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(d) Termination of Agent shall be conditioned upon and subject to the release of <br />Agent and its affiliates from any guarantee, indemnity or other financial assurance <br />provided by Agent or its affiliates to any tax credit investor (the "Tax Credit Investor"} in <br />connection with the development, financing and operation of the Project. <br />7. Management of the Property. <br />(a) Agent acknowledges and agrees: (i) that Owner is obligated to maintain and <br />operate the Property in compliance with all applicable requirements of Section 42 of the <br />IRS Code of Regulations, the Tax Credit Restrictive Covenants, and the regulations and <br />policies of the Owner (which shall, at ail times, be consistent with all applicable Tax <br />Credit requirements and regulations} and (ii) that Agent is responsible to Owner for the <br />management of the Property in accordance with the foregoing (and, in the event that <br />Agent believes that a conflict or potential conflict exists among the foregoing authorities, <br />Agent shall consult with Owner regarding the resolution thereof). <br />(b) Agent agrees to comply with the terms and conditions of the Management Plan. <br />Owner and Agent will comply with all applicable provisions of the Management Plan, <br />whether or not specific reference is made thereto in any particular provision of this <br />Agreement, so long as such provisions of the Management Plan are not in conflict with <br />this Agreement, and in the event of a conflict between the provisions of this Agreement <br />and the Management Plan, the provisions of this Agreement shall control. Agent will <br />continually review the Management Plan for the purpose of keeping Owner advised of <br />necessary or desirable changes. <br />(c) Agent agrees that one or more members of its full time on-site staff members of <br />the Property shall obtain one or more of the following certifications, training and <br />memberships within one year of the date of this Agreement, such that all of the following <br />shall have been undertaken by one or more of such full time on-site staff members of the <br />Property within one (I }year from the date hereof: <br />(i) tax credit certification; <br />(ii) fair housing training; <br />Upon obtaining such certificates or memberships or completing such training, such staff <br />members shall maintain such in good standing. At such time as any such staff person is <br />no longer on site on a full time basis or has failed to maintain such certifications in good <br />standing the Agent shall have one (1) year to either replace the staff member with a <br />qualifying staff member or arrange for an existing full time onsite staff member to obtain <br />such certificates or training. <br />Agent shall provide documentation to the Owner that any manager of the Property has <br />completed or will complete, within ninet}= (90) days after the beginning of lease-up, <br />training to include, but not Limited to the following areas: operating and understanding <br />separate software for rent receivables, tax credit eligibility°, UPCS standards, and Section <br />42 rules and regulations for determining income eligibility. <br />4 <br />