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CITY COUNCIL DRAFT <br />1.1.41 "Unit" means a residential dwelling unit within the Project to be <br />constructed or caused to be constructed by Developer. <br />1.1.42 "Unrestricted Units" means the Units within the Project to be constructed <br />or caused to be constructed by Developer and sold at market rate without restriction. <br />1.2 Exhibits. The following documents are attached to, and by this reference made <br />a part of, this Agreement: <br />1.2.1 Exhibit A: <br />1.2.2 Exhibit B: <br />1.2.3 <br />Exhibit C: <br />1.2.4 <br />Exhibit D: <br />1.2.5 <br />Exhibit E: <br />1.2.6 <br />Exhibit F: <br />1.2.7 <br />Exhibit G: <br />1.2.8 Exhibit H: <br />1.2.9 Exhibit I: <br />Legal Description of the Property <br />Affordable Housing Resale Restrictions, Equity <br />Sharing and Regulatory Agreement <br />City Promissory Note <br />City Deed of Trust <br />Income Verification Form <br />Certification of Continued Occupancy <br />Notice of Affordability Restrictions on Transfer of <br />Property <br />Request for Default <br />Affordable Sales Price <br />2. DEVELOPMENT OF THE PROPERTY <br />2.1 Project. Developer shall develop, operate, and maintain, or cause the <br />development, operation and maintenance of, the Property as thirty six (36) Units, with four (4) <br />Affordable Units for Eligible Households and thirty two (32) Unrestricted Units in accordance <br />with this Agreement and the Project Approvals. Notwithstanding anything to the contrary <br />contained herein, in no event shall this Agreement apply to any of the Unrestricted Units and such <br />Unrestricted Units shall not be subject to any of the covenants, restrictions, requirements, or <br />provisions of this Agreement which are applicable to the Affordable Units and this Agreement <br />shall not be recorded on the title of any of the Unrestricted Units. <br />2.2 Density Bonus. The Project shall have thirty six (36) Units, to be sold, owned, <br />occupied, operated, and maintained pursuant to the terms and conditions of this Agreement. <br />Developer understands and agrees that Developer is not requesting an increase in density and that <br />this Agreement does not allow or approve an increase in residential density over the allowed <br />density regulations of the City. Developer shall not construct or develop, or otherwise claim a <br />right to construct or develop any additional residential units on the Property under this Agreement. <br />2.3 Development Concessions, Incentives, and Waivers. As set forth in the City <br />entitlements, Developer petitioned for and is hereby granted the following concessions, incentives, <br />and waivers as part of the approval of Density Bonus Application: <br />2.3.1 Concession. In accordance with Government Code Section 65915(d)(1), the <br />Project is granted one (1) concession as follows: The Project shall not be required to provide <br />vehicular access from a secondary street and may provide vehicular access from Harbor <br />Boulevard, subject to the Project Approvals. <br />Page 8 <br />55394.00 10 1\43724951.1 <br />