Agmt10 R.C. Peninsula Park, LLC (2)

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"Project" — means the development ment of 231 single-family residential units, a hotel of up to p g Y p 200 rooms, up to 10,000 square feet of community serving retail space and a preserved marina basin, all on approximately 33.24 acres located within the CFD. "RMA" means the rate and method of apportionment of special taxes pursuant to which the special taxes of the CFD are authorized to be levied as attached to the Notice of Special Tax Lien recorded as Instrument Number 2010 - 108967 in the official records of the County of San Mateo. "State" means the State of California. "Supplement" means a written document amending, supplementing or otherwise modifying this Acquisition Agreement and any exhibit hereto, including any amendments to the list of Facilities in Exhibit A, any amendments to the list of Facilities and their Budgeted Costs and the Discrete Components in Exhibit A and Exhibit B, and /or the addition to Exhibit B of additional Facilities (and Discrete Components) to be financed with the proceeds of the Bonds deposited in the Improvement Fund. ARTICLE II RECITALS Section 2.01. The CFD. The City Council of the City has established the CFD under the Act for the financing of, among other things, all or a portion of the Actual Costs of the Facilities. Section 2.02. The Development. The Developer is developing land located within the CFD in accordance with the terms of the Development Agreement. Section 2.03. The Facilities. The Facilities are within or in the general vicinity of the CFD, and the City and the Developer will benefit from a coordinated plan of design, engineering and construction of the Facilities and the development of the land owned by the Developer that is located within the CFD. The Developer acknowledges that the inclusion of Facilities in Exhibit A hereto in no way, in itself, obligates the City to issue any Bonds to finance the Facilities or implies that the City has in any way engaged the Developer to construct the Facilities. City will not direct that proceeds of the Bonds be expended on City Fees except upon the written request of the Developer. The Facilities which are the subject of acquisition from the Developer and the Facility Fees subject to reimbursement to the Developer under this Acquisition Agreement are only the Facilities and Facility Fees listed in Exhibit A hereto, as such Exhibit may be amended and /or supplemented by any Supplement approved by the City and the Developer, in writing. Section 2.04. The Financing. The Developer and the City wish to finance the acquisition of the Facilities or Discrete Components thereof by the City and the City Fees and the payment therefor by entering into this Acquisition Agreement for the acquisition of the Facilities, payment of the Purchase Price for Discrete Components, and payment or reimbursement of the City Fees as shown in Exhibits A and B hereto (as it may be amended and supplemented) with a -4-