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(f) Annual Budget. The Borrower or the City, as applicable, shall submit a Development projected operating budget to the Agency annually not later than thirty (30) days prior to the beginning of the fiscal year of the Development. The budget shall be in a form satisfactory to the Agency and shall otherwise be consistent with the requirements of this Agreement. 11. Development Management. The Borrower or the City, as applicable, shall provide for the management of the Development in a manner satisfactory to the Agency and shall use a management agreement and a resident selection plan in a form approved by the Agency. The management agreement shall contain a provision to the effect that it shall be subject to termination by the Borrower, without penalty, upon not less than thirty (30) days prior written notice, if the Agency shall request the Borrower or the City, as applicable, (a) to exercise such right of termination and b) to make immediate alternative arrangements, satisfactory to the Agency, for the continued management of the Development. If the Agency shall make such a request of the Borrower or the City, as applicable, the Borrower or the City, as applicable, shall comply. The management agreement and the resident selection plan may be amended by the Borrower or the City, as applicable, only with the prior approval of the Agency. 12. Certain Acts Prohibited. Neither the Borrower nor the City, as applicable, shall without the prior written approval of the Agency do any of the following. The granting of the Agency's approval shall be in its sole discretion and may be conditioned upon the satisfaction of such terms and conditions as the Agency may prescribe. (a) Make any sale, assignment, conveyance or transfer in any other form of the Development or any part thereof or of any of its interest therein, whether voluntarily or by operation of law. (b) Make any distribution not permitted by the terms of this Agreement. (c) Assign Development. (d) Remodel, add of the Development or impair Development. or transfer any right to manage the to, reconstruct or demolish any part any real or personal property of the (e) Require, as a condition of the occupancy or leasing of any dwelling unit in the Development to a Qualified Tenant, any consideration or deposit other than the prepayment of the first month's rent plus a security deposit in an amount not in excess of one (1) month's rent to guarantee the performance of the covenants CHFA 53SLP.RIDGE.VIEW 12/14/89 Q02189 -12-