RecDoc 2020-059052 Shared parking covenant- Windy Hill PV FIVE CM,LLC

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retrieval so that the Developer is reimbursed for the cost of such after-hours retrieval. Developer may also, in its sole discretion, make parking available to the public during such other times as Developer may so desire. 3. Parking Rates. During the periods set forth in Section 1 above, the parking rates for the Public Parking 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%) of such parking rates. Developer retains the right and full discretion to set parking rates during weekdays between 8 a.m. and 5 p.m. and on all days between 10:00 p.m. and 8:00 a.m. The Jefferson Garage does not have a flat valet rate as of the Effective Date of this Agreement and if the Developer choses to charge a flat valet rate rather than charging based on hourly parking and if the Jefferson Garage does not then have a flat valet rate, it will submit to the City the proposed valet rate for the City's approval. 4. Parking Signage. The Project will have exterior digital signage installed along the property frontage either on the building or in the public right of way. Placement of signage in the public right of way will be subject to the approval of the City in its sole discretion. The signage will be subject to the requirements of all applicable laws, including but not limited to the City's Zoning Ordinance and Municipal Code, and the Developer must obtain all required permits, including but not limited to an encroachment permit and a sign permit, if applicable. The actual sign size, design, messaging and content of the sign is subject to approval by the City not to be unreasonably withheld. The signage shall identify when the public parking is open and also display the number of parking spaces available in real- time. 5. Parking Data. The project will collect real-time parking occupancy data, at minimum for any periods the garage is open to the public. This data shall be provided to the City or its designated vendor through a standard API (Application Program Interface) in real time. The data will also be used to display the parking information on the parking signage. 6. Inconsistencies. To the extent there is any inconsistency in the terms and conditions for the operation of Shared Parking in the Downtown Precise Plan and City Zoning Ordinance, and this Parking Covenant, the condition that provides greater public access shall apply. 7. Term of Covenant. This Parking Covenant shall remain in effect so long as the improvements developed and constructed by Developer on the Property 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 Property 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. 9. Default. Failure by Developer to comply with and observe any of the conditions, terms, or covenants set forth in this Parking Covenant, if such failure remains uncured within thirty (30) days after written notice of such failure from City in the manner provided herein or, with respect to a default that cannot be cured within thirty (30) days, if Developer in default fails to commence such cure within such thirty (30) day period or thereafter fails to diligently and continuously proceed with such cure to completion. 10. Notices. Any notices relating to this Agreement shall be given in writing and shall be deemed sufficiently given and served for all purposes when delivered personally or by generally REV: 06-02-2020 PR ATTY/AGR.2020.086/VVindy Hill PV Five CM, LLC (Page 3 of 10)