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HomeMy WebLinkAboutStaff Report 254-06City of Palo Alto City Manager’s Report TO:HONORABLE CITY COUNCIL FROM:CITY MANAGER DEPARTMENT: PLANNING AND COMMUNITY ENVIRONMENT DATE:AUGUST 7, 2006 CMR:254:06 SUBJECT:4219 EL CAMINO REAL [05PLN-00235]: CONSIDERATION OF A REQUEST BY DR HORTON HOMEBUILDERS FOR A FINAL MAP TO MERGE TWO EXISTING PARCELS AND SUBDIVIDE THE RESULTING 15.84 ACRE SITE INTO ELEVEN SINGLE-FAMILY LOTS AND ONE MULTIPLE-FAMILY LOT FOR THE DEVELOPMENT OF A PREVIOUSLY APPROVED SINGLE-FAMILY AND MULTIPLE- FAMILY CONDOMINIUM PROJECT LOCATED AT 4219 EL CAMINO REAL. THE FINAL MAP ALSO INCLUDES THE CREATION OF A NEW PUBLIC STREET BETWEEN 4219 AND 4249 EL CAMINO REAL AND A STREET NAME 5~kP FOR THE NEW PUBLIC AND PRIVATE STREETS.AN ENVIRONMENTAL IMPACT REPORT WAS CERTIFIED BY THE CITY COUNCIL IN JUNE 2004. ZONE DISTRICT: cs(n), CS(L). RECOMMENDATION Staff recommends that the City Council approve the proposed Final Map for 4219 E1 Camino Real to merge two parcels (approximately 15.84 acres) and create one multiple family lot containing 170 condominium units and 11 single-family lots and approve the street name map for the new public and private streets. DISCUSSION The Final Map, the Subdivision Agreement, the Tentative Map Record of Land Use Action, and Below Market Rate Agreement have been provided for the Council’s review. The Planning Division, the Public Works Department and the City Attorney have reviewed the Final Map, Subdivision Agreement, Below Market Rate Agreement and the Covenants, Conditions, and Restrictions (CCRs) and have determined that they are consistent with the Tentative Map and Record of Land Use Action. According to the State Subdivision Map Act, the City Council must therefore approve the Final Map. The map satisfies all approval conditions for the Tentative Map, including the preparation of a Subdivision Improvement Agreement (Attachment C) and BMR Agreement (Attachment D). CMR:254:06 Page 1 of 2 The project includes one new public street between the project site and the adjacent Elk’s Lodge at 4249 E1 Camino Real. Half of the new public street is located on the project site. The other half of the street would be located on the Elk’s Lodge site. The Elk’s Lodge portion of the street is not shown on the Final Map. The Elk’s Lodge portion of the street would be dedicated to the City as an easement at the time that the Elk’s Lodge site is redeveloped. A street name map has been incorporated into the Final Map. Street names are not required for approval of the Final Map. However, the applicant will comply with the City of Palo Alto’s policies and procedures and request that the Palo Alto Historical Association (PAHA) recommend approval of street names within the development. If alternative street names are recommended by PAHA, the street name map would return to the Council for review and approval as a certificate of correction to the Final Map. PREPARED BY: DEPARTMENT HEAD: CITY MANAGER APPROVAL: STEVEN TURNER Senior Planner STEVE EMSLIE Director of Planning and Comanunity Environment EMII~.Y HARRISON Assistant City Manager ATTACHMENTS B. C. D. E. Record of Land Use Action of Tentative Map Approval City Council Meeting Minutes from December 5, 2005 Subdivision Ageement BMR A~eement Final Map (Comacil Members Only) COURTESY COPIES: Bridget Koller, DR Horton Homebuilders, Project Applicant CM_R:254:06 Page 2 of 2 APPROVAL NO. 2005-13 RECORD OF THE COUNCIL OF THE CITY OF PALO ALTO LAND USE ACTION FOR 4219 EL CAMINO REAL TENTATIVE MAP 05PLN-00235 (DR HORTON, APPLICANT) At its meeting on December 5, 2005, the City Council of the City of Palo Alto approved the Tentative Map to merge two parcels (approx. 15.8 acres) and create one multiple-family lot containing 170 multiple-family units and Ii single-family lots, making the following findings, determination and declarations: SECTION I. Background. The City Council of the City of Palo Alto ("City Counci!") finds, determines, and declares as follows: A. Proposed by DR Horton Homebuilders, this project involves merging the two existing parcels into one multiple-family lot and i! single-family lots, the demolition of the existing buildings, and the construction of 170 multiple-family units and ii single-family units. The density of the multiple-family lot would be 12.4 dwe!ling units per acre, under the maximum limitation set by the zone district (per Palo Alto Municipa! Code (PAMC) Chapter 18.24, RM-30 regulations) of 