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extension of the time deadlines set forth in this Agreement as required to restructure the Financing Plan, subject to the outside time limit for completion set forth in Section 5.1 below. City's approval of the Financing Plan shall be a condition precedent to City's obligation to lease the Property to Developer. The approved Financing Plan shall be attached to this Agreement as Exhibit E. The terms set forth in the body of this Agreement shall prevail in the event of a conflict between the information set forth in the Financing Plan and the terms set forth in the body of this Agreement. 2.5.2.1 Tax Credit Funds. Developer will use best efforts to submit an application to TCAC for a preliminary tax credit reservation for the Project by June 30, 2018, but in no event later than TCAC's second round for 2019. Developer will submit applications to TCAC for a preliminary tax credit reservation for the Project in up to three consecutive rounds, if necessary to secure a tax credit allocation. Upon award of a preliminary reservation from TCAC, Developer shall exercise diligent good faith efforts to obtain a funding commitment from a reputable equity investor. Procurement of a TCAC preliminary reservation and receipt of an equity investor's funding commitment reasonably acceptable to City shall be conditions precedent to the City's obligation to lease the Property to Developer. If Developer does not receive an allocation of tax credits after applying in three consecutive TCAC rounds, but in no event later than the second round of 2019, unless the Parties agree to an alternative financing plan for the Project, the City shall have the right, by delivery of written notice to Developer, to terminate any obligation that may be construed to have arisen under this Agreement relating to the leasing of the Property or financing the Project. 2.5.3 Modifications. Proposed modifications to the Financing Plan shall be submitted to the City for review and approval. City staff shall promptly review such proposed modifications, and acting through its Authorized Representative, the City shall approve such modifications in writing within fifteen (15) business days following receipt provided that the modifications conform to the requirements of this Agreement. If the City does not approve proposed modifications, the City shall set forth its objections in writing and notify Developer of the reasons for its disapproval. Developer shall thereafter submit a revised Financing Plan that addresses the reasons for disapproval. If the City does not approve or provide written objections to Developer within such fifteen (15) business day period, the proposed modifications shall be deemed rejected. 2.5.4 Loan and Grant Documents; Partnership Agreement. Developer shall submit to the City for its review and approval, copies of all loan and/or grant documents for the financing sources identified in the Financing Plan, and, if the Project will be conveyed to an Approved Partnership, copies of the Partnership Agreement and related documents. ARTICLE III GROUND LEASE OF THE PROPERTY; CONDITIONS PRECEDENT TO CLOSING OAK #4845-1087-0362 v5 9