Common use of Obligations of the Developer Clause in Contracts

Obligations of the Developer. 4.1 The Developer must complete the Project, for which they are receiving the Grant as outlined under Section 2.3. 4.2 Unless the Local Government shall otherwise agree in writing, the Developer covenants and agrees that it: (i) shall comply with the Pre-Development Grant Program eligibility requirements and shall only use the Grant funding for the Project; (ii) shall carry out the Project and conduct the activities thereof in compliance with all applicable laws, regulations, order, rules, ordinances, permits, licenses, and without restricting the generality of the foregoing, in compliance with all labour, environmental, health and safety and human rights legislation applicable to the Project; (iii) shall carry out the Project with due diligence and efficiency and in accordance with sound engineering, scientific, financial and business practices; (iv) shall maintain industry standard insurance coverage which shall include general liability insurance; (v) shall not make any material change to the Project or in the nature or scope of its legal status; and (vi) shall not sell, assign, transfer, lease, exchange or otherwise dispose of, or contract to sell, assign, transfer, lease, exchange or otherwise dispose of, any of the real or personal property, whether movable or immovable, acquired, purchased, constructed, rehabilitated or improved, in whole or in part with the Grant, except if previously approved by the Local Government in writing. 4.3 The Developer shall provide the Local Government the following information, in form and content satisfactory to the Local Government: (i) a final report at the end of the Project or within thirty (30) days of the Local Government making such requests; (ii) prompt notice of any proposed change in the nature or scope of its legal status ; (iii) prompt notice of any act or event which does or may materially and adversely affect the Project or may materially and adversely affect the ability of the Developer to perform its obligations under the Agreement or the Project or any of the Developer’s other obligations that are material to the Developer; (iv) prompt notice of any litigation or administrative proceedings, together with copies of any written legal documents as the Local Government may request, excluding legal documents subject to solicitor client privilege, before any court or arbitral body or other authority which might materially and adversely affect the Project or the ability of the Developer to perform its obligations under the Agreement or in respect of the Project or any of the Developer’s other obligations that are material to the Developer; and (v) immediate notice of the occurrence of any breach of any term or condition of the Agreement and specifying the nature of such breach, and the steps, if any, that it is taking to remedy the same; and (v) such other information as the Local Government may request from the Developer.

Obligations of the Developer. 4.1 The Developer must complete the Project, for which they are receiving the Grant as outlined under Section 2.3. 4.2 The Developer covenants and agrees that it shall maintain the number of affordable housing units (as described in the Program) set out in the Project description for a period of not less than twenty (20) years. 4.3 Unless the Local Government shall otherwise agree in writing, the Developer covenants and agrees that it: (i) shall comply with the Pre-Development Rental Housing Grant Program eligibility requirements and shall only use the Grant funding for the Project; (ii) shall carry out the Project and conduct the activities thereof in compliance with all applicable laws, regulations, order, rules, ordinances, permits, licenses, and without restricting the generality of the foregoing, in compliance with all labour, environmental, health and safety and human rights legislation applicable to the Project; (iii) shall carry out the Project with due diligence and efficiency and in accordance with sound engineering, scientific, financial and business practices; (iv) shall maintain industry standard insurance coverage which shall include general liability insurance; (v) shall not make any material change to the Project or in the nature or scope of its legal status; and (vi) shall not in the event the Developer decides to sell, assign, transfer, lease, exchange or otherwise dispose of, or contract to sell, assign, transfer, lease, exchange or otherwise dispose of, any of the real or personal property, whether movable or immovable, acquired, purchased, constructed, rehabilitated or improved, in whole or in part with the Grant, except if previously approved by the Local Government in writing, the Developer shall obtain agreement from such party to whom the Developer wishes to sell, assign, transfer, lease, exchange or otherwise dispose such real or personal property (such party being hereinafter referred to as a “Purchaser”) that such Purchaser shall also accept assignment of the Developer’s 20 year commitment for affordable housing to the Local Government under this Agreement and the Program. 