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EXHIBIT 2 <br />*AV :I1-.11a 7 <br />two -car garage with direct access to each unit (residents shall be required to park vehicles in the <br />garages and not use garages only for storage). The Project must also provide short-term <br />overflow/guest parking spots as follows: two (2) standards parking spots and one (1) accessible <br />parking spot. <br />2.5 No Further Concessions, Incentives, or Waivers. Developer acknowledges and <br />agrees that the concessions, incentives, and waivers set forth in section 2.3, and the parking <br />requirements set forth in section 2.4, above fully satisfies any duty City may have under the City <br />Density Bonus Ordinance, the Density Bonus Law, or any other law or regulation to provide any <br />density bonus incentive or to waive any building, zoning, or other requirement in connection with <br />a density bonus. By this Agreement, Developer releases any and all claims Developer may have <br />against City in any way relating to or arising from City's obligation to waive requirements of or <br />provide development incentives pursuant to the City Density Bonus Ordinance and the Density <br />Bonus Law applicable to the Project. <br />2.6 Affordable Units. The Project, for purposes of this Agreement, shall have no less <br />than six (6) Affordable Units, restricted for homeownership opportunities to Low Income <br />Households, pursuant to the terms and conditions of this Agreement. Each Affordable Unit shall <br />be consistent with all City approvals, and meet the following requirements: <br />2.6.1 Each unit shall have three (3) bedrooms and a minimum of two (2) <br />bathrooms; <br />2.6.2 Each unit shall have a private two -car garage with direct access to the <br />interior living space; <br />2.6.3 The interior living space of each unit shall range from a minimum of 1,100 <br />square feet to 1,430 square feet; <br />2.6.4 Each unit shall have a private yard; and, <br />2.6.5 One unit shall be constructed as an accessible unit with mobility and <br />communication features in compliance with the California Building Code. <br />2.7 Permits and Processing Compliance with Laws. Developer, at its sole cost and <br />expense, or as otherwise set forth in a separate written agreement, shall secure or cause to be <br />secured any and all permits that may be required for development of the Project by City or any <br />other federal, state, or local governmental entity having or claiming jurisdiction over the Property <br />or Project. Upon securing any and all permits, and all necessary financing and property interests, <br />Developer shall carry out and perform the development, operation, and maintenance of the Project <br />or cause the performance of the development, operation, and maintenance of the Project, in <br />conformity with all applicable federal, state, and local laws and regulations, and all conditions of <br />approval issued by the City Council and City's Planning Commission for the Project. Any changes <br />to the Project shall be reviewed by the City to determine compliance with this Agreement. If any <br />changes to the Project shall materially alter the ability of Developer to comply with any terms of <br />this Agreement in City's sole determination, then City and Developer shall meet and confer to <br />address amendments and revisions to this Agreement as necessary. <br />9 <br />5 53 94.00101 \42405 923.1 <br />