RDA Agmt 2004 1040 Davis Partnership LLC

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new sidewalks and street trees as required by the City of San Leandro, and that this constitutes part of the Improvements. For the purposes of this Agreement, a material change or deviation in the Construction Plans shall mean any increase or decrease of five percent (5%) or greater in the number of square feet of the Improvements, or a change in the location of the building from that shown in the Development Plan. At the time Developer submits its Construction Plans to the Agency, it shall apply to the City of San Leandro for, diligently pursue and obtain all further permits necessary for the construction of the Improvements, including a Lot Line Adjustment to combine all four parcels into one. Developer acknowledges that execution of this Agreement by the Agency does not constitute approval by the City of San Leandro, does not limit in any manner the discretion of the City of San Leandro in the approval process, and does not relieve Developer from the obligation to obtain all necessary permits, including building permits. Developer shall promptly pay when due all customary and reasonable fees and charges of the City of San Leandro in connection with the processing and consideration of the City permits and approvals contemplated by this section. With regard to City of San Leandro Development Fee for Street Impact (DFSI) and Utility Under- grounding Conversion (UUC) fees for the Improvements, Developer shall be assessed these fees as required by the Municipal Code, and the DFSI calculation shall take into account credit for the existing building based on 300 SF of office and 4700 SF of warehouse in its previous use. The Agency will advance the assessment on behalf of the Developer in consideration of the benefit of the project. Developer will repay the assessment total for DFSI+UUC in equal monthly installments for 48 months beginning the month after building permit issuance for Building B. Monthly payments shall include a financing charge (approximately $12 per month in 2004), subject to change by Agency's servicing agent. 3.02 Construction Pursuant to Plans and Funded by Developer. Developer will begin construction of all work for which City permits are obtained within sixty (60) days of date of issuance of said permit. Unless modified by Section 3.03 of this Part, all works of construction and development on Property shall be done in accordance with the Construction Plans approved pursuant to Section 3.01 above. Developer shall pay all costs of construction of the Improvements. The Agency considers the Project to be a "public work" subject to the payment of prevailing wages as generally described in Labor Code Section 1720. Developer shall place a construction sign, of size and design approved by the Agency, on the premises in a location visible from Davis Street, with information about the project, contact information for the contractor, the City logo, and the phrase "In Cooperation with the City of San Leandro Redevelopment Agency". The sign shall remain visible and in good condition on the site throughout the construction period. 3.03 Change in Construction Plans. If the Developer desires to make any material change in the Construction Plans, the Developer shall submit the proposed change to the Agency for its approval which approval shall not be unreasonably Disposition and Development Page S Agreement - 1040 Davis Street May 14, 2004 FINAL