STATE OF CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT "HCD" - (SANTA ANA ARTS COLLECTIVE, L.P. & META HOUSING PROJECT)

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Meta Housing Corporation, City of Santa Ana, and Santa Ana Arts Collective L.P. 16-AHSC-11199 Page 10 of 17 32. Cost Certification At the request of the Department, the Sponsor shall submit an Affordable Housing Development cost certification that shall have been audited by an independent certified public accountant in accordance with the requirements of the Department and TCAC, if applicable, The Sponsor (and the developer or builder if there is an identity of interest with the Sponsor) shall keep and maintain records of all construction costs not representing work done under the construction contract and to make such records available for review by the Department. 33, Recorded Notice of Completion The Sponsor shall provide to the Department a certified copy of any Notice of Completion for the Affordable Housing Development recorded in the county in which the Affordable Housing Development is located. 34. "As -Built" Pians and Specifications Upon completion, at the request of the Department, the Sponsor shall submit "as -built" plans and specifications for the Affordable Housing Development acceptable to the Department. AHSC LOAN CLOSING REQUIREMENTS The Department shall not be obligated to close or fund the AHSC Loan unless the Sponsor has complied with and satisfied all the terms and conditions of the AHSC Guidelines, the NOFA, this Agreement and the representations made in the Application, all in a manner satisfactory to the Department in its sole discretion, on or before the earlier of the AHSC Loan Closing, the AHSC Loan closing deadline or such earlier time, all as indicated herein. 35. Affordable Housinta Development Construction The Affordable Housing Development shall be constructed in compliance with the plans and specifications, subject to any change order(s) accepted by the Department where such acceptance is required. 36. Title Insurance The Sponsor shall provide an updated title report and an ALTA As -Built Survey acceptable to the Department. The Sponsor shall provide a pro forma ALTA lender's policy of title insurance if requested by Department. The Sponsor shall ensure the issuance to the Department of an ALTA lender's policy of title insurance. The condition of title, insurer, liability amount, form of policy and endorsements shall be subject to the approval of the Department. Such endorsements shall include, but not be limited to a CLTA endorsement 100, and may include, but shall not be limited to, CLTA endorsements 105, 110.9 and 116 (modified for apartments). The policy shall insure that the Sponsor holds good and marketable fee simple title (or leasehold, if approved by AHSC Loan - Rental Affordable Housing Development NOFA Date: 01/2.9/16 Approved Date: 03/09/17 Prep Date: 07/20/17