30 dwelling units per acre. Each of the single-family lots would contain one dwelling unit under the maximum limitation set by the zone district (per Pa!o Alto Municipal Code (PAMC) Chapter 18.12, R-I regulations) of one (!) dwelling unit per lot. Of the total units proposed, thirty-four (34) shall be dedicated as Below Market Rate (BMR) units. Thirty- one (31) separate floor plans are .proposed within four (4) types of residential buiidings. Per each multi-family unit, the buildings house two floors constructed above the garage. For each single- family unit, there would be two hab±table floors, some with attached garages and some with detached garages. The applicant has requested design Enhancement Exceptions for height, setbacks, daylight plane, and tandem parking. These exceptions would allow the project to be in better conformance with the E1 Camino Design Guidelines and the Architectural Review Board’s Standards of Review, as described in PAMC 18.76.020(d). The unit sizes, proposed from two to three bedrooms, range from the smallest at 1,424 s.f. to the largest at 2,736 s.f., not including garage space. B. The Tentative Map plan set includes information on the existing parcels and onsite conditions (Sheet 4,5,6,7); the layout of new private streets and walkways, including the various buildings with individual units, and guest parking spaces (Sheets 8,9,10,ii) ; grading plan (Sheet 12,13,14,15); utility plan (Sheet 16,17,18,19) and cross-sections of new streets and walkways (Sheets 20,21,22). These drawings are in compliance with the applicable provisions of the City’s Subdivision Ordinance. These plans contain al! information and notations required to be shown on a Tentative Map (per PAMC Sections 21.12), as wel! as conform to the design requirements concerning the creation-of lots, streets, walkways, and similar features (P~MC 21.20). The plan set also conforms to the approved ARB site plan. Because the request is to create more than four condominium units, this request carrot be processed administratively through the Director and requires review by the Commission and City Council approval (PAMC 21.08.010). C. The Tentative map indicates the location and extent of proposed dedications associated with the development of the project. Redevelopment of the site would include the construction of a new public road along the interior side property line shared with 4249 E1 Camino Real (Elks Lodge). The road includes a new vehicular and pedestrian intersection at E1 Camino Real. This intersection would not be a signalized intersection and would allow left and right turns from the development to the state highway. This road would serve as the primary vehicular entry and exit from the redeveioped Hyatt property and the redeveloped Elk’s Lodge property. The public portion of the road would terminate 720 feet from E1 Camino Rea!, where it turns to the northwest to become the private loop through the Project. Each east/west travel lane is approximately 12-feet wide with large landscaped islands to accommodate the existing mature trees along the proper~y line. Vertica! curbs, planter strips and sidewalks line the entire length of the road. The DR Horton and Elk’s Lodge property owners will dedicate the road to the City. D. These dedications would be reviewed and recorded during the Final map process. The Final map would describe the terms and conditions of the dedications, including how the dedications may be used and maintained and the identification of the parties responsible for payment of costs, fees and maintenance issues. E. ARB approval, granted by the Director on August 30, 2005, addressed the project’s compliance with zoning and architectural regulations. The Tentative Map application has been reviewed by staff and City departments for compliance with zoning, subdivision, and other codes and ordinances and received Planning and Transportation Commission (Commission) review on September 28, 2005. The Commission recommended approva! on a 6-0-0-1 vote (Commissioner Bia!son absent). SECTION 2. Environmental Review. A Final Environmental Impact Report (FEIR) and Mitigation Monitoring and Reporting Program (MMRP) was prepared for a revised redevelopment project, including a 100% multi-family residential use of i85 units and approximately 400,000 square feet of floor area. This revised project was certified by the City Council in June 2004. The City Council found that the FEIR adequately assessed the environmental impacts of the