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and Occupancy for any building, or five (5) years from the effective date of this Agreement, whichever comes first: With respect to the Final Design, Owner shall complete all construction and development, shall submit all plans, drawings, and other documents, and perform all of its obligations under this Agreement within the times specified above. During periods of construction of the work of public art encompassed in the Public Art Locational Plan, Owner shall submit to the City a written report of the progress of the construction when and as reasonably requested by the City. The report shall be in such form and detail as may be reasonably required by the City, and shall include a reasonable number of construction photographs (if requested) taken from the last report by Owner. Development scheduling or date or times of performance may be subject to revision from time to time if first mutually agreed to in writing. Such revisions do not constitute amendments requiring further notice and public hearing. 5.8.2 Inclusionary Housing Fee. Owner shall pay to the City the sum of $3,000.00 per residential unit (or live-work unit) as a condition of issuance of each building permit. This fee shall be used by the City to build new or substantially rehabilitate existing affordable housing in the City. 5.8.3 Cultural In-Lieu Fee. The parties acknowledge that the Original Agreement included the requirement that Owner construct a 125-fixed seat legitimate theater as part of a dual-purpose, "multiplex" motion picture theater complex Due to modifications to the Project from the Original Agreement to this Agreement, Owner agrees that in lieu of constructing said theater, it will pay the City a fee of$400,000.00 upon the issuance of the first building permit for the Project. The City agrees to use this fee toward the design and construction of a theater. 5.8.4. Park Requirements. a. Santiago Park Improvements. The Owner shall pay a special Santiago Park fee of $1.64 per square foot of net rentable or salable square feet of development as a condition of issuance of each building permit. The parties acknowledge and agree that this contribution is in addition to any tax or fee or dedication imposed by the City on new residential development. The City shall use said fees for deferred maintenance and capital improvements to Santiago Park. If not used or appropriated within five years after payment, this fee shall be returned to Owner, consistent with the provisions of and exceptions contained within the California Mitigation Fee Act, Government Code § 66000 et seq. This fee shall be offset against the fee owed the City pursuant to section 5.8.4(b) of this Agreement (i.e., the amount in the "In- Lieu Park Fee" required of Owner shall be reduced by an amount equal to the special Santiago Park fee paid by Owner pursuant to this section). b. In-Lieu Park Fee. The Owner shall pay an "in lieu" fee at the value of $35.50 per square foot of area to be dedicated pursuant to the standard established by section 34- 204 et seq. of the Santa Ana Municipal Code, as specified in the City's site plan review letter; provided, however that the fee may be increased yearly by the average rate of increase in land 12 Ordinance NS-2677 Page 16 of 38