Agmt10 Cedar Street Apartments, Inc.

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CHDO shall use 7 HOME - assisted units in the Property exclusively for supportive housing for individuals with mental health disabilities for a period of not Tess than 15 H discontinues the above - stated use at the subject Property, years. If CHDO � p y, or uses the Property or any portion thereof, for purposes other than what has been described in this Paragraph without first obtaining the prior written consent of the City, CHDO shall be in default of this Agreement and agrees to pay the City, upon demand, the full amount of HOME funds provided to assist in the rehabilitation of this property, provided however, that CHDO shall have Thirty (30) Days to cure the default after receipt of a Notice of default is provided in writing by City and Agency. The restrictions imposed upon the Property (as set forth in Section A5, above) shall remain in full force and effect for the term of fifty -five (55) years. CHDO warrants to City that it will use and account for all funds provided hereunder strictly in accordance with standards governing the use of, and accountability for, funds held and disbursed in trust. CHDO's program funded hereunder shall conform to the highest standards providing for programs of similar or like nature in the San Francisco Bay Area, and in conformance with Building Codes and Regulations. CHDO shall be responsible for, and hold City harmless from, any failure to adhere to such standards. CHDO shall verify that all activities funded hereunder benefit only residents within City's corporate limits. E. NONPROFIT STATUS OF CONTRACTOR CHDO agrees to maintain its status as a nonprofit corporation and that its failure to do so shall be grounds for termination of this Agreement, and acceleration of the Note. F. FORM OF SUBSIDY Financial assistance provided hereunder shall be in the form of a grant. The term of the grant shall be $239,744.68 with services hereunder provided to low income mental health disabled individuals for a period no less than fifty -five (55) years. Funds shall be disbursed to Cedar Street Apartments, Inc. as work progresses and such work is acceptable to the City and upon receipt of approved invoices on City provided forms. Agency is providing matching funds credit on behalf of CHDO from Redevelopment Housing Funds for this activity. Agency shall report matching funds to HUD as required under Section 92.221. Applicable federal statutes and regulations, as referred to elsewhere herein govern this Agreement. Any material deviation by CHDO for any reason from the requirements thereof, or from any other provision of this Agreement, shall constitute a breach of this Agreement and may be cause for termination at the election of City or upon the direction of HUD. City may terminate this Agreement for cause after giving CHDO notice of any breach or default and thirty (30) days to cure said breach or default, provided however, that in the event such breach or default cannot be cured within thirty (30) days, CHDO shall have such additional time to cure said default as is reasonably required provided that CHDO has commenced to cure within the initial thirty ATTY /AG R/2010.064 13 072910