4.3 4.4 The Developer shall provide the Local Government the following information, in form and content satisfactory to the Local Government: (i) a final report at the end of the Project or within thirty (30) days of the Local Government making such requests; (ii) prompt notice of any proposed change in the nature or scope of its legal status ; (ii) prompt notice of any sale of the Project, together with evidence of compliance with section 4.3(vi) above; (iii) an annual attestation with a then current rent roll, certified by the Developer, within thirty (30) days of the Local Government making such requests to confirm affordability of such designated units; (iv) prompt notice of any act or event which does or may materially and adversely affect the Project or may materially and adversely affect the ability of the Developer to perform its obligations under the Agreement or the Project or any of the Developer’s other obligations that are material to the Developer; (ivv) prompt notice of any litigation or administrative proceedings, together with copies of any written legal documents as the Local Government may request, excluding legal documents subject to solicitor client privilege, before any court or arbitral body or other authority which might materially and adversely affect the Project or the ability of the Developer to perform its obligations under the Agreement or in respect of the Project or any of the Developer’s other obligations that are material to the Developer; and; (vvi) immediate notice of the occurrence of any breach of any term or condition of the Agreement and specifying the nature of such breach, and the steps, if any, that it is taking to remedy the same; and and (vvii) such other information as the Local Government may request from the Developer.

Obligations of the Developer. 4.1 The Developer must complete the Project, for which they are receiving the Grant as outlined under Section 2.3. 4.2 The Developer covenants and agrees that connection with the sale of the units developed under the Project to individual third parties, it shall maintain its program of affordable home ownership described in the Project for a period of not less than twenty (20) years. The Developer agrees that a restrictive covenant shall be registered against the real property comprising the Project in the form acceptable to the Local Government committing that the Developer, or its successor(s) in title, shall maintain its program of affordable home ownership described in the Project for a period of twenty (20) years. 4.3 Unless the Local Government shall otherwise agree in writing, the Developer covenants and agrees that it: (i) shall comply with the Pre-Development Modest Home Ownership Grant Program eligibility requirements and shall only use the Grant funding for the Project; (ii) shall carry out the Project and conduct the activities thereof in compliance with all applicable laws, regulations, order, rules, ordinances, permits, licenses, and without restricting the generality of the foregoing, in compliance with all labour, environmental, health and safety and human rights legislation applicable to the Project; (iii) shall carry out the Project with due diligence and efficiency and in accordance with sound engineering, scientific, financial and business practices; (iv) shall maintain industry standard insurance coverage which shall include general liability insurance; (v) shall not make any material change to the Project or in the nature or scope of its legal status; and (vi) shall not in the event the Developer decides to sell, assign, transfer, lease, exchange or otherwise dispose of, or contract to sell, assign, transfer, lease, exchange or otherwise dispose of, any of the real or personal property, whether movable or immovable, acquired, purchased, constructed, rehabilitated or improved, in whole or in part with the Grant, except if previously approved by the Local Government in writing, the Developer shall obtain agreement from such party to whom the Developer wishes to sell, assign, transfer, lease, exchange or otherwise dispose such real or personal property (such party being hereinafter referred to as a “Purchaser”) that such Purchaser shall also accept assignment of the Developer’s 20 year commitment for affordable housing to the Local Government under this Agreement and the Modest Home Ownership Grant Program. 4.3 4.4 The Developer shall provide the Local Government the following information, in form and content satisfactory to the Local Government: (i) a final report at the end of the Project or within thirty (30) days of the Local Government making such requests; (ii) prompt notice of any proposed change in the nature or scope of its legal status ; (ii) prompt notice of any sale of the Project, together with evidence of compliance with section 4.3(vi) above; (iii) an attestation, as and when requested by the Local Government, with a then current listing of third parties to whom it has facilitated affordable home ownership under the Project, certified by the Developer, within thirty (30) days of the Local Government making such requests to confirm affordability of such designated units; (iv) prompt notice of any act or event which does or may materially and adversely affect the Project or may materially and adversely affect the ability of the Developer to perform its obligations under the Agreement or the Project or any of the Developer’s other obligations that are material to the Developer; (ivv) prompt notice of any litigation or administrative proceedings, together with copies of any written legal documents as the Local Government may request, excluding legal documents subject to solicitor client privilege, before any court or arbitral body or other authority which might materially and adversely affect the Project or the ability of the Developer to perform its obligations under the Agreement or in respect of the Project or any of the Developer’s other obligations that are material to the Developer; and; (vvi) immediate notice of the occurrence of any breach of any term or condition of the Agreement and specifying the nature of such breach, and the steps, if any, that it is taking to remedy the same; and and (vvii) such other information as the Local Government may request from the Developer.

