Reso25-02 0024 PC Reso 901 El Camino Real

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Page 17 of 42 Management Agent meets the standard for a qualified management agent set forth above. If the proposed Affordable Units Management Agent meets the standard for a qualified management agent set forth above, the City shall approve the proposed Affordable Units Management Agent by notifying the Affordable Developer in writing. Section 5.3 Performance Review. In addition to the reporting requirements under Section 3.2 above, the City reserves the right to conduct an annual (or more frequently, if deemed reasonably necessary by the City) review of the management practices and financial status of the Affordable Units. The purpose of each periodic review will be to enable the City to determine if the Affordable Units are being operated and managed in accordance with the requirements and standards of this Agreement. The Affordable Developer shall cooperate with the City in such reviews. Section 5.4 Replacement of Management Agent. (a) If, as a result of a periodic review, the City determines in its reasonable judgment that the Affordable Units are not being operated and managed in accordance with any of the requirements and standards of this Agreement, the City shall deliver notice to the Affordable Developer and the Investor Limited Partner identifying the deficiencies of the management agent with regards to the management of the Affordable Units. Within thirty (30) days of receipt by the Affordable Developer of such written notice, City staff and the Affordable Developer shall meet in good faith to consider methods for improving the financial and operating status of Affordable Development. The City shall have the right to review and inspect documents related to the management and operation of Affordable Development. The then acting Management Agent will have a period of thirty (30) days to address the deficiencies identified by the City. If, after initial meeting or after the sixty (60) day cure period runs (commencing from the date of the deficiency notice), the City staff recommends in writing to the Affordable Developer for the replacement of the Management Agent, the Affordable Developer shall identify a replacement Management Agent. (b) Any contract for the operation or management of Affordable Development, entered into by the Affordable Developer shall provide that the contract can be terminated or modified as set forth above. Failure to remove the Management Agent in accordance with the provisions of this Section shall constitute default under this Agreement, and the City may enforce this provision through legal proceedings as specified in Section 6.7, below. Section 5.5 Affordable Site Maintenance. (a) The Affordable Developer agrees, for the entire Term of this Agreement, to maintain all interior and exterior improvements, including landscaping, for Affordable Development in good condition and repair (and, as to landscaping, in a healthy condition) and in accordance with all applicable laws, rules, ordinances, orders and regulations of all federal, state, county, municipal, and other governmental agencies and bodies having or claiming jurisdiction and all their respective departments, bureaus, and officials, and in accordance with the following maintenance conditions: (1) Landscaping. The Affordable Developer agrees to have routine landscape maintenance performed at least every other week, including replacement of dead or ATTY/RESO.0024/PC RESO 901 EL CAMINO REV: 04-11-25 VR