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5.18 Performance and Payment Bonds. Prior to commencement of construction work on the Project, Developer shall cause its general contractor to deliver to the City copies of payment bond(s) and performance bond(s) issued by a reputable insurance company licensed to do business in California, each in a penal sum of not Tess than one hundred percent (100%) of the scheduled cost of construction of such Project component. The bonds shall name the City as co - obligee. 5.19 Insurance Requirements. Developer shall maintain and shall cause its contractors to maintain all applicable insurance coverage specified in Article X. 5.20 Affordable Housinjg. Developer covenants and agrees for itself, its successors and assigns that the Property will be subject to recorded covenants that will restrict use of the Property to operation of an affordable rental residential development and that for a term of not less than seventy-five (75) years commencing upon the issuance of the final certificate of occupancy for the Project, not less than six (6) of the residential units in the Project shall be available at Affordable Rents to households whose income is no greater than twenty percent (20%) of Area Median Income, not less than an additional three (3) of the residential units in the Project shall be available at Affordable Rents to households whose income is no greater than forty percent (40%) of Area Median Income, not less than an additional fourteen (14) of the residential units in the Project shall be available at Affordable Rents to households whose income is no greater than fifty percent (50%) of Area Median Income, and not less than an additional six (6) of the residential units in the Project shall be available at Affordable Rents to households whose income is no greater than sixty percent (60%) of Area Median Income. Two (2) residential units shall be manager/staff units that will not be subject to rent or occupancy restrictions. Developer shall comply with rent and occupancy restrictions imposed by all applicable financing sources and regulatory agencies if such agencies impose requirements on the Project that are more stringent than those set forth in this Agreement. Developer shall be obligated to contract with a qualified organization or agency that will provide referrals of Eligible Households for prospective occupancy of the residential units in the Project. In addition, Developer will be obligated to provide, or contract with a qualified organization for provision of supportive social services to the Project residents. 5.21 Intentionally omitted. 5.22 Intentionally omitted. 5.23 Maintenance. Commencing upon Developer's acquisition of a leasehold interest in the Property, Developer shall at its own expense, maintain the Property and the Improvements, including the landscaping and common areas, in good physical condition, in good repair, and in decent, safe, sanitary, habitable and tenantable living conditions in conformity with all Applicable Laws. Without limiting the foregoing, Developer agrees to maintain the Property and the Improvements (including without limitation, landscaping, driveways, parking areas, and walkways) in a condition free of all waste, nuisance, debris, unmaintained landscaping, graffiti, disrepair, abandoned vehicles/appliances, and illegal activity, and shall take all reasonable steps to prevent the same from occurring on the Property. Developer shall prevent and/or rectify any physical deterioration of the Improvements and shall make all repairs, renewals and replacements necessary to keep the Property and the Improvements in good condition and repair. OAK #4845-1087-0362 v5 22