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Standard Terms and Conditions <br />of the Project Agreement <br />Table of Contents <br />Page <br />SECTION 1. <br />CITATIONS, HEADINGS AND DEFINITIONS............................................................. <br />6 <br />SECTION 2. <br />PERFORMANCE BY THE SPONSOR ............................................... I....................... <br />7 <br />SECTION3. <br />ASSIGNMENT...................................................................................................... <br />7 <br />SECTION 4. <br />RESPONSIBILITY FOR PROJECT........................................................................... <br />7 <br />SECTION 6. <br />INDEMNIFICATION............................................................................................... <br />7 <br />SECTION S. <br />INDEPENDENT CAPACITY OF THE SPONSOR......................................................... <br />8 <br />SECTION 7. <br />CONFLICT OF INTEREST...................................................................................... <br />8 <br />SECTION 8. <br />COMPLIANCE WITH APPLICABLE LAW.................................................................. <br />8 <br />SECTION 9. <br />RECORDS........................................................................................................... <br />9 <br />SECTION 10. <br />PROJECT FUNDING AND COSTS........................................................................... <br />9 <br />SECTION 11. <br />PROJECT REIMBURSEMENTS.............................................................................. <br />10 <br />SECTION 12. <br />ADVANCE PAYMENTS.......................................................................................... <br />11 <br />SECTION 13. <br />RECOVERY OF PAYMENTS................................................................................... <br />11 <br />SECTION 14. <br />COVENANTAGAINST CONTINGENT FEES............................................................. <br />17 <br />SECTION 15. <br />INCOME AND USE OF INCOME.............................................................................. <br />11 <br />SECTION 16. <br />PROCUREMENT REQUIREMENTS......................................................................... <br />12 <br />SECTION 17. <br />TREATMENT OF EQUIPMENT............................................................................... <br />12 <br />SECTION 18. <br />RIGHT OF INSPECTION........................................................................................ <br />12 <br />SECTION 19. <br />STEWARDSHIP AND MONITORING........................................................................ <br />12 <br />SECTION 20. <br />PREFERENCES FOR RESIDENTS........................................................................... <br />12 <br />SECTION 21. <br />ACKNOWLEDGMENT AND SIGNS.......................................................................... <br />13 <br />SECTION 22. <br />PROVISIONS APPLYING TO DEVELOPMENT, MAINTENANCE, RENOVATION, AND <br />RESTORATION PROJECTS.................................................................................. <br />13 <br />SECTION 23. <br />PROVISIONS APPLYING TO ACQUISITION PROJECTS ............................................. <br />13 <br />SECTION 24. <br />RESTRICTION ON CONVERSION OF REAL PROPERTY AND/OR FACILITIES TO <br />OTHERUSES....................................................................................................... <br />14 <br />SECTION 25. <br />CONSTRUCTION, OPERATION, USE AND MAINTENANCE OF ASSISTED PROJECTS.. <br />15 <br />SECTION 26. <br />PROVISIONS RELATED TO CORPORATE (INCLUDING NONPROFIT) SPONSORS........ <br />15 <br />RCO 16-1860C Page 4 of 23 <br />