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accol'dance with Sectiot~ 207. The Segura Pat'cels al~d at~~ such Addif~anal Properties so <br /> lrrc~uded p~~r'suatlt to Section 207, together with the Agellc~ Pat'cels 1'eferred to herein as the <br /> c` lt~f" <br /> By this ~greetrlex~t, and Etb <br /> jest to the ter'rrls and cox~ditions herein, the Agency <br /> [le1I`e to tr'ansfer' the 1te to the Developer, The De~elaper desrr'es to construct on the S1t~ <br /> affordable rental llo~~sing that will be a~railable to arld occ€~pied b~ pel`sol~s arld families of ver'~f <br /> law irlcatne atld extrellrel~ low itlcon~e, affordable far'-sale llousillg that will be available to alld <br /> occ~~pied b~ pe~'sorxs and fat~lilies afrrraderate irlcolrle, a~~d ~la~•l~et rate far-sale ho~tsirlg that gill <br /> be available to all b~z~ers, pursual~t at~d sElbject to the ter't~s and cotrditiarls set far'tlr ill this <br /> A~'eet~ret~t at~d firr~lrer' described itl the Scope of]~e~?eloptr~elrt the "Project"~~ <br /> This Arectrlel~t is rrl fitrtlrer'arlce of and supel`sedes, with respect to the Site, the <br /> PED~~EL~P~~VT AR~E~II1~~' <br /> ]~~STIT A~T~I~ P~AN~ at~d P~~~]~~TEL~PET <br /> AREEII~I~NT-AE~Y PALS between the parties hereto alld both dated I~ecerrtber 7, <br /> 2009, <br /> Tile Site will be col~ve~'ed to Developer atld developed i~~ three sepal'ate phases <br /> "Phase ~ "Please ~lld Please put`suatlt to the ter'nls of t111~ Agr`eetr~e~~t. Pl~asc ~ <br /> al~d Phase R-2 shall both colrsist of of <br /> fordable rc~rtal l~aElsillg that is a~~ailable to and occEtpied b~' <br /> persons at~d fatr~ilies of vel"Y le~~~ irlcame acrd extr'ell~el~ low it~calrle. phase ~ stlall colrsist of <br /> foe'-sale lro?xsit~g, a po~`tiorl of~vhich shall be available to a~~d occElpied b~ persarls acrd farnllles of <br /> llrader'ate irreatne, acll phase nlay ~1t11~Ze a samewlrat drfferelrt acrd separate fi~~at~cin trrlctrtl'e <br /> as provided 111 nlar'e detall 111 tell Agreelxle:rt and as rna~ be fttr'tller' itnplelnetrted arrd clarified irr <br /> oz~e al` ~r~oz`e ~n~pletnet~tatlan Areerrlelrts ~defitled i~r Section ~ 0~}, each phase rrla~ close <br /> separately ira wl~licl~ case the terrlls set Earth llereil~ for ~~os~n at~d sEtbseq~tellt de~'eloprl~ellt shall <br /> apply' to each Phase, <br /> The parties acktrowledge and agree that the financing alld other te~`r~~s set far~th in <br /> this Ag~`ce~~ret~t t~la~ require adjustmerrt to ells~~t'e teat the Project ~tncluding each Plrase tllel'eof} . <br /> is developed and operated in a manner' r'easotlably acceptable to the Agency alyd financially <br /> feasible far' the Developer'. Therefore, its tl~e event the Developer' is required to find alter'llate <br /> financing sources for the develop~r~e~~t acrd aper'ation of ally for all} Pl~ase~s~ of the Project, <br /> ~ii~ ox~e or trrole Phases are s~lbject to a Transfel4 prt~'sErant to Sectiarr ~D2 her'eof ~otller4 relate <br /> transfers per~~~itted pursEral~t to ect~all ~a2,2~, alydloti viii} the terlr~s ofthis Agt+eetrletrt as to alre <br /> ar tnar'e Phase{s} of tree Project otherwise requires adjrlstlnerlt, tree pc~l`ties rrray tregatiate, as <br /> rlecessar~~, in good fairer acrd reasoz~ably consider erltel'irrg into orre oz` more additional <br /> Ir~lplenle~~tat~o~~ ~.rectl~cl~ts far each Phase oftlle Pt"oject~ <br /> J~, A pol`tio~l of tlae Site is located aErtside the Project ~~`ea; however, sep~r'ately <br /> Agerlc~~ and its Iegislati~re body ~i.~., the ~~ty arttrcll of the rty~ leave deterlrlil~cd that tl~e <br /> co~~veyance of tree Site specifically, that por'tioll of tl~e Site that is located o~~tside the <br /> Project ~t'ea~ by the ~.gency to the Developer' and the Derre~oper's constr`uctran atld de~'elaprllent <br /> of tale Project pur'suarlt to this Agl'eetrrerlt will b of benefit to tree Agenc~r's ~e~~ed Pro <br /> jeer <br /> pursuant to Section ~~~~4,2~g~~t~ of tree CAL, with respect to the portion of the Site located <br /> wrtlllrl tree Project area, tl~e 1~~~eloper's canstructian alld de~relopt~~ent of tree Pr'o <br /> jeer orr such <br /> <br /> D4CSOCI~~~~~734'131~!)O~i~'0~~1 ~ <br /> <br />