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Page 4 <br /> <br />CDBG LOAN AGREEMENT <br />BETWEEN THE CITY OF SAN LEANDRO AND <br />BUILDING FUTURES FOR WOMEN AND CHILDREN <br />1.8 NO OBLIGATION TO DISBURSE PROCEEDS UPON DEFAULT. Notwithstanding any <br />other provision of this Agreement, the City shall have no obligation to disburse any portion of the CDBG Loan <br />Proceeds if there is an occurrence of an Event of Default (defined below) under the Loan Documents. <br /> <br />ARTICLE II <br />CONSTRUCTION OF THE IMPROVEMENTS <br /> <br />2.1 CONSTRUCTION SCHEDULE. Participant shall adhere to the schedule attached hereto <br />under the Scope of Work as Exhibit B. Participant must obtain written approval from the City for any changes <br />to the construction schedule. <br /> <br />2.2 QUARTERLY PERFORMANCE AND NARRATIVE REPORTS. Participant shall submit <br />written quarterly performance and narrative reports to the City in the form attached hereto as Exhibit F, and <br />incorporated herein. <br /> <br />ARTICLE III <br />AFFIRMATIVE COVENANTS <br /> <br />3.1 USE OF FUNDS. Participant covenants that it shall use the CDBG Loan Proceeds solely <br />for the purpose of financing the construction of the Improvements in accordance with Section 1.4. <br /> <br />3.2 COMPLIANCE WITH LAWS. Participant covenants to comply with all federal, state and local <br />laws, regulations, ordinances and rules applicable to the Property and the Improvements, including without <br />limitation, all applicable requirements of state and local building codes and regulations, and all applicable <br />statutes and regulations relating to accessibility for the disabled. <br /> <br />3.3 INSURANCE. Borrower shall procure and maintain for the duration of the Agreement the <br />types and amounts of insurance set forth in Exhibit D, attached hereto an incorporated herein by reference. <br /> <br />3.4 MAINTENANCE. Participant shall maintain the Improvements to the City’s standards and <br />repair Improvements at Participant’s own expense for a period of not less than ten (10) years after completion <br />thereof. <br /> <br />3.5 INDEMNIFICATION. Participant shall indemnify, defend (with counsel reasonably <br />acceptable to City), and hold harmless the City and its respective elected and appointed officials, officers, <br />agents, and employees (collectively the Indemnitees"), from and against, and shall pay on demand, any and <br />all losses, liabilities, damages, costs, claims, demands, penalties, fines, orders, judgments, injunctive or other <br />relief, expenses and charges (including attorneys’ fees and expenses of attorneys) (collectively “Liabilities”) <br />arising directly or indirectly in any manner in connection with or as a result of (a) any breach of Participant’s <br />covenants under the Loan Documents, (b) any failure of Participant’s representations and warranties to be <br />true and correct in all material respects when made, (c) injury or death to persons or damage to property or <br />other loss occurring on the Property, whether caused by the negligence or any other act or omission of <br />Participant or any other person or by negligent, faulty, inadequate or defective design, building, construction <br />or maintenance or any other condition or otherwise, or (d) any claim, demand or cause of action, or any <br />action or other proceeding, whether meritorious or not, brought or asserted against any Indemnitee which <br />363