RecDoc 2006-042098 NOC - Laserfiche WebLink

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2. OWNER having chosen a Contractor hereby warrants that the Rehabilitation of the structure will be completed in accordance with plans and specifications approved by the City, free and clear of all liens or encumbrances and within the time set forth in the construction contract. 3. OWNER warrants that he/she has exercised Good Faith Efforts in meeting CITY's Non-discrimination and Equal Opportunity and Affirmative Marketing Plan in the recruitment and selection of contractors, subcontractors, suppliers and tenants. Time is of the essence in this agreement, and if the owner defaults in complying with the terms hereof or of the promissory note, or fails to complete fully and punctually all the items listed in this agreement, City shall have the right to call the loan and require payment in full of the entire indebtedness. 4. OWNER acknowledges the objectives of the REDWOOD CITY Home Improvement Loan Program and hereby agrees to allow all funds placed in escrow to be utilized consistent with the objectives of the Home Improvement Loan Program without regard to the source of those funds. If at any time, due to Change Order, or change on site conditions, it appears that the remaining loan proceeds in escrow account would not be sufficient to complete the project as intended, further disbursement of loan proceeds may be suspended until owner has provided sufficient funds to be placed in the open escrow account to ensure completion of the project. All sums disbursed from the escrow account may only be used to complete the rehabilitation of the property or to pay for costs associated with the loan. CITY will not be required to disburse payment for materials not incorporated into the project regardless of whether they are stored on site or off site. 5. OWNER agrees to allow the CITY and its representative the right to enter upon the premises to inspect construction and if such work is not in substantial conformity with the plans and specifications or performed in a good and workmanlike manner, CITY shall have the right to stop the work since such act will constitute a breach of the Agreement. 6. OWNER acknowledges that all units constructed prior to 1973 which may potentially be occupied by a family which includes a child under the age of seven may be subject to require interior and exterior work sufficient to comply with federal lead based paint provisions.