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Development. The Borrower and /or the City may, at anytime,
<br />request that the Agency approve a reduction or suspension of the
<br />monthly obligation to fund the RR which request the Agency may
<br />approved or disapprove in its sole discretion.
<br />7. Application of Funds if Default. In the event of a
<br />default under this Agreement, or any of the other Loan Documents,
<br />the Agency in its sole discretion may apply or authorize the
<br />application of the funds in any of the accounts provided for in
<br />Section 6, to any amounts then due under this Agreement or the
<br />other Loan Documents, or use such funds for the continued
<br />operation of the Development.
<br />8. Non - Discrimination and Equal Opportunity. Occupancy of
<br />the Development shall be open to all regardless of race, sex,
<br />marital status, age [except for senior citizen housing pursuant to
<br />California Civil Code Sections 51.2 and 51.3], color, religion,
<br />national origin or ancestry. The Borrower or the City, as
<br />applicable, shall require that contractors and subcontractors
<br />engaged in the construction of the Development provide an equal
<br />opportunity for employment without discrimination as to race, sex,
<br />marital status, color, religion, national origin or ancestry. In
<br />addition, the Borrower or the City, as applicable, agree to
<br />conduct its own affirmative action and affirmative marketing
<br />programs as approved by the Agency.
<br />9. Oualified Tenant's Rent Increase Procedure.
<br />(a) The Agency will, from time to time, revise the
<br />maximum rental limits applicable to dwelling units reserved for
<br />Qualified Tenants by a percentage equal to any percentage change
<br />in county median income. Until such time as the Agency mails a
<br />notice of such change to the Borrower or the City, as applicable,
<br />the previously existing charges shall apply.
<br />(b) Upon receipt of new rental charge schedules, the
<br />Borrower or the City, as applicable, may increase, and shall, if
<br />necessary, decrease the rental charges. Any increase in rental
<br />charges must comply with the terms of the lease as to the time and
<br />manner of such changes, provided that, no Qualified Tenant shall
<br />have a rent increase sooner than one (1) year after initial
<br />occupancy.
<br />10. Financial Covenants. In addition to, but not by way of
<br />limitation of, all other duties of the Borrower and the City, as
<br />applicable, set forth herein, the Borrower or the City, as
<br />applicable, shall comply with the following:
<br />(a) Audit. The Development and all equipment,
<br />buildings, plans, offices, apparatus, devices, books, contracts,
<br />records, documents and other papers relating thereto shall at all
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