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ii. Any proposed modifications to the foregoing provisions of the <br />CC&R's will require approval by the Executive Director. <br />6. ANNUAL REVIEW. <br />6.1 City and Owner Responsibilities. The City shall, at least every twelve <br />(12) months during the term of this First Amendment, review the extent of good faith substantial <br />compliance by Owner with the terms of this First Amendment. Pursuant to Government Code <br />Section 65865.1, as amended, Owner shall have the duty to demonstrate by substantial evidence <br />its good faith compliance with the terms of the First Amendment at the periodic review. <br />6.2 Review Letter. If Owner is found to be in compliance with the First <br />Amendment after the annual review set forth in Section 6.1 above, the City shall, upon written <br />request by Owner, issue a Review Letter to Owner (the "Letter") stating that based upon <br />information known or made known to the City Council, the City Planning Commission and/or <br />the Executive Director, the First Amendment remains in effect and Owner is not in default. <br />Owner may record the Letter in the Official Records of the County of Orange. <br />6.3 Failure of Periodic Review. City's failure to review at least annually <br />Owner's compliance with the terms and conditions of this First Amendment shall not constitute <br />or be asserted by any party as a breach of the First Amendment by Owner or City. <br />7. DEFAULT. <br />7.1 Owner Events of Default. Property Owner is in default under this First <br />Amendment upon the happening of one or more of the following events or conditions (each, an <br />"Owner Event of Default"): <br />(1) If a material warranty, representation, or statement made or <br />furnished by Property Owner to the City is false or proves to have been false in any material <br />respect when it was made; or <br />(2) A finding and determination made by the City following a periodic <br />review under the procedure provided for in Government Code Section 65865.1 and Section 6.1 <br />of this First Amendment that upon the basis of substantial evidence the Property Owner has not <br />complied in good faith with one or more of the material terms or conditions of this First <br />Amendment; <br />(3) Failure to comply with Governmental Requirements; <br />(4) Any other event, condition, act, or omission which materially <br />interferes with the intent and objectives of this First Amendment. <br />io <br />75D-194 <br />