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(c) The Developer will, subject to the requirements of Section B - Installation and <br /> Maintenance of Improvements hereof, construct, operate and maintain the <br /> Improvements in accordance with the terms of this Agreement,the requirements of <br /> the TIF District and all local, state and federal laws and regulations, and will <br /> construct or pay the costs of construction of any site improvements, utilities, <br /> landscaping,stormwater management facilities,roads,or parking facilities which are <br /> necessary in connection with the construction and such improvements. <br /> (d) At such time or times as may be required by law,the Developer will have complied <br /> with all local, state and federal environmental reviews, licenses, and will be in <br /> compliance with the requirements of federal, state, and local authority. <br /> (e) The Developer will obtain, in a timely manner, all required permits, licenses and <br /> approvals,and will meet,in a timely manner,all requirements of all local, state,and <br /> federal laws and regulations which must be obtained or met before the Improvements <br /> may be constructed. <br /> (f) The Developer acknowledges that the TIF District is a"housing district" as defined <br /> in Section 469.174, Subdivision 11, of the TIF Act and, as such, is subject to the <br /> limitations provided in Minnesota Statutes, Section 469.174, Subdivision 11 and <br /> Section 469.1761, Subdivision 3 (together, the "Restrictions"). The Developer <br /> covenants that it will, with respect to the Improvements, observe and comply, and <br /> that it will cause the require any of its permitted successors and assigns to observe <br /> and comply with such Restrictions. In particular, and without limitation, the <br /> Developer covenants that at all times prior to the expiration of the Term the use of <br /> the property shall continue to qualify as a "housing district" under the TIF Act; <br /> specifically, that not less than 20% of the housing units shall be rented to tenants <br /> having annual income less than 50% of area median gross income. At least once <br /> annually,the Developer or Owner agrees to provide evidence satisfactory to the City <br /> of Orono of compliance with the applicable income limitation, including without <br /> limitation the total number of rental units during any reporting period and income <br /> verifications. <br /> (g) It is intended and agreed that the covenants provided in this Section shall remain in <br /> effect throughout the Terms and shall be covenants running with the land not the <br /> owner or developer. <br /> Page l0 of 17 <br />