Obligations of the Developer. 4.1 The Developer must complete the Project, for which they are receiving the Grant as outlined under Section 2.3. 4.2 The Developer covenants and agrees that connection with the sale of the units developed under the Project to individual third parties, it shall maintain its program of affordable home ownership described in the Project for a period of not less than twenty (20) years. The Developer agrees that a restrictive covenant shall be registered against the real property comprising the Project in the form acceptable to the Local Government committing that the Developer, or its successor(s) in title, shall maintain its program of affordable home ownership described in the Project for a period of twenty (20) years. 4.3 Unless the Local Government shall otherwise agree in writing, the Developer covenants and agrees that it: (i) shall comply with the Pre-Development Modest Home Ownership Grant Program eligibility requirements and shall only use the Grant funding for the Project; (ii) shall carry out the Project and conduct the activities thereof in compliance with all applicable laws, regulations, order, rules, ordinances, permits, licenses, and without restricting the generality of the foregoing, in compliance with all labour, environmental, health and safety and human rights legislation applicable to the Project; (iii) shall carry out the Project with due diligence and efficiency and in accordance with sound engineering, scientific, financial and business practices; (iv) shall maintain industry standard insurance coverage which shall include general liability insurance; (v) shall not make any material change to the Project or in the nature or scope of its legal status; and (vi) shall not in the event the Developer decides to sell, assign, transfer, lease, exchange or otherwise dispose of, or contract to sell, assign, transfer, lease, exchange or otherwise dispose of, any of the real or personal property, whether movable or immovable, acquired, purchased, constructed, rehabilitated or improved, in whole or in part with the Grant, except if previously approved by the Local Government in writing, the Developer shall obtain agreement from such party to whom the Developer wishes to sell, assign, transfer, lease, exchange or otherwise dispose such real or personal property (such party being hereinafter referred to as a “Purchaser”) that such Purchaser shall also accept assignment of the Developer’s 20 year commitment for affordable housing to the Local Government under this Agreement and the Modest Home Ownership Grant Program. 4.3 4.4 The Developer shall provide the Local Government the following information, in form and content satisfactory to the Local Government: (i) a final report at the end of the Project or within thirty (30) days of the Local Government making such requests; (ii) prompt notice of any proposed change in the nature or scope of its legal status status; (ii) prompt notice of any sale of the Project, together with evidence of compliance with section 4.3(vi) above; (iii) an attestation, as and when requested by the Local Government, with a then current listing of third parties to whom it has facilitated affordable home ownership under the Project, certified by the Developer, within thirty (30) days of the Local Government making such requests to confirm affordability of such designated units; (iv) prompt notice of any act or event which does or may materially and adversely affect the Project or may materially and adversely affect the ability of the Developer to perform its obligations under the Agreement or the Project or any of the Developer’s other obligations that are material to the Developer; (ivv) prompt notice of any litigation or administrative proceedings, together with copies of any written legal documents as the Local Government may request, excluding legal documents subject to solicitor client privilege, before any court or arbitral body or other authority which might materially and adversely affect the Project or the ability of the Developer to perform its obligations under the Agreement or in respect of the Project or any of the Developer’s other obligations that are material to the Developer; and; (vvi) immediate notice of the occurrence of any breach of any term or condition of the Agreement and specifying the nature of such breach, and the steps, if any, that it is taking to remedy the same; and and (vvii) such other information as the Local Government may request from the Developer.