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<br />instrument which secures repayment of the Public <br />Assistance. Immediately thereafter, the Deed of Trust <br />shall be recorded. The recordation of the relevant <br />instruments in connection with the Development Grant and <br />the Public Assistance will be undertaken by an escrow <br />holder acceptable to the Agency, and on instructions <br />approved by the Agency, in such a way as to effectuate <br />the intent of this Agreement. <br /> <br />d. The Agency shall have the right from time- <br />to-time, upon reasonable notice, to review the books and <br />records of the Project and/or the Developer regarding the <br />finances of the Project. <br /> <br />e. Agency Assistance Funding Procedure. <br />Subject to the other provisions hereof, including, <br />without limitation, the conditions precedent set forth <br />above, the proceeds of the Development Grant shall be <br />disbursed to the Developer as follows: <br /> <br />Funds will be issued directly from the Agency <br />to the Developer on a reimbursement basis. The Developer <br />will provide the Agency with such documentation as the <br />Agency may reasonably require showing that the Developer <br />has paid the item for which reimbursement is sought. <br />The Agency has the right, but not the obligation, to <br />inspect the Property to verify that work or materials <br />covered in the particular item has been performed or <br />delivered, as applicable. <br /> <br />Section 7. Paragraph b of Section 7.01 of the DDA is <br />hereby amended and shall read in its entirety as follows: <br /> <br />b. This Agreement integrates all of the terms <br />and conditions mentioned herein or incidental hereto, and <br />supersedes all negotiations or previous agreements <br />between the parties with respect to all or any part of <br />the Property and the development thereof. Specifically, <br />and without limiting the effect of this Section, this <br />Agreement supersedes the Memorandum of Understanding <br />entered into between the Agency and the Developer, but <br />shall have no effect on the grant agreement between the <br />parties. <br /> <br />Section 8. <br /> <br />Miscellaneous Provisions. <br /> <br />a. This Amendment No.1, together with the DDA, is the <br />entire agreement between the parties hereto with respect to the <br /> <br />5 <br />