AgdaPkt 2003-06-30 - Laserfiche WebLink

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in the name of the Participating Owner and subject only to such liens as may have been approved by the Agency. (5) The Declaration of Affordability Covenants and the Declaration of Redevelopment Covenants, as set forth in Section 6 hereof, and more fully discussed in Section 17 hereof, shall have been recorded against the Property in substantially the same form as attached hereto as Exhibits "E" and "G ", respectively. These two declarations shall be recorded immediately after the recordation of the deed of trust or other security instrument, if any, which secures Participating Owner's obligations to CalHFA. Immediately after recordation of the Declarations of Affordability Covenants and Redevelopment Covenants, the Deed of Trust shall be recorded. The recordation of the relevant instruments in connection with the Loan will be undertaken by an escrow holder acceptable to the Agency, and on instructions approved by the Agency, in such a way as to effectuate the intent of this Agreement. (6) The Participating Owner shall not be, at the time -any advance is requested, in violation of any provision of this Agreement, any attachment hereto, any ordinance of the City or any other law or regulation applicable to the Property or the Project. e. The Agency shall have the right from time -to -time, upon reasonable notice, to review the books and records of the Project and /or the Participating Owner regarding the finances of the Project. _Section 4. Aaencv Assistance FL Indina Procedure Subject to the other provisions hereof, including, without limitation, the conditions precedent set forth in Section 3, above, the proceeds of the Loan shall be disbursed by the Agency from time to time within thirty (30) days of receipt by the Agency of appropriate documentation demonstrating the completion of an item of work covered by the Scope of Development and after the inspection of said work by an authorized agent of the Agency to verify its completion; provided, however, that all requests for disbursement, together with supporting documentation as necessary, shall be submitted prior to the 15t day of the given month. Any submittals received after the 15t day of the given month will be processed in the following month. Section 5. Construction of the Protect. The Participating Owner shall undertake, or cause to be undertaken, the construction and installation of the improvements comprising the Project. The Participating Owner shall be responsible for the 5