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every successor in interest to the Property or any part thereof, there shall be no <br />discrimination against or segregation of any person, or group of persons, on account of <br />race, color, creed, religion, sex, mental or physical disability, marital status, national origin <br />or ancestry in the sale, lease, transfer, use, occupancy, tenure or enjoyment of the Property <br />nor shall the Developer itself or any person claiming under or through it establish or <br />permit any such practice or practices of discrimination or segregation with reference to the <br />selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or <br />vendees of the Property, as required by the Title VI of the Civil Rights Act of 1964, the <br />Fair Housing Act (42 U.S.C. 3601-20) and all implementing regulations, and the Age <br />Discrimination Act of 1975, and all implementing regulations . <br />11. Not later than five (5) business days prior to the execution of the <br />documents, Developer shall submit to the Executive Director a Management Plan in a <br />form that is reasonably acceptable to the Executive Director, including, but not limited to, <br />the components listed below. Approval of the Management Plan must be obtained from <br />the Executive Director not later than the time for the Closing. Developer shall manage the <br />Assisted Units in accordance with the approved Management Plan, including such <br />amendments as may be approved in writing from time to time by the Executive Director, <br />for the term of the income and rent restrictions contained in these Restrictions. The <br />components of the Management Plan shall include: <br />(a) Management Agent. Developer shall submit the name and <br />qualifications of the proposed Management Agent. The Executive Director shall approve <br />or disapprove the proposed Management Agent in writing based on the experience and <br />qualifications of the Management Agent. The City hereby approves the John Stewart <br />Company as the initial Management Agent. <br />(b) Management Agreement. Developer shall submit a copy of the <br />proposed management agreement specifying the amount of the management fee, and the <br />relationship and division of responsibilities between Developer and Management Agent. <br />(c) Annual Budget and Projected Cash Flows Prior to the Close of <br />Loan, and annually thereafter not later than ninety (90) days after the close of each <br />calendar year thereafter, Developer shall submit a projected operating budget and cash <br />flow to the Executive Director. The budget and cash flow shall be in a forth that is <br />reasonably acceptable to the Executive Director. <br />(d) Tenant Selection Policies. Developer shall include in the <br />Management Plan the tenant selection policies in accordance with Section 4, above. <br />12. If at any time the City determines that the units are not being managed or <br />maintained in accordance with the approved Management Plan, the City shall send the <br />Developer a detailed description of the management deficiencies (a "Deficiency Notice"), <br />If the deficiencies set forth in the Deficiency Notice are not Cured within thirty (3 0) days <br />(or such longer period as may be reasonably necessary to effect such cure by the City), <br />with the exception of HOME regulations that require a shorter period, the Executive <br />Director may require Developer to change management practices or to terminate the <br />management contract and designate and retain a different management agent. The <br />6of12 <br />