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<br /> 6 <br /> <br /> <br />space of 12,000 square feet or less (“Phase Three Improvements”). Phase Three <br />Improvements will include construction of bundled parking up to a maximum of 3 parking <br />spaces per 1,000 square feet of office or retail space. Developer shall have the right to charge for <br />all bundled parking in the Phase Three. The parking may be constructed as above grade or <br />below grade structured parking as appropriate, to accommodate a sufficient number of parking <br />spaces and levels for the Phase Two and the Phase Three Improvements. Phase Three <br />Improvements also include bicycle parking, including bicycle lockers and shelters, as mutually <br />agreed between City and Developer. <br />The maximum square footage allowed under this Agreement for the Phase One, Phase Two and <br />Phase Three Improvements may not exceed 500,000 square feet in total. <br />1.4.6. Any proposed residential uses in Phases 2 and 3 will require entitlement or <br />design approval, including an amendment to the Planned Development and Site Plan Review, by <br />the Planning Commission and the City Council. <br />1.4.7. Additional Unbundled Parking. Additional parking in excess of the 3.6 <br />per 1000 square feet of building area parking spaces in Phase 1, 3.0 per 1000 square feet in Phase <br />2 and 3 may be constructed in Phase 1, 2, or 3 at the developer’s sole discretion, provided these <br />additional spaces are “unbundled” for public use. For the purpose of this Agreement “unbundled <br />parking” shall mean on-site public parking spaces that are available separately from those <br />bundled spaces provided to an occupant of the Project for that occupant’s exclusive use. <br />Developer may elect to charge parking fees for the use of the unbundled spaces. Developer shall <br />have the right to charge for unbundled parking. It is further understood that parking spaces in <br />excess of 3.6 spaces per 1000 square feet of building area constructed in Phase 1 would <br />constitute a “front loading” of the parking that will ultimately be required t o serve subsequent <br />phases of the development. The “bundled” and “unbundled” parking spaces may be constructed <br />as at grade surface parking, as above grade or below grade structured parking as appropriate, to <br />accommodate a sufficient number of parking spaces for all phases of the development. <br />1.4.8. Landscaping and Public Outdoor Activity Improvements. The Project <br />includes Developer’s construction and maintenance of a minimum of approximately 30,000 <br />square feet of public and outdoor activity area (“Public Improvements”) for use by the building <br />occupants and by the general public as further described in Exhibit D attached hereto and <br />incorporated herein by this reference. Developer shall retain the right to control use and access <br />of the public and outdoor activity areas located on the Project site (“Activity Areas”), and may <br />reasonably regulate public access to the Activity Areas to daylight hours. Developer may <br />temporarily restrict public access to portions of the Activity Areas for occasional private events <br />for Project tenants. <br />1.4.9. Public Art. Developer shall finance and place public art at appropriate <br />locations on the project site. <br />a. The amount to be used to fund the public art will be calculated as <br />one percent (1%) of the construction budget (the “Public Art Fund”), as based on the City’s <br />review of the Developer’s final construction budget for each phase. The Developer shall have the <br />option to 1) install the public art in each phase of construction, or 2) “frontload” the art