03 - JOINT - Lacy Settlement - Laserfiche WebLink

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Additional Properties designated for For-Sale Units which are added to the Project pursuant to Section 207 hereof. The Affordable For-Sale Units shall be located within the For-Sale Portion of the Project. (b) "For Safe U~:it(s)" means the Housing Unit(s) (inclusive of the Affordable For-Sale Units) that shall be constructed and developed on the For-Sale Portion of the Project pursuant to and consistent with the terms of this Agreement. A total of approximately twenty-four (24) For-Sale Units (plus any For Sale Units to be constructed on the Additional Properties) shall be constructed and developed by the Developer, inclusive of the Affordable For- Sale Units. .....:.::. ..... (c} "Fliase F.S" shall mean the Phase Qf`i>r~truction of the Project which shall include the development of appraatelt~uenty-four (24) For-Sale units Inclusive of the Affordable Fir-;Sale Units =t~t<the Far-Sale Portion of the Site. Specifically, Phase FS~11' be constructed~;ilhin the area identified on the Site Map as Lot B,,;~:,ot~F, and Lot 4. -_-: ,-_ (d) "Phase R 2" shall mean the ~~'l~ase of eq~~ir~uction of tl~`Pxoject, which shall include the development of app;i~kl=thirty-nine (39)~~ntal Units on the Rental Po~toi::p~the Property-'alall include any Additional Properties designated for'Pk%~erR_2:which are'a~c~;ed to the Project pursuant to Section 207 hereof. Spec3ca17~rase R-2 wrl~,~;constracted within the area .~~'0'°' 7G ~{ "'~ 'C;~~~`•+~ >7 GG ~r ;~2 7> <4 >7 « 77 G< 77 identified on the Si>e;, ap ~as-~ ~)~;at2, Lot==: ~;. Lot A, Lot C, Lot D, L4 77 r.;r. ~~,;.. ::iz: :::; ...... -- - (e} '''~ ~*~`Ifentat Porfao~a of the ~.i~~o ~~?' means~tlla~~portian of the Project that ~.~,:: .?"arc~rissts of tI~>Rental Unfs~~The Rental Portion of the Project consists of sevez~;(7) lQ~€~~'s-i.~~ntified i~'t~~he Site Map and shall be constructed in two ;;_ ~ ;separat~~l~ases'(I?';~~e~t-l a%~Z?hase R-2). of Clos%i~g>~- Settlement Agreement. Anew Subsection 204.2(o)~tl~e DDA is herel3~?added`vq~ch shall read as follows: "(o) ;~eft~ement ~fgreement. Neither the Agency nor the ~;i, ~_ City shal~~~;e in default of the Settlement Agreement dated as of April==1?4, 2011 entered into by the City, Agency, ~~~._ :_ r Deyelope~='`and certain other parties, including Friends of L;ac~~ioric Neighborhood, an unincorporated association." 6. Lot Merger. Section 303.2 of the DDA is hereby deleted and replaced in its entirety and with the following: "Lot Merger. On or prior to the dates of conveyance for Lot 1 (Phase R-1), and Lots 2 and 3 (in Phase R-2), respectively, the Agency shall cause a lot merger(s) pursuant to Santa Ana Municipal Code Sections 34-366 through 34-377 ox other Subdivision Map Act compliance so as to combine all of the applicable parcels of the applicable Lots into a single parcel." 2 Exhibit 3 3-20 DOCSO C/ 1481239v3/200272-0001