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with Project tenants. Owner shall abide by the terms of the Marketing and <br />Management Plan in marketing, managing, and maintaining the Property and the <br />Project, and throughout the term of this Agreement, shall submit proposed <br />modifications to City for its review and approval. <br />6.5 Approval of Amendments. If City has not responded to any submission of the <br />Management and Marketing Plan, the proposed management entity, or a proposed <br />amendment or change to any of the foregoing within 30 days following City's <br />receipt of such plan, proposal or amendment, the plan, proposal or amendment <br />shall be deemed approved by City. <br />6.6 Fees, Taxes, and Other Levies. Owner shall be responsible for payment of all <br />fees, assessments, taxes, charges, liens and levies, including without limitation <br />possessory interest taxes, if applicable, imposed by any public authority or utility <br />company with respect to the Property or the Project, and shall pay such charges <br />prior to delinquency. However, Owner shall not be required to pay any such <br />charge so long as: i) Owner is contesting such charge in good faith and by <br />appropriate proceedings, ii) Owner maintains reserves adequate to pay any <br />contested liabilities, and iii) On final determination of the proceeding or contest, <br />Owner immediately pays or discharges any decision or judgment rendered against <br />it, together with all costs, charges and interest. <br />6.7 Insurance Coverage. Prior to issuance of building permits for the Project, and <br />continuing throughout the term of this Agreement Owner shall comply with the <br />insurance requirements set forth in the Loan Agreement, and shall, at Owner's <br />expense, maintain in full force and effect insurance coverage as specified in the <br />Loan Agreement; provided however, during such time that lenders or low-income <br />housing tax credit investors providing financing for the Project impose insurance <br />requirements that are inconsistent with the requirements set forth in the Loan <br />Agreement, Owner may satisfy the requirements of this Section by meeting the <br />requirements of such lenders or investors. Notwithstanding the foregoing, <br />throughout the term hereof, Owner shall comply with the provisions of the Loan <br />Agreement pertaining to (i) provision to City of proof of insurance for the Project, <br />(ii) naming of City as additional insured, and (iii) provision to City of notice of <br />cancellation or reduction in coverage. <br />6.8 Property Damage or Destruction. If any part of the Project is damaged or <br />destroyed, Owner shall repair or restore the same, consistent with the occupancy <br />and rent restriction requirements set forth in this Agreement. Such work shall be <br />commenced within 180 days after the damage or loss occurs and shall be <br />completed within one year thereafter, provided that insurance proceeds are <br />available to be applied to such repairs or restoration within such period and the <br />repair or restoration is financially feasible. <br />7. Recordation; No Subordination. This Agreement shall be recorded in the Official <br />Records of Alameda County. Owner hereby represents, warrants and covenants that with <br />the exception of easements of record, if any, absent the written consent of City, this <br />13 <br />