AgdaPkt 2021.02.08 Joint SA PFA - Laserfiche WebLink

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6.B. - Page 10 of 113 conflict with or result in a breach of any statute, rule or regulation, or any judgment, decree or order of any court, board, commission or agency binding on Developer, or any provision of the organizational documents of Developer, or will conflict with or constitute a breach of or a default under any agreement to which Developer is a parry, or will result in the creation or imposition of any lien upon any assets or property of Developer, other than liens established pursuant hereto. (f) Pending Proceedings. Developer is not in default under or in violation of any law or regulation or under any order of any court, board, commission or agency whatsoever, and to the best knowledge of Developer's officers, there are no claims, actions, suits or proceedings pending or threatened against or affecting Developer or the Property, at law or in equity, before or by any court, board, commission or agency. Developer is not the subject of any bankruptcy or insolvency proceeding, and no general assignment or general arrangement for the benefit of creditors or the appointment of a trustee or receiver to take possession of all or substantially all of Developer's assets has been made. 2.2 Project Scope. The Project will include the construction of a 20 -unit residential condominium development on the Property together with parking and related improvements (all of the foregoing are collectively hereinafter referred to as the "Improvements"). 2.3 Financing Plan, Marketing Plan. Developer has previously submitted to the City and the City has approved, Developer's plan for construction and permanent financing for the Project (the "Financing Plan"). The Financing Plan indicates all sources of funds necessary to pay, when due, the estimated costs of the Project, including without limitation hard and soft construction costs, and is accompanied by evidence that all such funds have been firmly committed by Developer, equity investors or lending institutions, subject only to commercially reasonable conditions. The Financing Plan includes development and operating pro formas which set out in detail Developer' s plan for financing the costs of Project construction and the anticipated financing for sale of residential units in the Project to Eligible Households. The approved Financing Plan is attached to this Agreement as Exhibit D. Unless expressly stated otherwise, the terms set forth in the body of this Agreement shall prevail in the event of a conflict between the information set forth in the approved Financing Plan and the terms set forth in the body of this Agreement. As more particularly described in the Regulatory Agreement, Developer shall submit to City for City ' s review and approval a Marketing Plan that describes Developer's plan for marketing the residential units in the Project to Eligible Households. 2.4 Review and Modifications. City staff has reviewed and approved the Financing Plan and Marketing Plan. Proposed modifications to the Financing Plan shall be submitted to the City for review and approval. City staff shall promptly review such proposed modifications, and acting through City's Authorized Representative, the City shall approve such modifications in writing within ten (10) business days following receipt provided that the modifications conform to the requirements of this Agreement and the Regulatory Agreement, as applicable. If the City does not approve proposed modifications, the City shall set forth its objections in writing and notify Developer of the reasons for its disapproval. Developer shall thereafter submit revised plan(s) that address the reasons for disapproval. REV: 01-22-21 PR 23 ATTY/AGR.2020.305/Habitat for Humanity Greater San Francisco (Grant Agreement w/ Exhibits) (Page 6 of 109)