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Section 4.4. Conditions Precedent. The City's obligation to issue the Note shall be subject to satisfaction, or waiver in writing by the City, of all of the following conditions precedent: (a) the Multifamily Developer shall not be in default under the terms of this Agreement; (b) the Multifamily Developer shall have secured all governmental permits and approvals, including building permits, necessary to construct and operate the Minimum Improvements; (c) the Multifamily Developer shall have obtained and submitted to the City acceptable evidence of ability to finance the Minimum Improvements as required under Section 7.1 of the Agreement; and (d) The Multifamily Developer shall have submitted to the City and the City shall have approved Construction Plans for the Minimum Improvements pursuant to Section 5.3 of this Agreement. Section 4.5. Developer Acknowledgement. The Multifamily Developer acknowledges that the City has made no warranties or representations to the Multifamily Developer as to the amounts of Tax Increment that will be generated or that the Tax Increment pledged to the payment of the Note will be sufficient to pay the Note in whole or in part. Nor is the City warranting that it will have throughout the term of this Agreement and the Note the continuing legal ability under State law to apply Tax Increment to the payment of the Note, which continued legal ability is a condition precedent to the City's obligations under the Note. Section 4.6. Assiemnent. The Multifamily Developer intends to assign the Note to the • First Mortgage Lender and HUD. The City agrees to cooperate with the Multifamily Developer in connection with such assignment, including the execution of such assignment documents as are required by the First Mortgage Lender or HUD. Section 4.7. Real Pronerty Taxes• Special Assessments. The Multifamily Developer shall pay all ad valorem taxes and special assessments levied on the Multifamily Development Property which are payable subsequent to the date Developer acquires title to the Multifamily Development Property and prior to the Maturity Date. Section 4.8. Other Public Assistance. The City agrees to cooperate and assist the Multifamily Developer in obtaining any fmancing for the Development in addition to the financing provided by the City pursuant to this Agreement. 12 •