed management contract
<br />(“Management Contract”). The Management Contract shall describe the services to be
<br />provided by the management entity, including without limitation, marketing, tenant
<br />qualification and certification, maintenance, and repairs. During the term of this
<br />Agreement, City shall have the right to review and approve any proposed amendments to
<br />the Management Contract, any new management contracts, and any new management
<br />entity proposed for the Project. If City has not responded to any submission of the
<br />Management Contract, the proposed management entity, or a proposed amendment or
<br />change to any of the foregoing within 20 business days following City’s receipt of such
<br />plan, contract, amendment, or proposal the plan, contract, amendment or proposal shall
<br />be deemed approved.
<br />6.3 Repair, Maintenance and Security. Throughout the term of this
<br />Agreement, Owner shall at its own expense, maintain the Property and the Project in
<br />good physical condition, in good repair, and in decent, safe, sanitary, habitable and
<br />tenantable living conditions in conformity with all applicable state, federal, and local laws,
<br />ordinances, codes, and regulations. Without limiting the foregoing, Owner agrees to
<br />maintain the Project and the Property (including without limitation, the residential units,
<br />common areas, landscaping, driveways, parking areas and walkways) in a condition
<br />free of all waste, nuisance, debris, unmaintained landscaping, graffiti, disrepair,
<br />abandoned vehicles/appliances, and illegal activity, and shall take all reasonable steps
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