CIVIC CENTER BARRIO HOUSING CORPORATION 10 - 2007

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8/30/07 Developer to pursue as much additional outside funding as can feasibly be obtained. f) Developer Fee. The Development Agreement will define the amount of the developer fee (if any), and the terms under which the Developer will be entitled to receive a developer fee for successfully completing the Project. g) Occupancy Standards. A Unit may not be occupied by more than the total number of persons equal to the total number of bedrooms in the Unit multiplied by 2, plus 1 (e.g., a two bedroom house would be limited to occupancy by 5 persons and a three bedroom house would be limited to occupancy by 7 persons). h) Affordability Covenants. All of the affordable housing Units shall be restricted, by covenants that run with the land, to occupancy by Lower Income households (80% of the median income level) for a period of 99 years (the "Restricted Period ") from the Effective Date of the Development Agreement. Affordability covenants will be set forth in greater detail in the Development Agreement. i) Anti- discrimination. Developer, during all phases of the development process, for itself and its successors and assigns, agrees that Developer will not discriminate against any person because of race, color, creed, religion, sex, marital status, ancestry, or national origin in connection with activities undertaken pursuant to this Agreement. j) Maintenance of Propert y. The Development Agreement shall require the Developer to be responsible for maintaining all improvements, including landscaping, on the Site in first class condition and repair. City places prime importance on quality maintenance to protect its investment and to ensure that subsidized affordable housing projects within the City of Santa Ana are not allowed to deteriorate due to substandard maintenance. City shall have the right to periodically inspect the Property. k) Property Management. The Development Agreement shall require that the Developer manage or shall cause the Project to be managed in a prudent and business -like manner. Developer may contract with a management company or manager to operate and maintain the Property ( "Property Manager "); provided, however, that the selection and hiring of such a property management company shall be subject to approval by City Manager/Deputy City Manager for Development Services. City acknowledges that as of the date of this Agreement that Developer intends to act as the Property Manager. 1) Capital Replacement Reserve. The Development Agreement shall provide language that requires the Developer to annually set aside approximately 7.20% (or such other amount mutually agreed upon by both parties) of the rental G.!