revised project, in that the multi-family project was essentially a smaller hybrid of the initially proposed project and four of the alternatives described and assessed in the project FEIR. Any use on the site other than the residentia! use would be allowed only after considering the CEQA environmenta! affects of the use though a supplemental EIR. The proposed residential project, as conditioned, is consistent with the certified EIR. SECTION 3.Tentative Map Findings. A legislative body of a city shall deny approval of a Tentative Map, if it makes any of the following findings (California Government Code Section 66474): !. That the proposed map is not consistent with applicable general and specific plans as specified in Section 65451: The site does not lie within a specific plan area and is consistent with the Comprehensive Plan. 2. That the design or improvement of the proposed subdivision is not consistent with applicable general and specific plans : The map is consistent with major Comprehensive Plan policies related to the change in land use, Policy L-I: Continue current City policy limiting future urban development to currently developed lands within the urban service area. The existing parcels are located within the urban growth boundary and the lot merger is consistent with this policy by continuing the reuse of land within this area and Policy L-7: Evaluate changes in land use in the context of regiona! needs, overall city welfare and objectives, as well as the desired of the surrounding neighborhoods. The map is consistent with the Housing Element policies (Goal H-I, Policies H-2 and H-4, Goal H-2, Policy H-9, and Goal H-3, below market rate units. 3. That the site is not physically suitable for the type of development : The merger of the parcels does not affect site density, and the Tentative Map, as conditioned, is suitable for the previously approved development of the Project. 4. That the site is not physically suitable for the proposed density of development: The purpose for the Tentative Map is to merge the two existing parcels and creation one multiple-family !or containing 170 multiple-family units and II single-family lots. In doing so, the site would remain within the permissible density allowed by the current CS zone district, which dictates compliance with RM-30 site development regulations: A maximum site density of 4?4 total units or 30 dwelling units per acre. As proposed, this map would enact 181 dwelling units, an amount under the maximum permissible. 5. That the design of the subdivision or the proposed improvements are likely to cause substantial environmental damage or substantially and avoidably injure fish or wildlife or their habi tat : The merger of parcels and creation of condominium units will not cause environmental damage or injure fish, wildlife, or their habitat, as no habitat for endangered, rare, threatened, or other sensitive species is present on site. 6. That the design of the subdi vi si on or type of improvements is likely to cause serious public health problems: The Tentative Map will not cause serious public health problems, as the environmental concerns have been reviewed in the Environmental Impact Report that was certified for the project, and mitigation measures and conditions of approval have been approved to reduce impacts to a less than significant level. 7. That the design of the subdivision or the type of improvements will conflict with easements, acquired by the public at large, for access through or use of, property within the proposed subdivision. In this connection, the governing~body may approve a map if it finds that alternate easements, for access or for use, will be provided, and that these will be substantially equivalent to ones previously acquired by the public. This subsection shall apply only to easements of record or to easements established by judgment of a court of competent jurisdiction and no authority is hereby granted to a legislative body to determine that the public at large has acquired easements for access through or use of property within the proposed subdivision. The design the parcel merger will not conflict with easements on or off the site, as all easements will be maintained and any adjustments or .new easements shall only be allowed or established by the conditions of approval. SECTION 4.Tentative Map Approval Granted. Tentative Map approval is granted by the City Council under Palo Alto Municipal Code ("PAMC") Sections 21.13 and 21.20 and the