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ARTICLE 2 <br />INCLUSIONARY HOUSING COVENANTS <br />1. Developer Compliance with the Ordinance <br />The Developer acknowledges that the City has provided the Developer with <br />copies of the Ordinance and the Administrative Procedures Manual. The <br />Developer is familiar with the requirements of all the foregoing documents and <br />shall ensure that the Project complies in all material respects with this <br />Inclusionary Housing Agreement and the requirements set forth in all the <br />foregoing documents. <br />II. In -Lieu Fee <br />The in -lieu fee is calculated based upon the sum total number of habitable <br />square feet within the entire Project, as measured from the exterior walls of the <br />residential units. This calculation does not include exterior hallways, common <br />areas, landscape, open space, or exterior stairways. <br />Based on preliminary calculations (which may be updated at the time of obtaining <br />the first building permit related to the Project) the total habitable square feet <br />within the Project is 1,036.976 square feet. In lieu of providing any Inclusionary <br />Units, based upon the estimated square footage which may be updated while <br />pulling the above - referenced building permit, the Developer shall pay to the City <br />the estimated sum of $9,695,725.60 prior to obtaining the first building permit <br />related to the Project. <br />Inclusionary Housing Agreement - In-Lieu Fee Payment Page 8 <br />City of Santa Ana <br />25A -12 <br />