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Section 15. DOVE shall be additionally obligated to maintain the Subject Property to
<br /> minimum code standards of the City.
<br /> a) Maintain the Property as residential rental property; and
<br /> b) Operate the Property in compliance with all applicable rules and regulations
<br /> for HOME assisted units, which shall, at minimum, continue for a twenty
<br /> (20) year "affordability period." "Affordability period" shall be defined as
<br /> the period of time equal to twenty years (unless terminated earlier pursuant to
<br /> the terms of this Agreement) commencing on the date the construction is
<br /> completed, and 100% of the units are leased, as measured from the date all
<br /> required data regarding the leasehold interests in the units shall have been
<br /> entered into HUD's Integrated Disbursement Information System, and
<br /> continuing for a period of twenty consecutive years thereafter. DOVE's
<br /> obligation hereunder shall survive termination of this Agreement.
<br /> Section 16. Both DOVE and City shall maintain records for the twenty(20)year period
<br /> of affordability, and an additional 5 years. DOVE's obligation hereunder shall survive
<br /> termination of this Agreement. As required under 24 CFR 92.508(a)(3)(i), 92.508(a)(3)(ii),
<br /> 92.508(a)(3)(iii), 92.508(a)(3)(iv), and 92.508(a)(3)(xiv), DOVE's records must specify the
<br /> project location, document eligible and permissible project costs for both HOME-assisted units
<br /> and non-assisted units, include underwriting evaluations, copies of inspection reports, and
<br /> include copies of written agreements for compliance.
<br /> Section 17. No person who exercises or has exercised any functions or responsibilities
<br /> with respect to the project assisted with HOME funds or who are in a position to participate in a
<br /> decision-making process or gain inside information with regard to the activities may obtain a
<br /> financial interest or financial benefit from the HOME-assisted activity, or have a financial
<br /> interest in any contract, subcontract, or agreement with respect to the HOME-assisted activity or
<br /> the proceeds from such activity, either for themselves or those with whom they business or
<br /> immediate family ties, during their tenure or for one year thereafter. Immediate family ties
<br /> include (whether by blood, marriage, or adoption) the spouse,parent (including a stepparent),
<br /> child (including a stepchild), brother, sister(including a stepbrother or stepsister), grandparent,
<br /> grandchild, and in-laws of a covered person. A covered person applies to any person who is an
<br /> employee, agent, consultant, officer, or elected official or appointed official of the city or DOVE.
<br /> Section 18. DOVE shall maintain the premises and each rental unit within the premises
<br /> in a safe and sanitary condition. The premises shall be maintained in compliance with all
<br /> applicable City Building, Plumbing, Electrical and Mechanical Codes currently and as amended.
<br /> DOVE further agrees to observe and comply with all rules, regulations, statutes, ordinances, and
<br /> laws, now in force or which may be enacted during the term of this Agreement by any
<br /> municipality, county, state, or federal authorities having jurisdiction over the premises. DOVE
<br /> shall schedule and City shall conduct an annual inspection of the premises to determine
<br /> compliance with the terms of this Agreement. Should the property be in violation of any such
<br /> codes, laws, regulations, ordinances, or rules, DOVE will be given a period to correct the
<br /> violation and request an inspection. Should the second inspection result in a finding of such
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