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2010078b3 (o) The Owner will develop and operate the Project in accordance with (i) the applicable pr�visions of Section 42 of the Code, (ii) the tenns of this Agrcement, (iii) the Program Requirements, (iv) all applicable federal, Statc, and local statutes, ntles and regulatians with respect to the Project including, without limitation, the Fair Housing Act (42 U.S.C. 36U1, et seq.), as amended, and (v) all applicable requirements of any Governmental Authorities having jurisdiction over the Praject, (p) The Owner sha11 not sell, lease (other than hy residential leases in the ordinary course of business), transfer or atherwise dispose of any material portion of the Project, without the prior written consent �f the Authority provided transfers of interest in the pwner's investor member as permitted puxsuant to the Owner's First Amended and Restated �perating Agreement shall not be pmhibited pursuant to this Agreement or other related �ocuments. Section 7'.�. Cove�nant of Comntetion The Owncr unconditionally covenants and warrants that it shall meet the Constniction Completion Date. The Owner shali cause the Project to satisfy all construction relat�d requirements of the Mortgage Loans, including any requirement related to completion of the Project. The Owner shall pay all casts to complete the construction of the Project in accorda�nce with the Plans and Specifications when and as incurred, r�gazdless of whether such costs exceed the amounts anticipated for such items in the Budget or the sources otherwis� available to pay such costs (in either such event, saaid costs being referred tn as "Excess Deveiopment Costs"). The �wtier shall pay any Excess Development Costs by the earliest of (a) the date required to avoid a default or penalties under the Mortgage Loans, (b) the date required to keep all sources of fiznding for the Project "in balance," (c) the date required to keep all expenses without a specific maturity date paid on a sixty (b4)-day curr�nt basis, or (d) such earlier date as may be sek forth in this Agire�ment. ARTICLE V II BOOKS AND REPORTINC Section 8.1. F`inanclal Status Reavrts (a) The Owner shall maintain or cause to be maintained for the term of this Agrce�nent a complete and accurate set of books and supparting docum�ntation of transactions with respect to the conduct of the Qwner's business. The Authority shall have the right ta examine the books of the Owner and all other records and infonmation cancerning the operation of the Project from time to time withnut prior notice during regulac business hours provided that such examination shall not unreasan►ably disrupt or interfere with the Owner's business or operations. (b) The Owner shall send to the Authority no later than twenty (20) calendar days following the close of each Fiscal Quarter the following information (which need nnt be audited): (i) a balance sheet as of the end of each Fiscal Quarter, (ii) a statement of income for each such Fiscal Quarter, (iii) a statement of cash flows and (iv) (collectively, the "Quarterly Financial Status Reports"). If the Quarterly Financial Status Reports are not delivered to the Asset Manager when due hereunder, then the Owner shall be obli�at�d tv pay ta the Aukharity an -15- asas-233x-io9a.z