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~I <br /> <br /> Agreement may be assigned to a single purpose developer entity controlled by Related <br /> and Griffin. <br /> 2. Negotiations. <br /> A. The Agency and the Developer agree for a period of up to two years from the <br /> date of this Agreement (the "Negotiation Period") to negotiate towards final <br /> agreement(s) with respect to the disposition and development of the Agency Parcels. <br /> The parties may enter into one or more agreements which may include multiple phases <br /> or separate developments. <br /> B. In the event the Agency acquires any additional parcels in the area depicted in <br /> Exhibit B, they shall be deemed Agency Parcels under this Agreement. <br /> C. The Agency agrees for the Negotiation Period not to negotiate with any other <br /> person or entity regarding the disposition or development of the Agency Parcels. This <br /> <br /> Agreement may be terminated or extended as set forth in Section 3, below. <br /> 3. Modification/Termination of Negotiation Period. <br /> Either party may terminate this Agreement prior to expiration of the initial <br /> Negotiation Period, with or without cause, upon 60 days written notice to the other party. <br /> Upon such termination, the Agency shall pay the Developer Reimbursement as called <br /> <br /> for in Sections 10 and 11. If, at the end of the initial Negotiation Period, the parties <br /> mutually agree, the Negotiation Period may be extended for additional periods of six <br /> months. <br /> 4. Development Concept and Essential Elements. <br /> The development to be the subject of the agreement(s) to be negotiated <br /> hereunder shall consist of the development of the Agency Parcels. The agreement(s) to <br /> be entered into (the "Project") shall provide, among other things, that: <br /> A. The development shall be a predominantly multi-family residential project <br /> <br /> containing both for-sale and rental units. <br /> B. The housing component shall be consistent with, and meet the affordable <br /> housing goals of the City and Agency. <br /> C. There may some non-residential stand-alone and/or live-work occupancies. <br /> D. There may be provision for open space and/or community-serving facilities. <br /> 2 <br /> 80A-18 <br /> <br />