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<br /> specifics on those jobs filled/to be filled by low and <br /> moderate income persons. <br /> 12. Submit to City a hiring plan that includes methods of <br /> identifying and training potential low/moderate income <br /> applicants. <br /> 13. Assign City an insurance policy on the life of Henry 01es <br /> in an amount of not less than $14Ø,ØØØ.øø. This policy shall <br /> list City as beneficiary and shall be held by City until loan <br /> funds provided under this contract are paid in full. <br /> 14. Execute a Deed of Trust conveying the property described <br /> in Exhibit "A" to Brenda K. Smith in Trust attaching a third <br /> lien on the property and securing payment of the real estate <br /> lien note. <br /> PART IV.- Miscellaneous Terms and Conditions <br />A. Termination of contract for cause. If, through any cause, EPS <br />shall fail to fulfill in a timely and proper manner its <br />obligations under this AGREEMENT, or if EPS shall violate any of <br />the covenants, agreements, or stipulations of this contract, City <br />shall have the right to terminate this contract by giving written <br />notice to EPS of the termination and specifying its effective date <br />at least five (5) days before the effective date of the <br />termination. <br />B. Default. If, through any cause, EPS shall fail to ful fill in <br />a timely and proper manner its obligations under Part I. - Real <br />Estate Lien Note of this AGREEMENT, or if EPS shall violate any of <br />the covenants; agreements, or stipulations of this AGREEMENT and <br />the default continues after City gives EPS notice of the default <br />and the time within which it must be cured as may be required by <br />law or written agreement, then City shall have the option to <br />declare the entire unpaid balance of both the principal and <br />accrued interest immediately due and payable and may therefore <br />foreclose any and all liens securing payments for the same. EPS <br />and each guarantor waive all demands for payment, presentations <br />for payment, notices of intention to accelerate maturity, notices <br />of acceleration of maturity, protests, notices of protest, to the <br />extent permitted by law. Failure of the City to exercise this <br />option shall not consitute a waiver of City's right to exercise <br />said right in the event of subsequent default, if any. <br />C. Reports and Information. EPS, at such times and in such forms <br />as City may reasonably require shall furnish City such periodic <br />reports as it may request pertaining to the work or services <br />undertaken pursuant to this AGREEMENT, the cost and obligations <br /> -5- <br />