RecDoc 2009-095365 - Laserfiche WebLink

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(3) The Executive Director of the Agency or his or her assignees shall approve or disapprove such documents and/or financing commitments or sources in writing within fifteen (15) business days of receipt by the Agency of the documents and information required hereunder. If the documents or commitments are not approved or disapproved within said fifteen (15) days, Participant may give written notice, in accordance with Section 6.01 hereof, that approval will be deemed to be given within seven (7) days after receipt of such notice. If the Agency fails to disapprove such documents or commi tments in wri ting wi thin the seven (7) day period, they will be deemed to be approved. The notice given by Participant must specify the documents or commitments in question and must inform the Agency that approval will be deemed to have been given within seven (7) days if not sooner disapproved. (4) The Agency agrees to provide reasonable assistance to Participant in connection with obtaining Participant's construction and permanent financing, by way of providing information and documents as reasonably requested by said lenders. (5) Participant shall have received all approvals required hereby, including those approvals required by Section 2.02 hereof, and shall have received final approval of (i) any changes in the General Plan or zoning, (ii) variances, (iii) special use permits, (iv) site plan approvals, (v) environmental approvals, or (vi) other approvals under applicable law as are required for Participant's intended use of the Property as described in the Scope of Development. (6) The Declaration of Affordability Covenants as set forth in Section 4.05 hereof, shall have been recorded against the Property in a form and manner acceptable to the Agency and the City and substantially in the same form as Exhibit UC", attached hereto and incorporated herein by this reference. The Declaration of Redevelopment Covenants, as set forth in Section 4.06 hereof, shall have been recorded against the Property in a form and manner acceptable to the Agency and substantially in the same form as Exhibit UD" attached hereto and incorporated herein by this reference. The Declaration of Affordability Covenants and Declaration of Redevelopment Covenants shall be recorded immediately after the recordation of the deed of trust or other security instrument which secures repayment of the Public Assistance. d. The Agency and the City shall have the right from time-to-time, upon reasonable notice, to review the books and records of the Project and/or Participant regarding the finances of the Project. 5