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602.2 Permitted Transfers. Notwithstanding any other prevision of this Agreement to the contrary, the Agency approval of a Transfer shall not be required in connection with any of the following: (a) Any tran s fern of Ph ase -1 and Phase R-2 of the S ite or as s i g n me n t of t he A gree men t wl th respec t to Ph a se -1 and Phas a R-2 to an enti ter or enti ties (each, "`Tax Credit Partnership") in which the Developer o r a limited liability company in which The belated Companies of California, LL C, directly or indirectly, owns a controlling interest) is a general partner or managing member. Affordable Housing Access, Inc. or a limited l i ab i I i t o mp a ray in which Affordable Housing Access, Inc. is s managing member) is hereby pre-approved as a general partner or managing member of any such Tax Credit Partnerships. (b) Any grant by a Tax Credit Partnership of a purchase option and/or right of first refusal of its rights i n and to Phase i 1 and/or Phase R-2 to affiliates of The Related Companies of California, LLC and/or Affordable Housing Access, Ire e x or the transfer of Phase 1 -1 and/or Phase R-2 pu rsu ant thereto. (c) The conveyance or dedication of any portion of the Site to the City or other appropriate governmental agency, o r the granting of easements or permits to facilitate construction of the Developer Improvements. (d) Any requested assignment for financing purposes (subject to such financing being eon side red and approved by the Agency pursuant to Section 316 herein), including the grant of a deed of trust to secure the funds necessary for construction and permanent fm an in g of the Developer Improvements. (e) Subject to the provisions of this Agr emen t, the 1e asing of rental Un its to qua i i fled persons and households in the normal course of business. (f) Subject to the provisions of this Agreement* the sale of For -Sale Units to qualified persons and households in the normal course of business. (g) Any Transfer of the For-Sale Portion of the Project and the corresponding rights and obligations of this Agreement relating to Phase FS and the For-Sale Portion to City Ventures, LL C, a Delaware limited liability comp any or a limited liability company in which City Ventures, LLC or an entity controlled by City Ventures} LLC is the managing member and, directly or indirectly, owns a controlling interest) provided that City Ventures assumes all of the provisions of this D A that relate to and/or concern the For- ale Portion of the Project pursuant to an assumption agreement or assignment and assumption agreement) that is submitted to and approved by the Agency xe u ti a Director. Notwithstanding anything to the contrary contained in this Agreement, or otherwise, upon any Transfer contemplated by e ctions 602.2(a) or g above, the Agency shall release and forever discharge the Developer from any further liability or obligation with respect to the obligations under this Agreement as to the Phase to which such assignment(s) relate, which release shall include, without limitation, re le a e under ee ti on 1 542 of the California Civil Code. The Agency shall provide such release in writing concurrent with such assignment or DO 1400673v l4/200272- 1