CDLAC Requirements. In addition to other requirements set forth herein and to the extent not prohibited by the requirements set forth in Sections 4 and 5 hereof, the Owner hereby agrees to comply with each of the requirements of CDLAC set forth in this Section 31, as follows:
CDLAC Requirements. To the extent the income and rent restrictions contained in the CDLAC Requirements are more restrictive than any of the foregoing requirements, the Owner shall comply with the CDLAC Requirements.
CDLAC Requirements. The acquisition, rehabilitation and operation of the Project and the financing thereof are and shall be in compliance with the conditions set forth in Exhibit A to the CDLAC Resolution (the “CDLAC Conditions”), as it may be amended, which conditions are incorporated herein by reference and are made a part hereof; provided, however, the Governmental Lender shall have no obligation under this Regulatory Agreement to monitor and enforce the Borrower’s compliance with the CDLAC Conditions. The Borrower shall prepare and submit to CDLAC (with a copy to the Governmental Lender), at the times required by CDLAC, a Certificate of Compliance in substantially the form attached hereto as Exhibit B hereto (or in such other form as CDLAC may require), executed by an authorized representative of the Borrower. The Borrower acknowledges that the CDLAC Conditions include the following:
CDLAC Requirements. The acquisition, rehabilitation, equipping and operation of the Project and the financing thereof are and shall be in compliance with the conditions set forth in Exhibit A to the CDLAC Resolution, a copy of which is attached hereto as Exhibit D, which conditions are incorporated herein by reference and are made a part hereof. The Governmental Lender shall monitor and enforce the Borrower’s compliance with the provisions of this Section 30. The Borrower shall prepare and submit to CDLAC on each anniversary of the Closing Date, and on such other date as is reasonably requested by CDLAC, a Certificate of Compliance in substantially the form attached hereto as Exhibit E, executed by an authorized representative of the Borrower. CDLAC shall be a third-party beneficiary of this Regulatory Agreement solely for purposes of enforcing the terms of the CDLAC Resolution. CDLAC shall have the right to enforce the terms of the CDLAC Resolution through an action for specific performance or any other available remedy; provided, however, that CDLAC shall not take any action or enforce any remedy that would be materially adverse to the interests of the holders of the Governmental Lender Note and any such action or enforcement shall otherwise be subject to the terms, conditions and limitations applicable to the enforcement of remedies under this Regulatory Agreement.
CDLAC Requirements. The Borrower shall comply with the conditions set forth in Exhibit A to the CDLAC Resolution (the “CDLAC Conditions”), as they may be modified or amended from time to time, which conditions are incorporated herein by reference and are made a part hereof. The Borrower shall prepare and submit to CDLAC (with a copy to the Issuer), at the times required by CDLAC, (a) a Certificate of Compliance in substantially the form attached hereto as Exhibit B hereto (or in such other form as CDLAC may require), executed by an authorized representative of the Borrower; and (b) such other form or forms as may be required by CDLAC related to the Borrower’s compliance with the CDLAC Conditions. The Borrower acknowledges that the CDLAC Conditions include the following:
CDLAC Requirements. The Owner hereby agrees that the rehabilitation, equipping and operation of the Project and the financing thereof is and shall be in compliance with the conditions set forth in Exhibit A to CDLAC Resolution No. 16-40 adopted on May 18, 2016, attached hereto as Exhibit F (the “CDLAC Resolution”), which conditions (the “CDLAC Requirements”) are incorporated herein by reference and are made a part hereof. Annually on February 1, and as otherwise requested by CDLAC, the Owner shall prepare and submit to the City a Certificate of Compliance in substantially the form attached hereto as Exhibit G, executed by an Authorized Owner Representative.
CDLAC Requirements. The Owner hereby agrees that the construction, equipping and operation of the Project and the financing thereof is and shall be in compliance with the conditions set forth in Exhibit A to CDLAC Resolution No. 13-45 adopted on July 17, 2013, and Exhibit A of CDLAC Resolution No. 13- adopted on September 18, 2013, both attached hereto as Exhibit F (collectively, the “CDLAC Resolution”), which conditions are incorporated herein by reference and are made a part hereof. The Owner shall annually on each anniversary of the Closing Date, and as otherwise requested by CDLAC, prepare and submit to the City a Certificate of Compliance in substantially the form attached hereto as Exhibit G, executed by an Authorized Owner Representative.
