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201007863 Sectian 9.2. Asset Mana�ement Duties The Asset Manager will provide the following services to the Praject; (a) Ttevie�w the use of the praceeds of the Subawazd to ensuxe such praceeds �re being spent only in accordance with the requirem�nts of this A�'eement, in particular and withaut limitatian, Article N hereof, and with the Program Requirements; (b) Review and repart to the Authority na less than quarterly on the progress of construction o� the Project, its compliance with the Constructian/Draw Schedule, the Plans �nd Specifications, and the Budget, and any changes to anticipated sources and uses, or other matters which, in the judgment of the Asset Manager, may adversely affect the ability af the �wner to complete the cortstruclion of the Project by the Canstruction Completinn Date; (c) Review all fmancial status reports required to be delivered pursuant to Section 8.1 of this Agreement; (d) Review all compliance monitoring reports required ta be delivered pursuant to Section 8.2 oF this Agreement; and (e) Other duties as required by the Treasury. Sectian 9.3. Asset Management Fee In consideration of the services and obligations of the Asset Manager hereunder, the Owner hereby agrees to pay to the Authority a fee in the amount of $21,875, representing the estimated actual costs of the Authority in eonnection with the following: (a) the costs af the Authority in establishing and documenting the asset management regime for the Subaward; (b) the costs af monitoring the construction process and appraving disbursements vf Secrion 1602 Pragram Funds; (c) the co.sts of monitaring the op�rations, finances and compliance of the Owner thxoughnut the Compliance Penod; and (d) other actual casts of the Authority related to Asset Manag�rnent pursuant to this Agreement. ARTXCLE. X DEFAULT; TERMINATION Section 1Q.1. D,,,,,,,,�faalt (a) Any of the following events shall constitute an Event of Default undcr this Agreement: (i) A breach by the Owner af any of its representatians, wazranties or covenants contained in this Agreement or in the performance of any of its obligations under this Agreem�nt, in either event that (A) has or might reasonably be expected to have a material adverse impact on the operation of the Project, �nd (B) is not cured within ten (10) Business Days (in the case of a monetary default) -17- 4848-2332-1094.2