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may, in its sole and absolute discretion, issue the Certificate of Completion upon the posting with <br />City of a bond or other form of security acceptable to the City Project Manager in the amount of <br />the fair value of the uncompleted world <br />A Certificate of Completion is not evidence of compliance with or satisfaction of the <br />Loan Documents or any obligation of Developer to any other party whatsoever, including any <br />holder of a mortgage or deed of trust. A Certificate of Completion is not "notice of completion" <br />referred to in Section 3093 of the California Civil Code: <br />18. INDEMNIFICATION <br />18.1 Nonliabilitvof City. Developer acknowledges and agrees that <br />(a) The relationship between Developer and the City is and shall remain <br />solely that of Developer and lender, Cityneither undertakes nor assumes any responsibility to <br />review, inspect, supervise, approve (other than for aesthetics) or inform Developer of any matter <br />in connection with the construction +including matters relating to: (i) the performance of the <br />construction work, (ii) architects, contractors, subcontractors and materialmen, or the <br />workmanship of or materials used by any of them, or (iii) the progress of the construction; and <br />Developer shall rely entirely on its own judgment with respect to such matters and acknowledges <br />that any review, inspection, supervision, approval or information supplied to Developer by City , <br />in connection with such matters is solely for the protection of City and that neither Developer norr any third party is entitled to rely on it; <br />(b) Notwithstanding any other provision of any Loan Document: (i) the City <br />is not a partner; joint venture; alter -ego, manager, controlling person or other business associate <br />or participant of any kind of Developer and City does not intend to ever assume any such status; <br />(ii) City's activities in connection with the Loan shall not be "outside the scope of the activities <br />of a lender of money" within the meaning of California Civil Code Section 3434, as modified or <br />recodified from time to time, and City does not intend to ever assume any responsibility to any <br />person for the quality or safety of the Property; and (iii) City shall not be deemed responsible for <br />or a participant in any acts, omissions or decisions of Developer; <br />(c) City shall not be directly or indirectly liable or responsible for any loss or <br />injury of any kindtoany person or property resulting from any construction on, or occupancy or <br />use of, the Property, whether arising from: (i) any defect in any building, grading, landscaping or <br />other onsite or offsite improvement; (ii) any act or omission of Developer or any of Developer's <br />agents, employees, independent contractors, licensees or invitees; or (iii) any accident on the <br />Property or any fire or other casualty orhazard thereon; and <br />(d) By accepting or approving anything required to be performed or given <br />to City under the Loan Documents, including any certificate, financial statement, survey, <br />appraisal or insurance policy, :City shall not be deemed to have warranted or represented the <br />sufficiency or legal effect of the same, and no such acceptance or approval shall constitute a <br />warranty or representation by City to anyone. <br />31 <br />