BRANDYWINE ACQUISITION GROUP, LLC

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2. DEVELOPMENT OF THE PROPERTY 2.1 Project. Developer shall develop or cause the development of the Property as thirty-five (35) single-family attached townhomes, six (6) of which are proposed as Live/Work units, and four (4) as Moderate -Income Affordable Units. 2.2 Density Bonus. The Project Units are allowed under the City's Metro East Mixed Use Zone and General Plan. Therefore, no density bonus is required or provided. 2.3 Development Concessions, Incentives. and Waivers. As set forth in the City entitlements, Developer petitioned for and is hereby granted the following concessions, incentives, and waivers as part of the approval of Density Bonus Application No. 2022-02 for the Project: 2.3.1 Publicly accessible open space shall be reduced from fifteen percent (15%) of total lot area as required by the Metro East Mixed Use (MEMU) Overlay Zone to no less than five percent (5%) of total lot area in accordance with Government Code Section 65915(d)(2)(A). 2.4 No Further Concessions, Incentives, or Waivers. Developer acknowledges and agrees that the concessions, incentives, and waivers set forth in section 2.3 above fully satisfies any duty City may have under the City Density Bonus for Affordable Housing, the Density Bonus Law, or any other law or regulation to provide any density bonus incentive or to waive any building, zoning, or other requirement in connection with a density bonus. By this Agreement, Developer releases any and all claims Developer may have against City in any way relating to or arising from City's obligation to waive requirements of or provide development incentives pursuant to the City Density Bonus for Affordable Housing and the Density Bonus Law applicable to the Project. 2.5 Unrestricted Units. The Project, for purposes of this Agreement, may have no more than thirty-one (31) Unrestricted Units comprised of thirty-one (31) three -bedroom units. 2.6 Affordable Units. The Project, for purposes of this Agreement, shall have no less than thirty-five (35) single-family attached townhomes, six (6) of which are proposed as Live/Work units, and four (4) designated as Moderate -Income Affordable Units pursuant to the terms and conditions of this Agreement. The Affordable Units shall be consistent with all applicable City approvals. 2.7 Minimum Development Standards for Affordable Units. The Affordable Units shall be constructed in accordance with all applicable City approvals. 2.8 Permits and Processing; Compliance with Laws. Developer, at its sole cost and expense, or as otherwise set forth in a separate written agreement, shall secure or cause to be secured any and all permits that may be required for development of the Project by City or any other federal, state, or local governmental entity with jurisdiction over the Property or Project. Upon securing any and all required permits, and all necessary financing and property interests, Developer shall carry out and perform the development of the Project or cause the performance of the development of the Project, in conformity with all applicable federal, state, and local laws and