Reso25 16296 - Laserfiche WebLink

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to occupancy of the Affordable Units for a period of at least five (5) years. The City shall notify Affordable Developer of any records it deems insufficient. Affordable Developer shall have thirty (30) days after the receipt of such a notice to correct any deficiency in the records specified by the City in such notice, or if a period longer than thirty (30) days is reasonably necessary to correct the deficiency, then Affordable Developer shall begin to begin to correct the deficiency within thirty (30) day and correct the deficiency as soon as reasonably possible. Section 3.5 On-site Inspection. The City shall have the right to perform an on-site inspection of Affordable Development at least one (1) time per year upon forty-eight hours (48) prior written notice and subject to the rights of Residents under their respective leases during reasonable business hours. Affordable Developer agrees to cooperate in such inspection. ARTICLE 4 OPERATION OF THE AFFORDABLE DEVELOPMENT Section 4.1 Residential Use. Affordable Development shall be operated only for residential use. No part of Affordable Development shall be operated as transient housing in which the term of occupancy is less than thirty (30) days. No part of the Affordable Development may be operated as an emergency shelter (including shelter for disaster victims) or facilities such as nursing homes, convalescent homes, hospitals, residential treatment facilities, correctional facilities, halfway houses, housing for students, or dormitories (including farmworker dormitories). Section 4.2 Taxes and Assessments. The Affordable Developer shall pay all real and personal property taxes, assessments 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 lien or charge from attaching to the Affordable Development; provided, however, that Affordable Developer shall have the right to contest in good faith, any such taxes, assessments, or charges. In the event Affordable Developer exercises its right to contest any tax, assessment, or charge against it, Affordable Developer, 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 Affordable Developer from applying for and obtaining the welfare tax exemption pursuant to Section 214(g) of the California Revenue and Taxation Code. Section 4.3 Notice of Litigation. Affordable Developer shall promptly notify the City in writing of any litigation materially affecting Affordable Developer or Affordable Development and of any claims or disputes that involve a material risk of such litigation. Section 4.4 Insurance Requirements. For the entire Term, the Affordable Developer or its successors and assigns acquiring title to the Affordable Site shall obtain, at their expense, commercial liability insurance for Affordable Development, naming the City as an additional named insured for the amount of Two Million ($2,000,000.00) per occurrence. If the submitted policies contain aggregate limits, such limits will apply separately to the Affordable Site, or the aggregate will be twice the required per occurrence limit. The General Liability policy will have comprehensive coverage for bodily injury and death and property damage, including coverages for contractual liability and products and completed operations, purchased by Affordable ATTY/RESO.0029/CC RESO APPROVING ARCHITECTUAL PERMIT, TENTATIVE PARCEL MAP (920 SHASTA) - EXHIBIT C REV: 04-22-25 VR Page 178 of 224