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and leasing of the Affordable Units pursuant to this Agreement or actions taken or omitted (where there was a duty to act) by OWNER under this Agreement (collectively, "Claims") , except to the extent any such Claims are caused by the illegal acts , negligence or willful misconduct of the City or its respective officers, officials, agents, employees, representatives, and volunteers. This indemnity covenant will survive the expiration or earlier termination of this Agreement. Section 6. 03. Insurance. OWNER must maintain an all-risk property insurance policy insuring all rental Affordable Units in an amount equal to the full replacement value of all of the rental Affordable Units, in a form, content and with companies reasonably acceptable to the City. The OWNER agrees to notify the City at least 30 days in advance of any material change, cancellation or termination of coverage. OWNER must transmit a copy of the certificate of insurance to City within 30 days of the final certificate of occupancy obtained for the first Affordable Unit. Thereafter, OWNER must annually transmit to City with the Annual Report a copy of the certificate of insurance signed by an authorized agent of the insurance carrier setting forth the general provisions of coverage. The OWNER and the City agree to modify and amend any of the foregoing requirements that become impracticable, uneconomical or impossible to obtain by the OWNER from industry standard insurers who customarily provide the types of coverage required hereunder. The Parties agree to act reasonably with regard to any such modifications and amendments. Section 6.04. Assignment. This Agreement is binding upon OWNER and its executors, administrators, and assigns, and all persons claiming under or through OWNER. Wherever this Agreement employs the term "OWNER" it will be deemed to include its executors, administrators, and assigns, and all persons claiming under or through OWNER. Except for a sale of the Property or any portion of the Property, OWNER may not voluntarily assign any of its rights or obligations under this Agreement. In the event OWNER assigns its interest in this Agreement, in whole or in part, in connection with a conveyance of all or any portion of the Property, then OWNER will be released from its liabilities and obligations under this Agreement to the extent such liabilities and obligations are assumed by its assignee or successor. Section 6.05. Maintenance of Property. During such time as the Affordability Covenants set forth in this Agreement are in effect, all improvements developed upon the Property, including without limitation , the Affordable Units, hardscaping and landscaping , shall at all times be maintained in a neat and orderly condition, good order and repair, consistent with good ownership practices, and in accordance with all applicable Federal, State and local laws. Section 6. 06. Events of Default; Enforcement. In the event of a default in the performance or observance of any covenant, agreement or obligation as set forth in this Agreement and , if such default remains uncured for a period of thirty (30) days after notice given by the City, or for defaults that cannot be reasonably cured within thirty (30) days after notice, if OWNER is not diligently pursuing to completion the cure, or such longer period as may be approved by the City in writing in its sole discretion , then the City may declare that an Event of Default has ATTY/AGR/2016.243/849 VETERANS AFFORDABLE HOUSING AGREEMENT REV: 08-30-16 VR Page 7 of 12