Laserfiche WebLink
EXHIBIT 2 <br />EXHIBIT D <br />2.8 Common Interest Development. The Project shall be operated as a "common <br />interest development" as defined in California Civil Code § 4100 and operated in accordance with <br />all state laws regarding common interest developments. <br />2.9 Mechanic's Liens; Indemnification. Developer shall take all actions reasonably <br />necessary to remove any future mechanic's liens or other similar liens (including design <br />professional liens) against the Property or Project, or any part thereof, by reason of work, labor, <br />services, or materials supplied or claimed to have been supplied to Developer or caused by, at the <br />direction of, or on behalf of Developer. Prior to the recording of this Agreement (or memorandum <br />thereof) pursuant to Section 4.1 below, Developer shall provide evidence from the Title Company <br />of any new recordings against the Property or Project. City hereby reserves all rights to post notices <br />of non -responsibility and any other notices as may be appropriate upon a filing of a mechanic's <br />lien. In addition to any other indemnity provided by Developer under this Agreement, Developer <br />shall indemnify, defend (with counsel of City's choosing and the consent of Developer, which shall <br />not be unreasonably withheld, conditioned or delayed and which may be joint defense counsel <br />upon City's and Developer's consent), and hold harmless City and all of its officials, officers, <br />employees, representatives, volunteers and agents from any and all alleged or actual claims, causes <br />of action, liabilities, and damages from any third party by reason of a mechanic's lien or work, <br />labor, services, or materials supplied or claimed to have been supplied to Developer or caused by, <br />at the direction of, or on behalf of Developer. <br />3. AFFORDABILITY <br />3.1 Total Affordability. Each Affordable Unit shall be restricted for sale to an <br />Eligible Household for a total period of no less than forty-five (45) years ("Total Affordability <br />Term"). The Total Affordability Term for an Affordable Unit shall commence on the date that the <br />Affordable Unit receives all required occupancy permits from the City and a Certificate of <br />Occupancy. <br />3.2 Memorializing Commencement of Total Affordability Term. Developer shall keep <br />or cause to be kept detailed records of the commencement date of the Total Affordability Term for <br />each Affordable Unit. City shall have the right to review and verify said records without a fee from <br />City to Developer to ensure that the commencement date specified by Developer for an Affordable <br />Unit coincides with the date that the initial Affordable Unit received all permits from City required <br />for occupancy of the Unit. In the event that a conflict exists between the date specified by <br />Developer for the commencement of the Total Affordability Term for an Affordable Unit and the <br />date specified by City's issuance of all required permits for occupancy of the Unit, the date <br />specified by City's issuance of all required permits for occupancy of the Unit shall control. <br />3.3 Affordability Covenants and Restrictions. <br />3.3.1 Affordable Homeownership. Developer covenants that, during the Total <br />Affordability Term, each Affordable Unit shall be sold to, or held vacant for sale to, an Eligible <br />Household for an Affordable Sales Price. <br />3.3.2 Affordable Sales Price. The Affordable Sales Price is equal to the sum of <br />the Supportable Mortgage plus, if applicable, the Benchmark Down Payment. Prior to the sale of <br />10 <br />5 53 94.00101 \42405 923.1 <br />