LYON HOUSING (FIRST STREET) XLVIII, LLC. A DELAWARE LIMITED LIABILITY COMPANY

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5.11 Development, Construction, and Completion of Public Art. Owner shall include within the Project single or grouped permanent work of public art consistent with the Public Art Plan (collectively, "Public Art ") at a cost of not less than One Hundred Twenty Five Thousand Dollars ($125,000) (the "Public Art Fee "), 5.1.8 Additional Offsite Mitigation Measures. The offsite mitigation measures (i,e., which clarify mitigation measures set forth in the Project entitlements) which must be constructed by Owner are as set forth in Exhibit D to this First Amended and Restated Development Agreement. All funds or costs for offsite mitigation measures required pursuant to the approvals set forth in section 2.4 of this First Amended and Restated Development Agreement shall be paid or security provided therefor in conformance with the provisions of the Subdivision Map Act, no later than recordation of the final subdivision map for the Project, or issuance of the first building permit for the Project, whichever comes first. 5.1.9 Irrevocable Offer to Dedicate Easements or Land To Implement Public Realm Improvement Plan. On the face of the final map for the Project, or contemporaneous with offering the final map for filing with the County if it is not placed on the final map, Owner shall execute an irrevocable offer to dedicate to the City such property interest (easement for the breezeway /lane along the north side and fee title along the south side of the Project) as is necessary to effectuate the Metro East Public Realm Improvement Plan adopted contemporaneously with the Project. Owner shall not be required to dedicate additional land pursuant to any amendments to said Plan which may occur following its adoption. Owner shall be entitled to an offset against its obligations under Section 5,7 of this First Amended and Restated Development Agreement for such property. 5.2 Exclusion from Existing Rules, Regulations and Policies. (a) Pursuant to Government Code Section 65866 and Pardee Construction Co. v. City of Camarillo (1984) 37 Cal,3d 465, 208 Cal.Rptr, 228, 690 P.2d 701, City retains the right to enact police power regulations on matters not covered by Section 5.1 of this First Amended and Restated Development Agreement, including without limitation: (i) Municipal laws and regulations which do not interfere with Owner's vested rights to develop and use the Property in accordance with Section 5.1 of this First Amended and 06761915448832v5 13