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i i . ~ . ' WHEREAS, Developer's agreement to reserve the Affordable Unit pursuant to this Agreement and its offer of the Affordable Unit as shown in PLN# 2005-00049 and Tract # 7631are a material consideration to City in approving the Map and permitting development of the Property to proceed. AGREEMENT NOW, THEREFORE, based upon the foregoing recitals which are incorporated herein by this reference and in consideration of City's approval of the Map and permitting development of the property to proceed, Developer agrees to timely perform all of the covenants and obligations as set forth herein. 1.0 Inclusionarv Housinq Requirements. 1.1 Restricted Units. Developer agrees, at its sole cost and expense, to construct or cause to be constructed the Affordable Unit which shall be restricted and made available for sale to low-, and moderate-income persons or households, as allocated to the housing tract identified on Exhibit A of this Agreement. Said Affordable Unit shall be constructed in accordance with design and size standards in the planning approval, final subdivision map and/or building permit plans such as floorplans and elevation drawings shown in Exhibit B and incorporated herein as though fully set forth herein (collectively referred to herein as the "Plans") and in accordance with the inclusionary housing requirements set forth in San Leandro Zoning Code Part VI, Section 30. 1.2 Marketinq Plan. A marketing plan shall not be required from the developer unless the City determines and requests the need for one. Developer shall then submit a marketing plan to the City for approval prior to issuance of a building permit. The marketing plan will include at a minimum: 1) description of marketing/outreach strategy for the Affordable Unit, 2) description of the application and homebuyer selection process, 3) timeline for homebuyer selection, 4) role of partners involved in the sale and financing of the Affordable Unit such as lenders or realtors (if applicable), and 5) copies of marketing materials to be disseminated to the public. 1.3 Resale Restrictions. Concurrent with filing for approval and recordation of the Map, Developer shall cause to be recorded the Resale Restrictions and Deed of Trust in the form provided by City, to restrict the sale of the Affordable Unit to low- and moderate-income persons and households, as defined in the Resale Restrictions. 1.4 Other Conditions of Approval. In addition to the foregoing, Developer shall satisfy all other inclusionary housing requirements under the Agreement to Conditions for PLN# 2005- 00049 and Tract # 7631 between the Developer and City. 1.5 Use of City's Wait List to Locate Buyer. Developer must use the existing wait list for the City's Inclusionary Housing Ownership Program to seek out qualified and eligible homebuyers. Only after the Developer has made a good faith effort to fully utilize the wait list may the Developer seek alternative ways of soliciting eligible homebuyers, but only upon City approval of such alternatives. The City reserves the right to approve all homebuyers selected by the Developer to ensure compliance under the City's Inclusionary Zoning Ordinance. Page 2 of 26