CDLAC Requirements. The Owner hereby agrees to comply with the more stringent of the requirements in Sections 4, 5, 6 and 7 hereof. The Owner hereby agrees that the acquisition, development, construction, equipping and operation of the Project and the financing thereof is and shall be in compliance with the conditions set forth in Exhibit A to CDLAC Resolution No. [ ], adopted on [DATE], attached hereto as Exhibit F (the “CDLAC Resolution”), which conditions (the “CDLAC Requirements”) are incorporated herein by reference and are made a part hereof. As required by Section 4(f) above, and as otherwise requested by CDLAC, the Owner shall prepare and submit to the Issuer (i) a Certificate of Compliance in substantially the form attached hereto as Exhibit D hereto, executed by an Authorized Owner Representative, accompanied, by the certificate set forth at Exhibit G hereto prior to and in connection with the Completion Date, as required by CDLAC and (ii) such other form or forms as may be required by CDLAC related to the Owner’s compliance with the CDLAC Conditions. The Owner will promptly provide any information requested by the Issuer in order for the Issuer to complete any Annual Applicant Public Benefit and On-going Compliance Self Certification or otherwise to comply with any regulations of CDLAC applicable to the CDLAC Resolution, the CDLAC Conditions or the Project, including but not limited to Section 5144 of Article 11 of the CDLAC regulations. The requirements of this Section may be waived in writing by CDLAC in its sole and absolute discretion, without the consent of the Issuer. CDLAC and the Issuer each shall have the right (but not the obligation) to enforce the CDLAC Conditions and to pursue an action for specific performance or other available remedy at law or in equity, provided that any such action or remedy shall not materially adversely affect the interests and rights of the owner or owners of the Bonds.
CDLAC Requirements. The acquisition, construction, equipping and operation of the Project and the financing thereof are and shall be in compliance with the conditions set forth in Exhibit A to the CDLAC Resolution, a copy of which is attached hereto as Exhibit D, which conditions are incorporated herein by reference and are made a part hereof. The Governmental Lender shall monitor and enforce the Borrower’s compliance with the provisions of this Section 26. In addition, Borrower shall cooperate with the Government Lender’s reporting requirements and utilize such forms, software, websites and third-party vendors as may be required by the Governmental Lender in its monitoring efforts. The Borrower shall prepare and submit to CDLAC annually by February 1 of each year following the Closing Date, and on such other date as is reasonably requested by CDLAC, a Certificate of Compliance in substantially the form attached hereto as Exhibit E, executed by an authorized representative of the Borrower and the form of CDLAC public benefits certification in the form attached hereto as Exhibit F. CDLAC shall be a third-party beneficiary of this Regulatory Agreement solely for purposes of enforcing the terms of the CDLAC Resolution. CDLAC shall have the right to enforce the terms of the CDLAC Resolution through an action for specific performance or any other available remedy; provided, however, that CDLAC shall not take any action or enforce any remedy that would be materially adverse to the interests of the holders of the Tax-Exempt Obligations and any such action or enforcement shall otherwise be subject to the terms, conditions and limitations applicable to the enforcement of remedies under this Regulatory Agreement.
CDLAC Requirements. The construction and operation of the Project and the financing thereof are and shall be in compliance with the conditions set forth in Exhibit A to the CDLAC Resolution, as it may be amended, which conditions are incorporated herein by reference and are made a part hereof; provided, however, the Issuer shall have no obligation under this Regulatory Agreement to monitor and enforce the Borrower’s compliance with the provisions of this Section 7. Among other things, said CDLAC Resolution sets forth additional requirements for Low Income Units and Very Low Income Units in the Project. The Borrower shall prepare and submit to CDLAC, at the times required by CDLAC, a Certificate of Compliance in substantially the form attached hereto as Exhibit B hereto (or in such other form as CDLAC may require), executed by an authorized representative of the Borrower.
