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(g). Developer Duties 13efore Closing. At al] times prior to Closing, Developer shali comply with the fo�lowing: (i) Except far de�r►olition, cIearance and seeding, Developer shall maintain the Triangle Parcel in the same condition as in existence on t�te date hereof and shall comply at a]] times with all applicable cades arad ordinances; (ii) Develaper shal] contir�ue to pay all real esta#e taxes and any installments oF special assessrnen#s certified thereto which become due and payable' (iii) Developer shall not permit the storage, release or disposal of hazardous or taxic subsiances or contaminants on the Triaagle Parcel; {iv) Developer shall not encumber, permit liens to attach to, or convey any interest in the Tria�gle Parcel to any other party; (v) No per�aner�t improvements shal� be constructed on the TriangIe Parce� without the City's written consent; and (vi) Developer shall pay al� utilities due up to and incIUding the Closing Date. Section 3.6. Relocation. The parties agree and understand that Developer may temporar►ly relocate residents af the existing buildings on Developmer�t Property during construction of the Mini�um improvements, and rnay also terminate leases to tenants of the Triangle Parcel. Without Iimiting the Developer�s obligations �nder Section $.3 hereaf, the Developer will indernnify, defend, and hold harm}ess the City and its governing body members, errz�loyees, agents, and cantractors from any and all claiins for benefts or payments arising out of the relocation or displacement of any p�rson from the existir�g improvements on ihe Development Property, or termination of any lease of the Triangle Parcel, as a result of the implementation of this Agreement_ Nothrng in this Section is intended to make any otl�er person or entity a third-party beneficiary ofthis Agreement. Section 3.7. Records. The City and its representatives shal� ha�e the righ# at all reasonab�e tirr�es after reasonable notice to i��spect, examine and copy all books and records of Developer relating to the Minimum lmpro�ements and the Publie Development Costs. Sectior► 3.8. TTF Lookbaek. {a) De�eloper acknowledges that the levei of tax increment assistance �n this Agreement is based on Developer's Public Development Costs, the costs of the Minimum Irriprovements, and terms of the Housing Re�enue Bonds that are De�eloper's expected source of capita] financing. Upon completion of the last Phase of �he Minirnum Irnprovements, issuance of the last series of Housing Revenue Bonds, and completio� of at least one fscal year of operation of alI the Minimum Improvernents (the "Calculation Date"), Developer will submit to #he City a pro farma updated to reflect alI actual costs of deveIopment of the Minimu�t Improvetnents, incluciing an estimate of the c�ebt service coverage ratio for all outstanding Hqusing Revenue Bonds for �ve fiscal years after Calculation Date. For purposes of caiculating debt service coverage, operating re�enues from the Developer's care center (which is located on the same property bttt is not part of the Minimurrt lmprovements} wi11 be exclezded. If the mean projected [�ebt coverage ratio for all outstanding Housing Revenue Bonds for those five fiscal years (ttte "Actuat Coverage") exceeds the debt service coverage for those years that was used for purposes of marketing the outstanding Housing Re�enue Bonds, plus five percentage points (t�e "Adjusted Marketing Caverage"}, the City wil] calculate the net present value (as of the Calculation Date) of tl�e arr�ount by which the actua] cash flow after debt service on all Housing Re�enue Bonds for the relevant five-year period exceeds the cash flow after debt service that would result 1