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improvements and deferred maintenance at existing parks at any location within the City and not less than seventy five percent (75%) of the 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 purposes, inclusionary housing purposes and/or to fulfill any obligation under the Cooperative Agreement such district or other obligation shall not include the Property. 5.1.10 Covenants, Conditions, and Restrictions. Covenants, Conditions, and Restrictions (CC&R's) must be provided and approved by the Planning and Building Agency's Executive Director for the Project prior to the issuance of the first building permit. Such CC&R's must contain at a minimum, the following: (1) To the extent permitted by law, no more than four residents shall occupy a Residential Unit with less than three (3) bedrooms and no more than five (5) residents shall occupy a Residential Unit with three (3) bedrooms. (2) No home occupancy shall be permitted in a unit, except in accordance with Section 41-192 et seq. of the Santa Ana Municipal Code. (3) Assignment of repair of perimeter walls and common areas, including landscaping, will be specified in the CC&R's in the event of damage. (4) Patios and balconies shall not be utilized for the storage of household items, except (A) furniture designed for outdoor use, (B) barbecues, and (C) plants including plant racks and stands. (5) Disclosure and release: CC&R's shall provide notice to prospective owners of the urban character of the City and this area, including but not limited to the permitted uses of the property and buildings in the immediate area of the development (e.g., MacArthur Place, Griffin Towers, John Wayne (SNA) Airport, and surrounding property zoned and/or devoted to high density residential and commercial use), and shall provide a release of claims against the City by the buyer of each Residential Unit which may arise from or relate to the disclosed matters. (6) Terms and Content: i. CC&R's are to be in effect for an initial period of ninety-nine years and then automatically expanded for successive one hundred year periods unless terminated by the joint consent of the City and not less than seventy five percent of those entitled to vote. ii. Any proposed material modifications to the CC&R's which effect the City's interests will require approval by the Executive Director of Planning and Building Safety Agency. 5.1.11 Parking Structure Easement. Owner shall assign any and all rights it has to use the "Teacher's" parking structure located on Assessor's Parcel Number 411-081-22, together with any transfer or assignment of the Restaurant Portion. 12 DOCSOC/llI0339vl1/24579-0001 11 B-33