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~eacll, ~ "Tax credit Pal'tnel'st~ip"~ in ~~r~lict~ the developer {or lilrl~ted liabili~~ C~l~lpall~ il~ <br /> which The Related ompal~ies of aliforrlia, ~L, directly al' ~r~dia`ectl~~ owns ~ controllit~ <br /> irlterest~ is a erler"l p~r~#~er` ar4 ~~nan~ing member". Affordable Ho~r~~n ~~~ess, inc. for a <br /> l~rrl~ted ltabllrt~ camparl~ lrl hlcll Affordable Ho~asirl Access, ~nc~ is a lrlanain I~en7ber'~ is <br /> llcl'c~l~ pre-approved as ~ gex~eral partner or' lrra~~atng member of any sucll Tax redlt <br /> Pal'tnersllips, <br /> ~b~ At~~ grant by a Tax 1'edit Partnersllip of a purcllase optiol~ alldlol• <br /> 1•ight of f <br /> ir~t refirs~l of its r'lllts In and fa ~'l~~se Rr 1 andlo~" Phase R~~ to affi 1 fates of The Related <br /> on~panies alifarnia, ~L andlar Affordable ~o~~sil~g Access, ~~~c, or the tra~xsfer of Phase <br /> R-~ arldlor Phase ~-2 p«rsua~~t tl~e~`etai <br /> ~c~ The collve~rallce or dedication of and par'tion oftl~e Site to the pity <br /> or` otller` apprap~'~ate govert~t~ler7tal agency, or the granting of easements or per'lrlits to facilitate <br /> constructioll oftlle Developez~ Itnpro~ements. <br /> ~d~ All requested assignlz~ent far fit~at~cit~g purposes ~sr~bject to suer <br /> financrt~ be~l~g col~sidered and approved b~~ the Agel~cy p~zrst#ant to section ~ 1 ~ lle~'eitl~, <br /> illcl~~dill tllc grant o~ a deed of trr~st to secul'e the funds llecess~r~ fol' construction alld <br /> perrnarlerlt fl11~lllcill ofthe Developer Ixr~pro~elrlel~ts, <br /> ~e~ subject to the provisions of t~~is A~`eetnet~t, the leasing of Rental <br /> ~t~~ts to grlalified persons and llausellold ill the normal course o bus~~~ess~ <br /> ~ Subject to the provisiar~s of this Areerllent, the sale of F'ol'-Sale <br /> ~r1rt~S~ qualified per`solls and households tl~e i~or{mal co>`~rse of b~rsilless, <br /> All Transfea' of the For-Sale Pal•tiorl of tl~e Project and the <br /> cor~`espondi~~ rights and obligatiar~s of this Al'e~117c11t relatillg tD P~aase F and the For»a~e <br /> Portion to pity dentures, PLC, a Delaal'e llllllted llablllt~ COlYlpan~ for` a li~nited ~ia~iit~ <br /> cornparl~ in ~~~lllcll ltd ~el~tures, or an e~~tity cantl'alled b~ City ~erltul'es, LLB is the <br /> 11]anc~glllg lllelllbel` alld, dlr`ectl~ Q~` l~~dl~"eCtl~, o~~r]s ~ contr'alling lllter'est~ ~"arty ~ell~€~r'es"~, <br /> provided that ~it~ dentures assumes all of the provisions of tl~~s DDA that relate to a~~dlor <br /> c~I~CC~`~~ the FDa'~Sale Port~orl of the Pl'o~eCt pursuant tD an as11117pt1D11 agi'ccI'n~nt for' ass~~a~ent <br /> arld assurnptloll arernerlt} that is sr~brnitted to and appra~~ed by file Agency Executive Director`. <br /> ~Ot~vltllstarldll]g all~tlling t~ c~ntl'ar'~' cot~talned to thrs Agr'eerrrent, ar' <br /> otl~er'~vise, ~~pox~ at~~ Tral~sfer car~templated by ectiorls ~~,~a~ or fig} above, file Agency slla~l <br /> release and for`ever4 discharge the Developer fr'arn illy ftlr'tll~l` lrabrllty or' obligation ~vitll respect <br /> to the obl~ga~larls rrrlder' tllis Areernellt as to tl~e Phase to which such assignments} relate, <br /> ~vhicl~ release shall include, ~~itha~rt lirrlitatiorl, release ullder' Sectlorl ~2 oftlxe California civil <br /> bode, The Agency shall provide srrcl~ release ire ~vl'iting concurrent with srrcll assigrlnlent or <br /> Transfer' hand it relay be set for`tll ill and applicable I~~~plel~~entatiorl Ar'ee~nent associated ~~ith <br /> tl~e Phase to which release 1'elates~. ~r+om and after` illy assigl~mellt or Trallsfel` underi <br /> ectiorls ~~2,~~a~ 0~4 for all prrr'pases of the Please to ~vl~lch such asslgnlller~t or Tra.llsfel` <br /> relates render this Ar`een~ent ~alld file Attac~~l~ex~ts) the tei't~~ `~De~reloper" shall tl~e~'eafter ~neal~ <br /> <br /> ~ aC0~114~0673~R ~ 31~~~2'~2-~~~ ~ <br /> l <br /> <br />