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<br /> <br />CDBG Loan Agreement 7/1/2023 <br />Between City of San Leandro and <br />Building Futures with Women and Children Page 4 of 18 <br />documents related to the development and financing of the Improvements as City may reasonably request; <br />and <br /> <br />(h) No material adverse change as determined by City in its reasonable judgment shall have <br />occurred in the condition of the Property or the Improvements or in the financial or other condition of <br />Participant since the date of this Agreement. <br /> <br /> <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 ARPA and <br />CDBG Loan Proceeds if there is an occurrence of an Event of Default (defined below) under the Loan <br />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 AFFIRMATIVE COVENANTS <br /> <br />3.1 USE OF FUNDS. Participant covenants that it shall use the ARPA and CDBG Loan <br />Proceeds solely for the purpose of financing the construction of the Improvements in accordance with Section <br />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,