RecDoc 2026-002924 Development Agreement 901 El Camino Real

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shall cooperate to prepare two sets of the Project Approvals and copies of the Applicable City Regulations, one set for City and one set for Developer, to which shall be added from time to time with any Subsequent Approvals, so that if it becomes necessary in the future to refer to any of the Project Approvals and/or Applicable City Regulations, there will be a common set available to the Parties. Failure to include any rule, regulation, policy, standard, or specification in the sets of Project Approvals as described in this Agreement shall not affect the applicability of such rule, regulation, policy, standard, or specification. ARTICLE 5. FEES, TAXES, AND ASSESSMENTS Section 5.1 Developer Impact Fees. A. Definition of Impact Fees. For purposes of this Agreement, "Impact Fees" shall mean the monetary fees and impositions, other than taxes and assessments, charged by City and, except as otherwise expressly provided for herein, in effect as of the Effective Date, in connection with a development project for the purpose of defraying all or a portion of the cost of mitigating the impacts of a development project or the development of the public facilities and services related to a development project, including but not limited to the Affordable Housing Impact Fee, Art in Public Places In -Lieu Fee, Downtown Parking In -Lieu Fee, Parks Impact Fee, Sewer and Water Fees, Transportation Impact Fee, Emergency Water Tank Fee, and any other City "fee" as that term is defined by Government Code Section 66000(b). 1. For purposes of this Agreement, "New Impact Fees" means those Impact Fees adopted by City after the Effective Date of this Agreement. New Impact Fees do not include replacements or escalation of Impact Fees. 2. Affordable Housing Impact Fee. The Developer, in accordance with the Affordable Housing Ordinance, has agreed to donate and transfer the Affordable Site to the Affordable Housing Partner as an alternative to paying the Affordable Housing Impact Fee pursuant to Section 2.2 of this Agreement. Accordingly, once the City receives satisfactory documentation that the Affordable Site has been transferred and donated to the Affordable Housing Partner and the Affordability Covenant has been recorded against the Affordable Site or Section 2.2 has been otherwise satisfied in accordance with its terms, the Impact Fee otherwise applicable to the Project and the Affordable Housing Project shall be deemed satisfied, and the Developer shall not be required to pay an Affordable [lousing Impact Fee. 3. Parks Impact Fee. The Developer has agreed to construct and maintain the Teen Center, and allow for the City's exclusive use, as described in Section 2.3. In order for the construction of the Teen Center to be considered for a credit against the Park Impact Fee, Developer shall provide the City with a fully executed Teen Center Lease Agreement as provided in Section 2.2.E. In addition, prior to the submittal of the first Vertical Building Permit for the Project and again at substantial completion of the Teen Center, the Developer shall provide to the City a report or accounting of the actual cost of the Teen Center improvements paid by the Developer. The cost of improvement shall then be included in the Parks Recreation and Community Services Director's request and submittal to the City Council to include or maintain the Teen Center as part of the Parks Project List, and shall thereby be used as the basis for AIIY/AGR/2025.085-901 EL CAMINO REAL DA REV: 08-01-25 VR Page 24 of 48