Item 42 - Exchange of Real Property and Purchase of Land

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(g) Affordable Housing Covenant in the Event of Residential Development. In accordance with California Government Code Section 54233, if 10 or more residential units are developed on the City Property, not less than 15 percent of the total number of residential units developed on the City Property shall be sold or rented at affordable housing cost, as defined in Section 50052.5 of the Health and Safety Code, or affordable rent, as defined in Section 50053 of the Health and Safety Code, to lower income households, as defined in Section 50079.5 of the Health and Safety Code. Rental units shall remain affordable to, and occupied by, lower income households for a period of at least 55 years for rental housing and 45 years for ownership housing. The initial occupants of all ownership units shall be lower income households, and the units shall be subject to an equity sharing agreement consistent with the provisions of paragraph (2) of subdivision (c) of Section 65915 of the Government Code. Manh expressly agrees and consents that the requirements of this section shall be contained in a covenant or restriction recorded against the City Property prior to land use entitlement of the project, and the covenant or restriction shall run with the land and shall be enforceable, against any owner who violates a covenant or restriction and each successor in interest who continues the violation, by any of the entities described in subdivisions ( a) to (t), inclusive, of Section 54222.5 of the Government Code. 4.2 Representations and Warranties of Manh. Manh makes the following representations and warranties with respect to the Manh Property, each of which shall survive Close of Escrow: (a) The execution and delivery of this Agreement, performance hereunder, and the consummation of the transaction contemplated hereby will not constitute a violation of any order or decree or result in the breach of any contract or agreement to which Manh is at present a party or by which Manh is bound. (b) To Marsh's actual knowledge, no litigation and no governmental, administrative or regulatory act or proceeding regarding the environmental, health and safety aspects of the Manh Property is pending, proposed or threatened. (c) Manh will not enter into any agreements or undertake any new obligations prior to Close of Escrow that will in any way burden, encumber or otherwise affect the Manhs Property without the prior written consent of the City. (d) Manh is aware of its obligation under California Health and Safety Code Section 25359.7 to disclose any knowledge which they may have regarding any release of Hazardous Substances (as defined by applicable federal, state and local statutes, rules and regulations) upon or under the Manh Property. Manh warrants and represents to the City that Manh is not aware that any such Hazardous Substances have been generated, stored or disposed of upon or under the Manh Property. (e) To the best of Manh's knowledge the Manh Property complies with all applicable laws and governmental regulations including, without limitation, all applicable federal, state, and local laws pertaining to air and water quality, hazardous waste, waste disposal, and other environmental matters, including, but not limited to, the Clean Water, Clean Air, Federal Water Pollution Control, Solid Waste Disposal, Resource Conservation Recovery and Comprehensive Environmental Response Page 6of11