80A - JOINT PH - TRANSIT ZONING CODE, FINAL EIR, SPECIFIC PLAN ETC. - ORIGINAL PACKET PROVIDED TO COUNCIL

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(each, a "Tax Credit Partnership" ) in which the Developer (or a limited liability company in which The Related Companies ies of California, LLC, directly or indirectly, owns a controlling interest is a general partner or managing member. Affordable Housing Access, Inc. or limited liability company its which Affordable Housing Access, Inc. is a managing g i er b r is hereby pre-approved as a general partner or managing member of any such Tax Credit Partnerships. (b) Any grant by a Tax Credit Partnership of a purchase option and/or right of first r fusal of its rights in and to Please R- I a or Ph ase R -2 to affi l fates of The Related Companies of California, LLC and/or Affordable Housing Access, Inc, or the transfer of Phase R- and/or Phase -2 purS Lla 11t thereto. (c) The conveyance or dedication of any portion of the Site to the City or other appropriate governmental agency, or the granting of easements or permits to facilitate construction of the Developer eloper finprove nts. (d) Any requested assignment for financing purposes subject to such financing being considered and approved by the Agency pursuant to Section 316 herein), including the grant of a deed of trust to secure the funds Necessary for construction and permanent financing of the Developer Improvements. (e) Subject to the provisions of this Agreement, the leasing of Rental Units to qu lifted persons and households in the nornial course of business. (f) Subject to the provisions of this Agreement, the sale of or -Sale Units to qualified persons and households in the normal course of business. (g) Any Transfer of the For-Sale Portion of the Project and the corresponding rights and obligations of this Agreement relating to Phase FS and the Foy-Sale Po lion to City Ventures, LLC, a Delaware limited liability company or a limited liability company in which City Ventures, LLC or an entity controlled by City Ventures, LLC is the managing member and, directly or indirectly, owns a controlling interest ("City Vent €gyres "), provided that City Ventures assumes all of the provisions of this DDA that relate to and/or concern the For-Sale Portion of the Project pursuant to an assumption agreement or assignment and assumption agreement) that is submitted to and approved by the Agency Executive Director. Notwithstanding anything to the contrary contained in this Agreement, or otherwise, upon any Transfer contemplated by Sections 602.2(a) or g above, the Agency shall release and forever discharge the Developer from any further liability or obligation with respect to the obligations under this Agreement as to the Phase to which such assignment (s) relate, which release shall include, without limitation, release under Section 1542 of the California Civil Code. The Agency shall provide such release in writing concurrent with such assignment or Transfer (aid it may be set forth in any applicable Implementation Agreement associated with the Phase to which release relates). From and after any assignment or Transfer Linder Sections 2.2 or (g), for all purposes of the Phase to which such assignment ent r Transfer relates tinder this Agreement and the Attachments) the term "'Developer" shall thereafter mean 62 x 11400673 %,131200272 -0001