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DOC SOC/ 1475221 v5/200272 -0004 8OB -12 12.2 Compliance with Laws ................................................................... .............................28 12.3 Taxes and Impositions .................................................................... .............................28 12.4 [Intentionally omitted] ................................................................... 12.5 .............................29 Project Operating Budget ............................................................... .............................29 12.6 Replacement Reserve Account ...................................................... .............................29 13. NONDISCRIMINATION COVENANTS ................................................. .............................29 13.1 Obligation to Refrain from Discrimination .................................... .............................29 13.2 Nondiscrimination in Employment ................................................ .............................30 13.3 Statutory Nondiscrimination Covenants ........................................ .............................30 13.4 In Affordable Housing Restrictions ............................................. ............................... 31 14. ENVIRONMENTAL MATTERS .............................................................. .............................31 14.1 Representation and Warranty ......................................................... .............................31 14.2 Compliance with Environmental Laws .......................................... .............................31 14.3 Presence of Hazardous Materials ................................................... .............................31 14.4 Notice of Environmental Matters ................................................... .............................32 14.5 Environmental Indemnification by the Vista Del Rio .................... .............................32 15. OTHER AFFIRMATIVE COVENANTS .................................................. .............................32 15.1 Existence ...................................................................................... ............................... 32 15.2 Protection of Lien ........................................................................... .............................32 15.3 Notice of Certain Matters ............................................................... .............................32 15.4 Further Assurances ......................................................................... .............................33 15.5 Annual Audited Financial Statements ............................................ .............................33 15.6 Audits and Access to Records ........................................................ 15.7 .............................33 Termite Inspection Report .............................................................. .............................34 16. OTHER NEGATIVE COVENANTS ......................................................... .............................34 16.1 Default on Senior Loan ................................................................ 34 16.2 ............................... Transfers of Interest in Property or Agreement ............................. .............................34 17. [RESERVED] ............................................................................................. .............................36 18. INDEMNIFICATION ................................................................................ .............................36 18.1 Nonliability of Agency and City .................................................... 18.2 .............................36 Indemnity 18.3 ....................................................................................... .............................37 Reimbursement of City and Agency .............................................. .............................37 19. INSURANCE, CASUALTY AND CONDEMNATION ........................... .............................37 19.1 Policies Required ........................................................................... .............................37 19.2 City Attorney and/or City Risk Manager May Modify .................. .............................38 19.3 Claims and Proceedings ................................................................. 19.4 .............................38 Delivery of Proceeds to City /Agency ............................................ .............................38 19.5 Application of Casualty Insurance Proceeds .................................. .............................39 19.6 Method of Disbursement and Undisbursed Funds ....................... ............................... 39 19.7 Failure to Satisfy Conditions .......................................................... 19.8 .............................39 Restoration 19.9 ..................................................................................... .............................39 Condemnation; Treatment Compensation of ................................. .............................40 19.10 Waiver of Subrogation ................................................................... .............................40 DOC SOC/ 1475221 v5/200272 -0004 8OB -12