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building permits for either of the Lake Towers and/or Cinema Tower until such approvals are reinstated or reapproved. 5.1.5 Avigation Easement. The Owner shall, prior to issuance of the first building permit for the Project, execute the Avigation Easement in favor of the City. Owner and City may make non-substantive alterations in the A vigation Easement prior to its execution, to the extent such changes are approved by Owner and City (as to content by the City Manager, and as to form by the City Attorney). 5.1.6 Limit on Fast Food and Take Out Restaurants. At no time during the Term shall the Project include retail space which is devoted to "fast food" and "take out" restaurants. For purposes of this Agreement, a restaurant shall not be deemed to be a "fast food" or "take out" restaurant if it provides sit-down dining areas and primary table service for ordering and delivering meals and beverages, and take out service ancillary to such services. 5.1.7 Development, Construction and Completion of Public Art. As provided in Exhibit B, Owner shall include within the Project, at a prime location visible to the public, a single or grouped permanent work of public art at a cost not to exceed Five Hundred Thousand Dollars ($500,000) consistent with the Public Art Plan (the "Public Art") Owner shall submit the Final Design within three hundred and sixty five (365) days from the issuance of the first building permit for the Project and shall install the Public Art not later than issuance by the City of the first certificate of occupancy for any Element. Owner may assign ownership, maintenance and/or repair responsibilities to one or more Owners' Association(s). 5.1.8 Inclusionary Housing Fee. Owner shall pay to the City the sum of Three Thousand Dollars ($3,000) for each Residential Unit contained in each Element ("Inclusionary Housing Fee"). The Inclusionary Housing Fee shall be paid with respect to each Element containing Residential Units at such time as 75% of the Residential Units within such Element have received Utility Releases. The Inclusionary Housing Fee shall be used by the City for planning (including but not limited to preparation of one or more elements of its general plan or for zoning amendments), conceptual design, final design, bid preparation, award of bid, property appraisal, property acquisition, relocation, lost goodwill, and/or construction of new or substantially rehabilitated existing affordable housing in the City. 5.1.9 In-Lieu Park Development Fee. The Owner shall pay an in-lieu park development fee in the amount of Two Million Six Hundred Thousand Dollars ($2,600,000) with respect to the Residential Units within the Project ("In-Lieu Park Development Fee") payable for each Element in which Residential Units are located at such time as 75% ofthe Residential Units within such Element have received Utility Releases, based on a fraction the numerator of which is the total number of Residential Units in an Element and the denominator of which is the total number of Residential Units in the Project. The City shall use not more than twenty five percent (25%) of the In-lieu Park Development Fee for the acquisition of the land for parks and the construction of capital improvements and deferred maintenance at existing parks at any location within the City and not less than seventy five percent (75%) ofthe In Lieu Park Development Fee shall be utilized by the City in the Quadrant of the City (as set forth in the City's Park A & D Fee Program) in which the Project is located. If a special tax district, benefit assessment district or other obligation is created for park DOCSOC/1 I I0339v7/24579-0001 11 75B-98