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completion of the predevelopment obligations shall be a condition to the City's performance at Closing. Section 4.3 Environmental Review. Prior to submitting an application for land use approvals Developer shall perform any additional environmental studies required by the City and the Housing Authority in connection with their environmental review of the Development in accordance with CEQA and shall make diligent efforts to perform any additional studies in accordance with CEQA. Developer acknowledges that the environmental review process under CEQA may involve preparation and consideration of additional information, as well as consideration of input from interested organizations and individuals; that approval or disapproval of the Development following completion of the environmental review process is within the sole, complete, unfettered, and absolute discretion of the City and the Housing Authority without limitation by or consideration of the terms of this Agreement; and that the City and the Housing Authority make no representation regarding the ability or willingness of the City and the Housing Authority to approve the Development at the conclusion of the environmental review process required by CEQA, or regarding the imposition of any mitigation measures as conditions of any approval that may be granted. The parties recognize that, as a result of the environmental review process, the City and the Housing Authority have the absolute discretion and right to terminate this Agreement, and no cost shall be incurred by the City and the Housing Authority as a result of such. In addition, Developer acknowledges that any required approvals by any other local, state or federal agency may require additional environmental review, and that any approval by the City and the Housing Authority shall not bind any other local, state or federal agency to approve the Development or to impose mitigation measures which are consistent with the terms of this Agreement or with the terms of any mitigation measures required by the City and the Housing Authority pursuant to the City and the Housing Authority's environmental review. Developer has the right to terminate this Agreement if the City or the Housing Authority disproves of the Development following completion of the environmental review process; or, Developer determines that implementation of any required environmental mitigation measures would cause the Development to become economically infeasible. Upon such termination the City Loan shall be forgiven pursuant to Section 14.5 below. Section 4.4 Land Use Approvals and Permits. Within the times specified in the Schedule of Performance, Developer shall obtain all permits and approvals necessary to construct the Development, including a Planned Unit Development permit and demolition and building permits. All applications for such permits and approvals shall be consistent with the approved Construction Plans. The Developer acknowledges that execution of this Agreement by the City does not constitute approval by the City of any required or additional permits, applications, or allocations, if any, and in no way limits the discretion of the City in the permit allocation and approval process. ARTICLE 5. FINANCING ARRANGEMENTS Section 5.1 Developer's Financing Plan. Developer contemplates financing the Development with a combination of funds from the proceeds of the following: (i) the City Loan; (ii) Tax Credits; (iii) the County HOME Loan; (iv) the AHP Loan; (v) project-based Section 8 12 191A52V1242198.13