RecDoc2025-000645 Regulatory Agreemnt and Declaration of Restrictive Covenants 557 E. Bayshore

Browse Search

through the Owner, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use, or occupancy, of tenants, lessees, sublessees, subtenants, or vendees of any Affordable Unit or in connection with the employment of persons for the construction, operation and management of any Affordable Unit. (b) Disabled Persons Occupancy. The Project shall be constructed and operated at all times in compliance with the provisions of: (1) the Unruh Act; (2) the California Fair Employment and Housing Act; (3) the United States Fair Housing Act, as amended; and (4) any other applicable law or regulation (including the Americans With Disabilities Act). The Owner agrees to indemnify, protect, hold harmless and defend (with counsel reasonably satisfactory to the City) the City, and its council members, officers, employees, agents and assigns from all suits, actions, claims, causes of action, costs, demands, judgments and liens arising out of the Owner's failure to comply with applicable legal requirements related to housing for persons with disabilities. The provisions of this subsection shall survive expiration of the Term or other termination of this Agreement and shall remain in full force and effect. 4.4 Insurance Requirements. (a) For the entire Term, the Owner or its successors and assigns acquiring title to the Project shall obtain, at their expense, commercial general liability insurance for Project, naming the City as an additional named insured with aggregate limits of not less than Five Million Dollars ($5,000,000), for bodily injury and death and property damage, including coverages for contractual liability and products and completed operations, purchased by Owner or its successors or assigns from an insurance company approved to engage in the business of issuing such insurance in the State, and delivered to the City prior to the issuance of any building permit for any portion of the Affordable Units. Insurance shall be placed with insurers with a current A.M. Best's rating of no less than A-: VII. (b) Prior to commencement of construction, Owner or its successors and assigns acquiring title to the Project shall furnish City with certificates of insurance in form acceptable to City evidencing the required insurance coverage and endorsements evidencing such additional insured status. The certificates shall contain a statement of obligation on the part of the carrier to notify City of any cancellation, termination or non -renewal of the coverage at least thirty (30) days in advance of the effective date of any such cancellation, termination or non -renewal except for ten (10) days advance notice for cancellation due to nonpayment of premium. (c) Upon commencement of construction and continuing until issuance of a certificate of occupancy, Owner or its successors and assigns acquiring title to the Project shall maintain a policy of builder's ("special form perils") insurance in an amount not less than the full insurable cost of the Project on a replacement cost basis. (d) Upon completion of Project construction, Owner or its successors and assigns acquiring title to the Project shall maintain property insurance for 100% of the replacement value of the Project covering risks of direct physical loss and damage (excluding loss caused by earthquake), including a sublimit of coverage for flood or through a separate flood insurance policy, with a flood limit of insurance equal to the maximum flood limit provided under the REV: 10-23-24JB Page 11 of 20 ATTY/AGR.2024.202/Redwood Crossing LLC (557 E. Bayshore (Bldg B) Affordable Hsg Agrmt) (Page 11 of 27)