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6.C. - Page 64 of 111 in the event the documented Public Parking occupancy rate is less than 45% consistently between hours of 7 p.m. and 9 p.m. on Friday and Saturday for a consecutive period of three months, the Project may eliminate the valet spaces from the Public Parking at the Developer's option with the prior written consent of the City. 2. Parking Rates. The parking rates for the Public Parking during Public Parking Hours shall not be less than the parking rates charged by the City at the Jefferson Garage, but no more than one hundred twenty-five percent (125°/x) of such parking rates. The Jefferson Garage does not have a flat valet rate, if the project choses to provide valet, it will submit to the City the proposed valet rate for the City's written approval. Developer retains the right and full discretion to set parking rates during weekdays between 8 a.m. and 6 p.m, and on all days between 12 a.m. and 8 a.m. 3. Parking Signe. The Project will have exterior digital signage installed on the Lathrop Street property frontage. The signage will be capable of displaying at least the following: (a) if the Public Parking is open or closed, and (b) Real-time parking availability in the form of currently available Public Parking. Developer will incorporate additional parking signage as necessary for way finding as part of its overall signage plan to be approved by the City. The actual sign size, design, messaging and content of the signage is subject to approval by the City. 4. Parking Data. Developer, at its cost, will provide the City real-time data on the occupancy in the garage during public parking periods. Alternatively, at the City's direction, Developer will instead provide such real-time data to the City's designated vendor at Developer's cost, provided there is no additional charge by the vendor to Developer that would not otherwise be charged to the City. Developer shall provide real-time data, whether to the City or the City's designated vendor, through a standard application programing interface (api). Data shall be provided either through a standalone parking occupancy system or through a valet vendor using a digital ticket system, at the direction of the City. 5. Overstay Parkin. Developer will provide the City its proposed procedures for the handling of publicly parked vehicles that remain in the Project garage after closure. The Project will install at their cost or implement measures to allow after-hours retrieval of publicly parked vehicles. The method for after-hours vehicle retrieval is subject to prior written approval by the City. Developer, or its designee, should provide the public at least one full day to retrieve their vehicle before considering towing activities, unless the parked vehicle is deemed to be a hazard. 6. Inconsistencies. To the extent that there is any inconsistency in the terms and conditions for the operation of Shared Parking between the City Zoning Ordinance and this Parking Covenant, the condition that provides greater public access shall apply. 7. Term of Covenant. This Parking Covenant shall commence upon issuance of a certificate of occupancy for the Project and remain in effect so long as the Project improvements developed and constructed by Developer on the Site remain in use. 8. Control over Public Parking Area. This Parking Covenant shall not be construed as granting or conveying an easement or license to the City specifically nor as an express or implied offer of dedication of any part of the Site to public use, but solely as a contractual undertaking and covenant by Developer to provide for and permit Public Parking on the terms and conditions hereof. The Developer at all times shall have full control of and management of the parking facilities, including the Public Parking. REV: 02-20-2020 PR ATTYIAGR.2020.0361Premia 1180 Main Owner, LLC (Page 2 of 5) 91