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development, land use and architectural regulations and standards. Drawings, plans and <br />specifications for the Project shall be subject to the approval of the City through the standard <br />development application process for acquiring the real estate and entitlements within the Project. <br />Nothing in this Agreement shall be considered approval of any plans or specifications for the <br />Project or of the Project itself by the City. <br />(e) The City reserves the right to reasonably obtain further information, data <br />and commitments to ascertain the ability and capacity of the Developer to purchase, develop and <br />operate the Property and/or the Project. The Developer acknowledges that it maybe requested to <br />make certain financial disclosures to the City, their staff, legal counsel or other consultants, as part <br />of the financial due diligence investigations of the City and relating to the potential sale of the <br />Properties and development of the Project on the Property by the Developer and that any such <br />disclosures may become public records. The City shall maintain the confidentiality of financial <br />information of the Developer to the extent allowed by law, as determined by the City Attorney. <br />Notwithstanding the foregoing, if the City receives a request for documents related to this <br />Agreement or the Project pursuant to the California Public Records Act (Govt. Code Section 6254 <br />et. s4 or similar statute, and the City determines that the City has responsive documents, the City <br />shall provide Developer notice not less than three (3) days prior to releasing the responsive <br />documents to the requesting party. During this three (3) day period Developer may seek a court <br />order prohibiting the release of the documents. Any litigation or costs associated with protecting <br />documents from disclosure shall be bome solely by Developer. <br />(f) The City shall be deemed to be a Party to any agreement for the acquisition <br />of, lease of or disposition of real or personal property, the provision of financial assistance to the <br />Developer or development of the Project on the Property or elsewhere, until the terms and <br />conditions of a complete future DDA are considered and approved by the City Council, in their <br />respective sole and absolute discretion, following the conclusion of one or more duly noticed <br />public hearings, as required by law. The Developer expressly acknowledges and agrees that the <br />City will not be bound by any statement, promise or representation made by their respective staff <br />or representatives during the course of negotiations of a future DDA and that the City shall only <br />be legally bound upon the approval of a complete DDA by the City Council, in their respective <br />sole and absolute discretion, following one or more duly noticed public hearings, as required by <br />law. <br />10. Nondiscrimination. The Developer shall not discriminate against nor segregate <br />any person, or group of persons on account of race, color, creed, religion, sex, marital status, <br />handicap, national origin or ancestry in undertaking its obligations under this Agreement. <br />11. Default. <br />(a) Failure or delay by any Party to perform any material term or provision of <br />this Agreement shall constitute a default under this Agreement. If the Party who is claimed to be <br />in default by another Party cures, corrects or remedies the alleged default within fifteen (15) <br />calendar days after receipt of written notice specifying such default, such Party shall not be in <br />default under this Agreement. The notice and cure period provided in the immediately preceding <br />sentence shall not, under any circumstances, extend the Negotiation Period. If there are less than <br />fifteen (15) days remaining in the Negotiation Period, the cure period allowed pursuant to this <br />-6- <br />60C_$ EXHIBIT 1 <br />