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Site, (which shall be recorded when the Affordable Site is transferred to the Affordable <br />Developer); and either (2) the City issuing the building permit for Building Three that allows for <br />the commencement of construction of Building Three; or (3) in satisfaction of the requirements <br />set forth in Section 2.8, below, the Developer makes the Impact Fee Deposit or delivers the <br />Letter of Credit (as defined in Section 2.8). <br />(2) The issuance of a certificate of occupancy for Building Two shall be <br />conditioned on the prior or concurrent issuance of the certificate of occupancy for Building <br />Three. <br />(e) The issuance of a certificate of occupancy may be issued for Building Three <br />upon completion of the Affordable Units in accordance with applicable City requirements. <br />Section 2.6 Manajaement Plan for Affordable Units. <br />No later than six (6) months after the commencement of construction of Building Three, <br />the Affordable Developer shall prepare and submit for City approval a management plan for the <br />Affordable Units. The management plan must include, among other items, details on how the <br />Affordable Developer plans to market the Affordable Units to prospective applicants in <br />accordance with fair housing law, including efforts to affirmatively further fair housing as <br />defined in Government Code 8899.50, Affordable Developer's tenant selection criteria and how <br />Affordable Developer plans to certify the eligibility of applicants. The management plan shall <br />also describe the management policies, identify the management team and address how the <br />Affordable Developer plans to manage and maintain the Affordable Development. Management, <br />marketing, and rental of the Affordable Units shall be governed by the Restrictive Covenant <br />Agreement recorded against the Affordable Site. In addition, the management plan will include <br />procedures to affirmatively market the units in a manner that will further fair housing. The <br />management plan will provide for and the Affordable Developer will market in sale of the units <br />in languages other than English as required under the City's Language Access Plan, as such may <br />be amended from time to time. Prior to or concurrently with the recordation of the Restrictive <br />Covenant Agreement, the City shall provide Developer with a copy of the City's Language <br />Access Plan and any updates there to. The Affordable Developer, at a minimum, shall provide <br />marketing in Spanish. <br />Section 2.7 Release of Residential Site from A cement. <br />(a) The covenants and conditions herein contained shall apply to and bind, during <br />their respective periods of fee ownership, Developer and its heirs, executors, administrators, <br />successors, transferees, and assignees having or acquiring any right, title or interest in or to any <br />part of the Residential Site, including Affordable Developer after acquiring interest in the <br />Affordable Site, and shall run with and burden such portions of the Residential Site until <br />terminated in accordance with this Section. Until the Residential Site, or a portion of the <br />Residential Site, is released from the burdens of this Agreement pursuant to this Section, the <br />owners of fee title to the Residential Site shall expressly make the conditions and covenants <br />contained in this Agreement a part of any deed or other instrument conveying any interest in <br />such property. Notwithstanding anything to the contrary in this Agreement, all of the rights and <br />obligations of Affordable Developer shall commence only upon Affordable Developer's <br />9 <br />1199\10\3609857.1 <br />REV: 10-18-23 SK <br />