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202403568
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Last modified
7/30/2024 12:27:49 PM
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7/30/2024 12:27:42 PM
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DEEDS
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202403568
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202403563 <br />such matters as the Authority deems reasonable upon the Owner. Failure by the <br />Owner to comply with any such reporting responsibilities shall constitute a violation <br />of this Agreement. <br />Section 10. Amendment; Termination. Except as set forth in Section 2(e) <br />hereof, the provisions of this Agreement shall not be amended, revised or <br />terminated (except as provided in Sections 5 and 7 of this Agreement) prior to the <br />stated term hereof except by an instrument in writing duly executed by the <br />Authority and the Owner (or its successors in title) and duly recorded. The <br />Authority's consent to any such amendment, revision or termination, other than a <br />termination pursuant to Section 5 of this Agreement, shall be given only if (a) there <br />shall be attached to the document evidencing such amendment, revision or <br />termination an opinion of Owner's counsel satisfactory to the Authority that such <br />amendment, revision or termination will not result in noncompliance of the Project <br />or the Owner with Section 42 of the Code or (b) evidence satisfactory to the <br />Authority has been submitted to the Authority demonstrating that there has <br />occurred an involuntary noncompliance caused by fire, seizure, requisition, change <br />in federal law, action of a federal agency which prevents the Authority from <br />enforcing this Agreement or condemnation or similar event. Notwithstanding the <br />foregoing, this Agreement shall not terminate by reason of the aforementioned <br />foreclosure, transfer of title by deed in lieu of foreclosure or other similar event if <br />the Owner or any related person or any person with whom the Owner has had family <br />or business ties obtains an ownership interest in the Project for federal tax purposes <br />during the period in which the restrictions of this Agreement are or would be in <br />effect. <br />Section 11. No Conflict With Other Documents. The Owner represents, <br />warrants, and covenants that it has not executed and will not execute any other <br />agreement with provisions contradictory to, or in opposition to, the provisions of <br />this Agreement and that, in any event, the requirements of this Agreement are <br />paramount and controlling as to the rights and obligations herein set forth and <br />supersede any other requirements in conflict herein. <br />Section 12. Fees, Release and Indemnification. The Owner agrees to pay <br />the Authority the various fees at the times and in the amounts set forth in the <br />Authority's qualified allocation plan related to the LIHTC and the AHTC. Any <br />extraordinary legal fees incurred by the Authority with respect to the Project will be <br />paid by the Owner. The Owner hereby agrees to pay, indemnify and hold the <br />Authority harmless from any and all costs, expenses and fees, including all <br />reasonable attorneys' fees which may be incurred by the Authority in enforcing or <br />18 <br />Final 12/21 <br />
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