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<br />Declaration of Restrictive Covenants <br />Homekey Program (Round 3) <br />NOFA: 3/29/2023 <br />Owner: City of San Leandro and Housing Consortium of the East Bay <br />Project: 555 Lewelling <br />Approved Date: July 8, 2024 <br />Prep: October 1, 2024 <br />Page 5 of 13 <br /> <br />4. Charges; Liens. Owner shall pay all taxes, assessments, and other <br />charges, fines and impositions attributable to the Property or to the Interim <br />Housing, if any, by Owner making payment, when due, directly to the payee <br />thereof. Owner shall promptly furnish to the Department all notices of amounts due <br />under this paragraph, and where Owner makes direct payments, Owner shall <br />promptly furnish to the Department its receipts evidencing such payments. Owner <br />shall pay when due all encumbrances, charges, and liens on the Property or to the <br />Interim Housing, and shall make payments on notes or other obligations secured <br />by an interest in the Property or Interim Housing, with interest in accordance with <br />the terms thereof. Owner shall have the right to contest in good faith any claim or <br />lien, or payment due thereunder, so long as Owner does so diligently and without <br />prejudice to Department. <br /> <br />5. Building Permits. Owner agrees not to apply for or accept any permits for <br />the construction of improvements on the Property that are inconsistent with the <br />lawful operation of the Interim Housing, as such Interim Housing is described in <br />Exhibit B hereto. <br /> <br />6. Hazard and Liability Insurance and Condemnation. <br /> <br />a. Owner shall keep the Property and the Interim Housing insured <br />against loss by fire and such other hazards, casualties, liabilities and <br />contingencies, and in such amounts and for such periods as required <br />by the Department. All insurance policies and renewals thereof shall <br />be issued by a carrier and in a form acceptable to the Department. <br /> <br />b. In the event of any fire or other casualty to the Property or Interim <br />Housing, or eminent domain proceedings resulting in condemnation <br />of the Property or Interim Housing or any part thereof, the Owner <br />shall have the right to rebuild the Property or the Interim Housing, <br />and to use all available insurance or condemnation proceeds <br />therefor, provided that, as determined by the Department in its sole <br />and absolute discretion, (a) such proceeds are sufficient to rebuild <br />the Property or Interim Housing in a manner that ensures continued <br />operation of the Interim Housing in accordance with the Program <br />Requirements; and (b) no material breach or default then exists <br />under the Standard Agreement. If the casualty or condemnation <br />affects only part of the Property or Interim Housing and if total <br />rebuilding is infeasible, then the insurance or condemnation <br />proceeds may be used for partial rebuilding and/or partial repayment <br />of the Grant. The Department has the right but not the obligation to <br />approve the plans and specifications for any major rebuilding, as well <br />Docusign Envelope ID: 917058E9-A7D0-495A-B516-E1C59F7309B8