201007637 - Laserfiche WebLink

Browse

201007�3� such examination shall not unxeasonably disrupt or intexfere with the Owner's business or operations. (b) The Owner shall send to the Authority no later than tw�nty (20) calendar days fallawing the close of each Fiscal Quarter the following inforn�ation (which need not be audrted): (r) a balance sheeC as of the end of each F'iscal Quarter, (ii) a statement of income for each such Fiscal Quarter, (iii) a statem�nt of cash flows and (iv} (coll�ctively, the "Quarterly Financial Status Reports"). If the Quarterly �'inancial Status Reports are not delivered to the Asset Manager wh�n due hereunder, then the Overner shall be obligated to pay ta the Autharity an, arnount equal ta $140 per day for each day after the due date until such Quarterly Financial Status Reparts are delivered. Failure ta deliver the Quarterly Financial Status Reports when due hereunder, unless all arnounts due pursuant to the prior sentence have been paid, may also result in the suspension af any further disbursements of the Subaward hereunder. (c) An azurual pro farma operating budget shall be prepared by th� Owner and furnished to the Ass�t Manager within thirty (3p) days prior to the beginning of each Fiscal Year. (d) The Qwner sha11 submit ta the Asset Manager any other financial reports that the Authority deems necessary to comply with Section 1602 of the Recavery Act and the Program Requirements, as the same may be amended frozn time to tirne. (e) In the event that the 4wner fails to submit to the Autharity in a tirraely and satisfactory manner any report required by this Agreement, the Autharity may, in its sole discretion, withhald any or all disbursements otherwise due or requested by the Qwner hereunder until such time as the Owner fully cures or pexforms any and all delinquent reporting abligations. Section 8.2. Compliance Morritorin Reqorts (a) No later than six (d) rnonths before izaitial occupancy of the dwelling units is scheduled to begin, the Qwner sha11 supply the Authority with a tirnetable of pre-opening marketing activiti�s as well as expected lease-up acceptable to th� Authority, which acceptance may not be unreasonably withheld. (b) The Autharity reserves the right to carryout re�ular and periodic �eld inspections to ensure cornpliance with the requirements of this Agreerr►ent and the Pro�raam Requirements. Sectian 8.3. Pro'ect Performance Re orts No later than five (5) calendar days fallowing the end of each Fiscal Quarter, cammencing with first full Fiscal Quarter ending after the date hereof through the Construction Completion Date, the Owner shall complete a"Project Performance Report" providing information requiced by Treasury and deliver such report to the Authority in the form attached hereto as Exhibit E . -16- 4846-G923-13G7.3