05 - JOINT PH - Vista Del Rio DDA

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of discrimination or segregation with reference to the selection, location, number, use, or occupancy, of tenants, lessees, sublessees, subtenants, or vendees in the premises herein leased." (c) In Contracts: "There shall be no discrimination against or segregation of, any person or group of persons on account of any basis listed in subdivision (a) or (d) of Section 12955 of the Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of Section 12955, and Section 12955.2 of the Government Code, in the sale, lease, sublease, transfer, use, occupancy, tenure, or enjoyment of the premises which are the subject of this Agreement, nor shall the grantee or any person claiming under or through him or her, establish or permit any practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees, or vendees in the premises herein conveyed. The foregoing covenants shall run with the land." 10.4 In Affordable Housing Restrictions. The foregoing covenants shall (a) be included in the Affordability Restrictions on Transfer of Property, (b) run with the land, and (c) remain effective for the Term hereof. 11. MANAGEMENT OF PROJECT. Not later than five (5) business days prior to the execution of the documents, Vista Del Rio shall submit to the Executive Directors a Management Plan in a form that is acceptable to the Executive Directors, including, but not limited to, the components listed below. Approval of the Management Plan must be obtained from the Executive Directors not later than the time for the Closing. Vista Del Rio shall manage the Assisted Units in accordance with the approved Management Plan, including such amendments as maybe approved in writing from time to time by the Executive Directors, for the term of the income and rent restrictions contained in these Restrictions. The components of the Management Plan shall include: (a) Management Ate. Vista Del Rio shall submit the name and qualifications of the proposed Management Agent. The Executive Directors shall approve or disapprove the proposed Management Agent in writing based on the experience and qualifications of the Management Agent. The John Stewart Company is hereby approved as the initial Management Agent. (b) Management Agreement. Vista Del Rio shall submit a copy of the proposed management agreement specifying the amount of the management fee, and the relationship and division of responsibilities between Vista Del Rio and Management Agent. Such management agreement (including the management fee) shall be reasonably acceptable to the Executive Directors. (c) Project Operating Budget. Prior to the Closing, and annually thereafter not later than 60 days prior to the beginning of the next Calendar Year, Vista Del Rio shall submit a projected operating budget and cash flow ("Operating Budget") to the Executive Directors. The Operating Budget and cash flow shall be in a form that is reasonably acceptable to the Executive Directors. Vista Del Rio must promptly deposit all revenue received with respect to the Project directly into a segregated, interest-bearing depository account established exclusively for the Project ("Project Operating Account"). Withdrawals from the Project Operating Account maybe made only in accordance with the provisions of the Loan Agreement and the Operating Budget approved annually by the Executive Directors, as it maybe revised from time to time with City and Agency approval. Vista Del Rio may make withdrawals from the Project Operating Account solely for the payment of Project expenses and Project fees included in the approved Operating Budget. Withdrawals from the Project Operating Account for other purposes maybe made only with the prior B-13 DO CSOC/ 1475221 v5/200272-0004