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landholding. Qualified Designee recognizes that, in view of the following factors, the <br />qualifications and identity of Qualified Designee is of particular concern to the community and <br />City: <br />(a) That at all times the Qualified Designee must be a qualifying designee under <br />the Ordinance; <br />(b) The importance of the development of the Affordable Site for the intended <br />uses contemplated herein and under the Affordable Housing Restrictive Covenant; <br />(c) The fact that a Transfer as defined in Section 5.1 above is for practical <br />purposes a transfer or disposition of the fee interest in the Affordable Site then owned by the <br />Qualified Designee; <br />(d) The fact that the Affordable Site is not to be acquired, developed or used <br />for speculation, but only for development and operation by Qualified Designee in accordance with <br />this Agreement and under the Affordable Housing Restrictive Covenant; <br />(e) The reliance by the City upon the unique qualifications and ability of <br />Qualified Designee to serve as the catalyst for development of the Affordable Site and upon the <br />continuing interest which Qualified Designee will have in the Affordable Site to assure the quality <br />of the use, operation and maintenance deemed critical by the City in the development of the <br />Affordable Site; and <br />(f) The fact that a change in ownership or control of the Developer or the <br />Qualified Designee, or of a substantial part thereof, or any other act or transaction involving or <br />resulting in a significant change in ownership or with respect to the identity of the parties in control <br />of Qualified Designee or the degree thereof is for practical purposes a transfer or disposition of the <br />Affordable Site. <br />Section 5.3 Prohibited Transfers. <br />(a) Developer represents and agrees that Developer has not made or created, <br />and will not make or create or suffer to be made or created, any Transfer, either voluntarily or by <br />operation of law without the prior written approval of the City. <br />(b) Except as expressly permitted in this Agreement, Qualified Designee <br />represents and agrees that Qualified Designee has not made or created, and will not make or create <br />or suffer to be made or created, any Transfer, either voluntarily or by operation of law without the <br />prior written approval of the City. <br />(c) Any Transfer made in contravention of this Section 5.3 shall be void and <br />shall be deemed to be a default under this Agreement whether or not Developer or Qualified <br />Designee knew of or participated in such Transfer. <br />Section 5.4 Permitted Transfers. Notwithstanding the provisions of Section 5.3, the <br />following Transfers shall be permitted and shall be hereby approved by the City Manager: <br />ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT <br />REV: 10-16-25 VR <br />Page 25 of 41 <br />