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Project site has no value as habitat for endangered, rare or threatened species, (d) approval of the proposed Project would not result in any significant effects relating to traffic, noise, air quality, or water quality, and (e) the Project site can be adequately served by all required utilities and public services. F. Upon satisfaction of the conditions precedent set forth in this Agreement and subject to the terms and conditions set forth herein, the City will convey the Property to Developer for development of the Project, and will enter into a license agreement pursuant to which Developer will develop the Creekside Trail Parcel and the eastern most portion of Fee Parcel Al as a publicly-accessible creekside trail in accordance with plans approved by City. G. Concurrently with the conveyance of the Property to Developer, among other documents, Developer will execute an Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants that will require the residential units in the Project to be rented to low- income senior households at Affordable Rents for a term of not less than fifty-five (55) years. H. A material inducement to City to enter into this Agreement is the agreement by Developer to develop the Project within the time periods specified herein and in accordance with the provisions hereof, and the City would be unwilling to enter into this Agreement in the absence of an enforceable commitment by Developer to take such actions and complete such work in accordance with such provisions and within such time periods. NOW, THEREFORE, in consideration of the mutual covenants contained herein and good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows. ARTICLE I DEFINITIONS; EXHIBITS 1 . 1 Definitions. The following terms shall have the meanings set forth in the Sections referenced below whenever used in this Agreement and the Exhibits attached hereto. Additional terms are defined in the Recitals and text of this Agreement. "Affordable Rent" is defined in the Regulatory Agreement. "Applicable Laws" is defined in Section 5. 15. "Approved Partnership" is defined in Section 7.3 . "Area Median Income" is defined in the Regulatory Agreement. "Authorized Representative" means the City Manager of the City of Redwood City, or his or her designee. "City" means the City of Redwood City, a charter city and municipal corporation. ATY/AGR/2017.218/RWC — BRADFORD — DDA REV: 09-18-17 VR Page 3 of 94