MIDPEN HOUSING CORPORATION 13-1174C

and by public authorities during reasonable business hours upon forty-eight (48) hours'written notice for the purposes of determining compliance with this Agreement. Section 9.11 Information. The Developer shall provide any information reasonably requested by the City in connection with the Development. Section 9.12 Records. (a) The Developer shall maintain complete, accurate, and current records pertaining to the Development for a period of five (5) years after the creation of such records, and shall permit any duly authorized representative of the City to inspect and copy records upon reasonable notice to the Developer. Such records shall include all invoices, receipts, and other documents related to expenditures from the City Loan funds. Records must be kept accurate and current. (b) The City shall notify the Developer of any records it deems insufficient. The Developer shall have thirty(30) calendar days after the receipt of such a notice to correct any deficiency in the records specified by the City in such notice, or if a period longer than thirty (30) days is reasonably necessary to correct the deficiency,then the Developer shall begin to correct the deficiency within thirty (30) days and complete the correction of the deficiency as soon as reasonably possible. Section 9.13 Financial Accounting and Post-Completion Audits. (a) No later than ninety (90) days following issuance of the Certificate of Occupancy, the Developer shall provide to City an unaudited financial accounting of all sources and uses of funds for the Development. No later than one hundred fifty (150) days following completion of construction of the Development, the Developer shall submit to the City a copy of the Development's cost certification report prepared by the Developer's accountant and submitted to TCAC showing the sources and uses of all funds utilized for the Development. (b) The Developer shall make available for examination at reasonable intervals and during normal business hours to City all books, accounts, reports, files, and other papers or property with respect to all matters covered by this Agreement, and shall permit City to audit, examine, and make excerpts or transcripts from such records upon reasonable prior notice to the Developer. The City, in its reasonable discretion, may make audits of any records related to the development or operation of the Development or the Developer's compliance with this Agreement. The City shall give the Developer notice of three (3)business days to make such audits. Section 9.14 Revisions to Project Budget and Financing Plan. As required under Section 5.8 as needed thereafter, the Developer shall submit any required amendments to the Financing Plan and/or the Project Budget including but not limited to any amendments or modifications to the development budget, Qualified Tax Credit Investor commitment letter, or the commitment letter from any other lender, to the City for approval within fifteen (15) days of the date the Developer receives information indicating that actual costs of the Development vary 22 191\52\1242198 1