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10.1. Permits and Approvals. Developer shall diligently obtain all permits, <br />including all building permits, licenses, approvals, exemptions and other authorizations of <br />Governmental Agencies required in connection with the construction of the Property. <br />10.2. Commencement and Completion of Construction. The construction <br />shall be considered complete for purposes of this Agreement only when: (a) all work <br />described has been completed and fully paid for; and, (b) all work requiring inspection or <br />certification by Governmental Authority has been completed and all requisite certificates, <br />approvals and other necessary authorizations for use of the Property as an affordable rental <br />housing development (including required final certificates of occupancy) have been <br />obtained. <br />10.3. Compliance with 24 CFR § 92.354 and State Prevailing Wage Law. <br />Pursuant to the HOME -ARP Program, every contract for the construction of the Project <br />must contain a provision requiring the payment of not less than the wages prevailing in <br />the locality, as predetermined by the Secretary of Labor pursuant to the Davis -Bacon Act <br />(40 U.S.C. 3141), to all laborers and mechanics employed in the development of any part <br />of the housing. Such contracts must also be subject to the overtime provisions, as <br />applicable, of the Contract Work Hours and Safety Standards Act (40 U.S.C.§ 3701). To <br />the extent applicable and not inconsistent with the foregoing, Developer agrees to comply <br />with the requirements of the California Department of Industrial Relations Prevailing <br />Wage Requirements. <br />10.4. Entry and Inspection. At all times prior to completion of the construction, <br />upon reasonable notice of no less than two (2) business' days, City and their agents shall <br />have: (a) the right of free access to the Property and all sites away from the Property where <br />materials for the construction are stored; (b) the right to inspect all labor performed and <br />materials furnished for the construction; and, (c) the right to inspect and copy all documents <br />pertaining to the construction. <br />10.5. Compliance with Section 3 Clause. Section 3 of the Housing and Urban <br />Development Act of 1968, 12 U.S.C. 1701u, as amended by Section 915 of the Housing <br />and Community Development Act of 1992, requires that economic opportunities generated <br />by HUD financial assistance for housing and community development programs be <br />targeted toward low- and very low- income persons. Whenever HUD assistance generates <br />opportunities for employment or contracting, state and local grantees, as well as other <br />recipients of HUD housing assistance funds must, to the greatest extent feasible, provide <br />these opportunities to low- and very low- income persons and to businesses owned by or <br />employing low- and very low- income persons. Section 3 applies to projects for which <br />HUD's share of project costs exceeds $200,000 and contracts and subcontracts awarded on <br />projects for which HUD's share or project costs exceeds $200,000 and the contract or <br />subcontract exceeds $100,000. <br />For purposes of this Section 3 Clause and compliance thereto, whenever the <br />word "contractor" is used it shall mean and include, as applicable, the Developer, and its <br />contractor and subcontractor(s), if any. The particular text to be utilized in any and all <br />contracts of any contractor doing work covered by Section 3 shall be in substantially the <br />26 <br />W [SEPlace Permanent Supportive [lousing <br />City HOME -ARP Loan Agreement <br />