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receipt of the request to amend the Management Plan, which approval shall not be unreasonably denied. If the change to the Management Plan is disapproved by the City, the City shall deliver a written notice to the Developer setting forth, in reasonable detail, the reasons for such disapproval. The Developer shall have fifteen (15) calendar days following the receipt of such notice to submit a revised Management Plan modification in any way necessary to ensure that such policies comply with the provisions of this Agreement. The City's approval of the amendments to the Management Plan shall not be unreasonably withheld. Section 5.9 Resident Services Plan and Resident Services Budget. (a) Developer hereby agrees to contract for a resident services coordinator at least one (1) month prior to completion of the Improvement pursuant to Section 4.4 above. The Developer shall submit to the City and initial proposed Resident Services Plan and Resident Services Budget no later than six (6) months after the commencement of construction of the Development pursuant to the Development Schedule as set forth in Section 4.3 above. Each year thereafter, within sixty (60) days of the end of the Developer's fiscal year, the Developer shall furnish to the City a draft Resident Services Plan and Resident Services Budget. Upon receipt by the City of the proposed Resident Services Plan and Resident Services Budget, the City shall promptly review the same and approve or disapprove the Resident Services Plan and the Resident Services Budget within ten (10) business days. If the Resident Services Plan or Resident Services Budget are not approved by the City, the City shall set forth in writing and notify the Developer of the City's reasons for withholding such approval, which may include a request by the City for a change in the nature or scope of resident services or a change in service provider. The Developer shall thereafter submit a revised Resident Services Plan and Resident Services Budget for City approval, which approval shall be granted or denied within five (5) business days in accordance with the procedures set forth above. (b) The Resident Services Budget shall show required expenditures from Annual Operating Expenses, and may include an annual sum of Thirty -Six Thousand Dollars ($36,000) for Resident Services, provided however the Operating Expenses line item for Resident Services may be increased in such amount approved by the City prior to commencement of the Fiscal Year, pursuant to the procedure for submission and approval of the Resident Services Plan and Resident Services Budget as set forth in Section 5.9(a). Section 5.10 Insurance Requirements. (a) Required Coverage. For the term of the Agreement, the Developer shall maintain and keep in force, at the Developer's sole cost and expense, the insurance applicable to the Development set forth in Exhibit I. Section 5.11 Audits. The Developer shall make available for examination at reasonable intervals and during normal business hours and upon twenty-four hours prior written notice to the City all books, accounts, reports, files, and other papers or property with respect to all matters covered by this Agreement, and shall permit the City to audit, examine, and make excerpts or transcripts from such records. The City may make audits of any conditions relating to this Agreement. REV: 06-17-2020 PR 1199\09\2727850.8 ATTY/AGR.2020.100/353 Main Street Apartments LP (Page 43 of 143)