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14 similar to the one contemplated by this Agreement (the “Developer Hotel Title Policy”). The Title Company shall provide the City with a copy of the Developer Hotel Title Policy. (f) No Default. No Event of Default of this Agreement by City shall then exist, and no event shall then exist which, with only the giving of notice or the passage of time or both, would constitute an Event of Default by City. 1.4.4. Multifamily Element. The Multifamily Element shall be located on that portion of the Property described in Exhibit E, attached hereto and incorporated herein by this reference (the “Multifamily Parcel”). Developer shall design and construct a Multifamily residential development with approximately two hundred eighty-five (285) rental units, including parking, landscaping, lighting and all onsite and offsite utilities, including but not limited to fiber optic internet service to all units, all in conformance with the Scope of Development, City Building and Zoning codes, and pursuant to plans to be approved by the City. Developer shall also perform demolition, rough grading, and provide clean fill as a part of site preparation (including sea level rise mitigation), and install surface improvements for the portions of the publicly accessible Bay Trail path located on the Multifamily Parcel, in accordance with the Scope of Development. City and Developer shall mutually agree upon a budget for such improvements. In accordance with Municipal Code, Chapter 7-13, a credit against the applicable Park Facilities Development Impact Fee, in an amount equal to the cost of such public facility and in accordance with the approved budget, shall be provided by the City. Parking for the Multifamily Element shall be provided in accordance with all applicable requirements of the San Leandro Zoning Code or as otherwise approved by the City. The Multifamily Element shall meet the objectives of the City’s Inclusionary Housing Ordinance (San Leandro Zoning Code section 6-3000 et seq.) by paying a fee in-lieu of providing affordable rental units (the “Affordable Rental Housing In-Lieu Fee”). The Affordable Rental Housing In-Lieu Fee is equal to five dollars ($5.00) per rentable square foot of the Multifamily residential building provided for herein. If Developer elects not to pay the Affordable Rental Housing In-Lieu Fee, the size and income distribution of the affordable rental units shall be subject to the requirements of the Inclusionary Housing Ordinance. The unit mix of the Multifamily Element and any amenities are subject to the Project Approvals, as defined in Section 2.1 hereof. The City is the lessor of certain existing leases for boat storage located on the Multifamily Parcel. Such leases are currently on a month-to-month basis (the “Existing Boat Leases”). The City has the right under the Existing Boat Leases to terminate such leases upon at least thirty (30) days’ notice to the tenants. Developer shall give at least sixty (60) days’ notice to City of Developer’s intended date for signing and commencement of the Multifamily Ground Lease in order to provide City sufficient time for termination of the Existing Boat Leases and relocation of the existing tenants. City shall be responsible for determining and providing any relocation assistance required under applicable law to be provided to the existing tenants, if any is so required. Subject to the satisfaction (or waiver by the benefitted party or parties) of the Conditions Precedent to Commencement of Multifamily Ground Lease set forth below, City shall enter into a ground lease with the Developer, whereby the City shall lease the Multifamily Parcel to the