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<br />4879-3324-5885v3
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<br />restrictions set forth herein shall be deemed covenants running with the land and shall be binding
<br />upon and inure to the benefit of the heirs, administrators, executors, successors in interest,
<br />transferees, and assigns of Owner and City, regardless of any sale, assignment, conveyance or
<br />transfer of the Property, the Project or any part thereof or interest therein. Any successor-in-interest
<br />to Owner, including without limitation any purchaser, transferee or lessee of the Property or the
<br />Project (other than the tenants of the individual dwelling units within the Project) shall be subject
<br />to all of the duties and obligations imposed hereby for the full Term. Each and every contract,
<br />deed, ground lease or other instrument affecting or conveying the Property or the Project or any
<br />part thereof, shall conclusively be held to have been executed, delivered and accepted subject to
<br />the covenants, restrictions, duties and obligations set forth herein, regardless of whether such
<br />covenants, restrictions, duties and obligations are set forth in such contract, deed, ground lease or
<br />other instrument. If any such contract, deed, ground lease or other instrument has been executed
<br />prior to the date hereof, Owner hereby covenants to obtain and deliver to City an instrument in
<br />recordable form signed by the parties to such contract, deed, ground lease or other instrument
<br />pursuant to which such parties acknowledge and accept this Agreement and agree to be bound
<br />hereby. Owner agrees for itself and for its successors that in the event that a court of competent
<br />jurisdiction determines that the covenants herein do not run with the land, such covenants shall
<br />be enforced as equitable servitudes against the Property and the Project in favor of City.
<br />6. Property Management; Repair and Maintenance; Marketing.
<br />6.1 Management Responsibilities. Owner shall be responsible for all management
<br />functions with respect to the Property and the Project, including without limitation the
<br />selection of tenants, certification and recertification of household income and eligibility,
<br />evictions, collection of rents and deposits, maintenance, landscaping, routine and extraordinary
<br />repairs, replacement of capital items, and security. City shall have no responsibility for
<br />management or maintenance of the Property or the Project.
<br />6.2 Management Entity. City shall have the right to review and approve the
<br />qualifications of (i) the management entity, and shall have the right to review and approve any
<br />agreement executed between Owner and such entity, which approval shall not be unreasonably
<br />withheld. The contracting of management services to a management entity shall not relieve
<br />Owner of its primary responsibility for proper performance of management duties. City hereby
<br />approves Eden Housing Management, Inc., a California nonprofit public benefit corporation, as
<br />the initial management entity for the Project. Any subsequent management entity shall be
<br />subject to City review and approval, which shall not be unreasonably withheld or delayed. Upon
<br />City determination and delivery of written notice to Owner that Owner has failed to operate the
<br />Project in accordance with this Agreement, subject to any applicable cure period and the
<br />approval of the Project lenders and equity investors, City may require Owner to contract with a
<br />qualified management agent selected by City and approved by the Project lender and equity
<br />investor, to operate the Project, or to make such other arrangements as City deems necessary to
<br />ensure performance of the required functions.
<br />6.3 Repair, Maintenance and Security. Throughout the Term, Owner shall at its own
<br />expense, maintain the Property and the Project in good physical condition, in good repair, and in
<br />decent, safe, sanitary, habitable and tenantable living conditions in conformity with all applicable
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