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I <br /> EXHIBIT 2 <br /> (b) Code_Compliance. Compliance with California Health and Safety Code <br /> and applicable regulations set forth in Section 34176. <br /> (e) Environmental Review. Compliance with and completion of <br /> environmental review of the Project pursuant to the California Environmental Quality Act <br /> ("CEQA") and the National Environmental Policy Act ("NEPA"), and review by the State <br /> Historic Preservation Offices ("SHPO"). <br /> (d) Recordation of RegulatorA eement. The ten(10) "Affordable Units" at <br /> the Project shall and will be rented to Qualified Homeless Youth and Qualified Seniors who <br /> qualify as Extremely Low Income and Very Low Income for an Affordable Rent for a period of <br /> fifty-five (SS) years, in accordance with the Regulatory Agreement, which shall be recorded <br /> against the Project in the Official Records, County of Orange, California("Official Records"), <br /> subject only to those matters of public record to which the City agrees to in writing. Grantee <br /> will have a local preference for individuals who live, work or attend public schools in the City <br /> of Santa Ana in the selection of eligible residents. <br /> (e) Recordation of the City Deed of Trust. The City Deed of Trust shall be <br /> recorded against the Property in the Official Records, subject only to those matters of public f <br /> record to which the City agrees to in writing. <br /> (f) Insurance. City shall have received evidence satisfactory to the City j <br /> Attorney that all of the policies of insurance required by Section 19 of this Agreement are in full j <br /> force and effect. <br /> (g) Re resentations and Warranties. The representations and warranties of <br /> Grantee contained in this Agreement shall be correct in all material respects as of the date of <br /> disbursement as though made on and as of that date,and if requested by the City Project Manager, <br /> City shall have received a certificate to that effect signed by Grantee's Representative. <br /> (h) No Default. No Event of Default by Grantee shall have occurred, and no <br /> event shall have occurred which, with the giving of notice or the passage of time or both, would <br /> constitute an Event of Default by Grantee under this Agreement, and if requested by the City <br /> Project Manager, City shall have received a certificate to that effect signed by Grantee's <br /> Representative. <br /> (i) Satisfactory Progress. The City Project Manager shall be satisfied that, <br /> based on his/her own inspections or other reliable information,the construction is progressing <br /> satisfactorily in conformance with all applicable laws and other requirements. <br /> {j) Condition of Title. The City Project Manager reasonably believes that no <br /> event has occurred that would give rise to a colorable claim against the Property (e.g., a <br /> mechanic's lien) superior to the claim of City against the Property with respect to the subject <br /> disbursement, or if such claim is made,then City Project Manager shall receive satisfactory <br /> evidence that such claim has been bonded over until its resolution. <br /> i <br />