25F - AGMT - 605-611 EAST WASHINGTON ST LOAN

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(c) Agreement by the tenant not to hold the owner or the owner's agent legally responsible for any action or failure to act, whether intentional or negligent; (d) Agreement of the tenant that the owner may institute a lawsuit without notice to the tenant; (e) Agreement by the tenant that the owner may evict the tenant or household members without instituting a civil court proceeding in which the tenant has the opportunity to present a defense, or before a court decision on the rights of the parties; (f) Agreement by the tenant to waive any right to a trial by jury; (g) Agreement by the tenant to waive the tenant's right to appeal, or to otherwise challenge in court, a court decision in connection with the lease; and (h) Agreement by the tenant to pay attorney's fees or other legal costs even if the tenant wins in a court proceeding by the owner against the tenant The tenant, however; may be obligated to pay costs if the tenant loses. 1208. Project Operating Budget. Developer must promptly deposit all project income directly into a segregated depository account established exclusively for the Project ("Project Operating Account") in accordance with the Operating Budget prepared by Developer and approved by the Executive Director each year. Withdrawals from this account may be made only in accordance with the provisions of this Agreement and the approved Operating Budget, as it may be revised from time to time with Agency/City approval. Developer may make withdrawals from this account solely for the payment of project expenses and project fees included in the approved Operating Budget. Withdrawals from this account for other purposes may be made only with the prior written approval of the Agency/City. 1209. Replacement Reserve Account. Developer must establish or cause to be established a segregated interest-bearing replacement reserve depository account ("Replacement Reserve Account") no later than sixty (60) days after the Notice of Completion is filed. Developer must make monthly deposits from project income into the Replacement Reserve Account in accordance with the approved Annual Budget, as amended from time to time. Developer may withdraw funds from the Replacement Reserve Account solely to fund capital improvements for the Project, such as replacing or repairing structural elements, furniture, fixtures or equipment of the Project that are reasonably required to preserve the Project. Developer may not withdraw funds from the Replacement Reserve Account for any other purpose without the prior written approval of the Agency/City. 1210. Monitoring and Recordkeeping. Throughout the Term of this Agreement, Developer shall comply with all applicable recordkeeping and monitoring requirements set forth in the Redevelopment Law and the HOME Program, including Section 92.508 (or successor regulation) of the HOME Regulations and Section 33418 of the Redevelopment Law, and shall annually complete and submit to Agency/City a Certification of Continuing Program Compliance substantially in the form of Exhibit N hereto, or other form provided by the Executive Director. Representatives of the Agency and City shall be entitled to enter the Property, upon at least twenty-four (24) hours notice, to monitor compliance with this Agreement, to inspect the records of the Project, and to conduct an independent audit or inspection of such records. Developer agrees to cooperate with City in making the Property and all Housing Units thereon available for such inspection or audit. 40 25F-46