RecDoc2023-000975 Harbor View Property LLC.

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Section 3.5 On-site Inspection. The City shall have the right to perform an on-site inspection of the Project during normal business hours at least one (1) time per year upon forty- eight hours (48) prior written notice and subject to the rights of tenants under their respective leases. The Owner agrees to cooperate in such inspection. Section 3.6 Monitoring Fee. Owner shall be obligated to pay to City an annual Affordable Housing Monitoring Fee in the amount set forth in the City's Master Fee Schedule for each residential unit in the Project that is subject to the affordability restrictions set forth herein. This fee is payable at initial lease -up of each residential unit and upon each annual review. The City will not charge an annual monitoring fee in the same year that the City charges a fee in connection with the initial lease -up. If the City determines, in the exercise of its reasonable discretion, that the Project requires additional technical assistance or compliance monitoring in an amount in excess of the typical time required for comparable projects, the City shall give the Owner a detailed explanation of the deficiencies and Owner shall have ten (10) days to address the issues identifies. If the City determines that the issues have not been adequately addressed, Owner shall pay City for such additional costs at the rate of $211 per hour, as may be updated from time to time by the City's Master Fee Schedule. All compliance monitoring and technical assistance fees shall be payable to City within fifteen (15) days following City's written request for payment, and City shall have the right to file a lien against the Property if such fees are not paid within thirty (30) days of such written request. If in any year Owner demonstrates to the City's satisfaction there is insufficient Project cash flow available to pay the annual monitoring fee, the City will permit the fee to be deferred. Any deferred amounts shall accrue and shall be payable from future Project cash flow and until such deferred amounts are paid, Owner shall submit to the City annually a Project cash flow statement. At any time that St. Francis is the Owner, the fees to be charged by the City pursuant to this Section 3.6 shall not exceed [INSERT FOR 36, 44 AND 70 RENATO COURT—"Five Thousand Dollars ($5,000.00)" OR INSERT FOR 86 RENATO COURT - "One Thousand Four Hundred Dollars ($1,400)"] in any calendar year. ARTICLE 4. OPERATION OF THE AFFORDABLE PROJECT Section 4.1 Residential Use. The Project shall be operated only for residential use. No part of the Project shall be operated as transient housing in which the term of Resident occupancy is less than thirty (30) days. Section 4.2 Taxes and Assessments. Owner shall pay all real and personal property taxes, assessments, if any, and charges and all franchise, income, employment, old age benefit, withholding, sales, and other taxes assessed against it, or payable by it, at such times and in such manner as to prevent any penalty from accruing, or any line or charge from attaching to the Project; provided, however, that Owner shall have the right to contest in good faith, any such taxes, assessments, or charges. In the event Owner exercises its right to contest any tax, assessment, or charge against it, Owner, on final determination of the proceeding or contest, shall immediately pay or discharge any decision or judgment rendered against it, together with all costs, charges and interest. Nothing herein shall prohibit Owner from applying for and obtaining the welfare tax exemption pursuant to Section 214(g) of the California Revenue and Taxation Code. AM/AGR/2022.389/HARBOR VIEW Exhibit F-9 PROJECT DEVELOPMENT AGREEMENT REV: 10-28-2022 VR