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TABLE OF CONTENTS <br /> Page <br /> ARTICLE 1 DEFINITIONS AND EXHIBITS 1 <br /> Section 1.1 Definitions 1 <br /> ARTICLE 2 PREDISPOSITION REQUIREMENTS 4 <br /> Section 2.1 Conditions Precedent to Disposition of Property 4 <br /> Section 2.2 CEQA Review. 4 <br /> Section 2.3 Governmental Approvals 4 <br /> Section 2.4 Other Required Funds 4 <br /> Section 2.5 Financing Plan 5 <br /> Section 2.6 Failure to Obtain Financing 5 <br /> ARTICLE 3 DISPOSITION OF PROPERTY 5 <br /> Section 3.1 Lease 5 <br /> Section 3.2 Lease Payments 5 <br /> Section 3.3 Opening Escrow 5 <br /> Section 3.4 Close of Escrow 5 <br /> Section 3.5 Condition of Title 6 <br /> Section 3.6 Condition of Property 6 <br /> Section 3.7 Costs of Escrow and Closing 6 <br /> ARTICLE 4 CITY GROUND LEASE 7 <br /> Section 4.1 City Ground Lease 7 <br /> Section 4.2 Assumption 7 <br /> Section 4.3 Term of City Loan 7 <br /> Section 4.4 Subordination of City Ground Lease 7 <br /> Section 4.5 Subordination of Regulatory Agreement 7 <br /> Section 4.6 HUD Requirements 7 <br /> Section 4.7 Option to Purchase and Right of First Refusal 7 <br /> Section 4.8 Unit Mix 8 <br /> Section 4.9 Maintenance 8 <br /> ARTICLE 5 CONSTRUCTION OF IMPROVEMENTS <br /> Section 5.1 Construction Contract 8 <br /> Section 5.2 Commencement of Improvements 8 <br /> Section 5.3 Completion of the Improvements 8 <br /> ARTICLE 6 INSURANCE REQUIREMENTS 8 <br /> Section 6.1 Insurance Requirements 8 <br /> ARTICLE 7 ASSIGNMENT AND TRANSFERS 9 <br /> Section 7.1 Definitions 9 <br /> 144\105\105296.4 1 <br />