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be verified for their accuracy by a CPA or a licensed public accountant before
<br />these records can be turned over to Owner.
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<br /> (h) The Owner and Agent shall, from time to time, as required by the
<br />City, attend City meetings for the purpose of providing reports and other
<br />information regarding the Development.
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<br /> 21. Fidelity Bond. Agent shall furnish, at its own expense, a fidelity
<br />bond equal to one month's gross rent which insures the Owner against
<br />misapplication of Development funds by the Agent or its employees or employees
<br />of the Development.
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<br /> 22. Bids, Discounts, Rebates, etc. Agent will obtain contracts,
<br />materials, supplies, utilities and services on the most advantageous terms to
<br />the Development, and is authorized to solicit three (3) bids, either formal or
<br />informal, for those items which can be obtained from more than one source.
<br />Agent will secure and credit to the Development, all discounts, rebates or
<br />commissions obtainable with respect to purchases, service contracts and all
<br />other transactions on the Development's behalf.
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<br /> 23. Insurance. Owner will inform Agent of insurance to be carried with
<br />respect to the Development and its operations, and Agent will cause such
<br />insurance to be placed and kept in effect at all times. Agent will pay
<br />premiums out of the Development Operating Account and premiums will be treated
<br />as Development expenses. All insurance will be place with such companies, on
<br />such conditions, in such amounts and with such beneficial interests appearing
<br />thereon as shall be acceptable to Owner, the City and CHFA, provided that the
<br />same will include public liability coverage with Agent, Owner and the Lenders
<br />designated as additional insureds. Agent will investigate and furnish Owner
<br />with full reports as to all accidents, claims and potential claims for damage
<br />relating to the Development, and will cooperate with insurers in connection
<br />therewith. Owner shall provide the City and CHFA of all accident and claims
<br />reports in excess ~f $5,000.
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<br /> 24. Compliance with Governmental Orders. Agent will take such action as
<br />may be necessary to comply promptly with any and all governmental orders or
<br />other requirements affecting the Development, whether imposed by federal,
<br />state, county or municipal authority. Nevertheless, Agent shall take no such
<br />action so long as Owner is contesting, or has informed the Agent of its
<br />intention to contest, any such order or requirement. Agent shall notify the
<br />Owner, the City and CHFA in writing of all notices of such orders or other
<br />requirements, within seventy-two (72) hours from the time of their receipt.
<br />Agent will be held harmless if Owner does contest.
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<br /> 25. II~mmdiscrimination. In the performance of its obligations under this
<br />Agreement, Agent will comply with the provisions of any federal, state or local
<br />law prohibiting discrimination in housing on the grounds of race, color, creed,
<br />national origin, sex, marital status, disability, handicap or sexual
<br />preference, or including Title VI of the Civil Rights Act of 1964 (Public Law
<br />88-352), all requirements imposed by or pursuant to the Regulations of the
<br />Secretary (24 CFR, Subtitle A, Part I) issued pursuant to that Title; Executive
<br />Order 11063 and regulations issued pursuant thereto, and Title VIII of the 1968
<br />Civil Rights Act.
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<br />19:MGMTAGR.EHI (10/27/891 11
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