California Government Code Section 66474, subject to the conditions of approval in Section 6 of this Record. SECTION 5.Final Map Approval. The Final Map submitted for review and approval by the City Counci! of the City of Palo Alto shall be in substantia! conformance with the Tentative Map prepared by BKF Engineers, Surveyors, and Planners titled "Tentative Map: Hyatt Rickey’s Redevelopment", consisting of twenty-two~ (22) pages, dated September 22, 2005, except as modified to incorporate the conditions of approval in Section 6. A copy of this Tentative Map is on file in the. Department of Planning and Community Environment, Current Planning Division. Within two years of the approval date of the Tentative Map, the subdivider shall cause the subdivision or any part thereof to be surveyed, and a Final Map, as specified in Chapter 21.08, to be prepared in conformance with the Tentative Map as conditiona!ly approved, and in compliance with the provisions of the Subdivision Map Act and PAMC Section 21.16 and submitted to the City Engineer (PAMC Section 21.16.0!0[a]). SECTION 6.Conditions of Approval. Department of Planning and Community Environment Planning Division I. A Final Map, in conformance with the approved Tentative Map, all requirements of the Subdivision Ordinance (PAMC Section 21.16), and to the satisfaction of the City Engineer, shall be filed with the Planning Division and the Public Works Engineering Division within two years of the Tentative Map approva! date (PAMC . 21.13. 020 [c]) . 2. A preliminary copy of restrictive covenants (CC&Rs) shall be submitted for review at the time of Final Map submittal. 3. The applicant shall adhere to the requirements of ~the Below Market Rate (BMR) Letter Agreement, dated November 29, 2005. In addition, a formal BMR Agreement, including the identification of the locations of the BMR units and provisions for their sale, shall be prepared in a form satisfactory to the City Attorney, executed by DR Horton Homebuilders and the City, and recorded against the property prior to or concurrent with the recording of the Subdivision Improvement Agreement. 4. The applicant shal! enter into an offsite improvement agreement with the City regarding construction of certain improvements in the E1 Camino Rea! public right-of-way that the City reasonably determines are necessary to mitigate future traffic impacts as described in the traffic report dated September 29, 2005, prepared by Dalene J. Whit!ock, P.E. Such off site improvements comprise (!) the construction of a new full-access median where the applicant’s property intersects with the Elk’s Lodge property (i.e., the future location of the "Public Roadway" serving both properties) and (2) modification of the existing median at the northerly access point so as to limit vehicular left turns in to and out of the project site. Such off-site improvements do not include any frontage improvements on E1 Camino Real or otherwise. The agreement would include a cost sharing formula between the applicant and the owner of the Elk’s Lodge property to cover the combined cost of both the off site improvements set forth above and the cost of grading, constructing and otherwise improving the Public Roadway. The formula would be calculated on a fair share basis, based on the number of trips generated by the Project and the number of trips expected to be generated by redevelopment of the entirety of the Elk’s Lodge site. Prior to Submittal of Final Map Planning Division 5. The Final Map shall be crosschecked for compliance with the ARB and the Tentative Map approved plans and conditions. Department of Utilities 6. In consultation with the Departments of Utilities and Planning and Community Environment, Public Utility Easements for installation and maintenance of water meters, gas lines, gas meters, and pad-mounted transformers with associated substructures sha!l be designated on the Fina! Map. Department of Public Works Engineering Division 7. Other easements and/or modifications may be necessary and shall be reflected on the Fina! Map, as designated by the Public Works Department. 8. The applicant shall arrange a meeting with Public Works Engineering, Utilities Engineering, Planning, Fire, and Transportation Departments after approval of the Tentative Map and prior to submitting the improvement plans. This meeting shal! determine the scope of all work required and related to offsite improvements. The improvement plans must be completed and approved by the City prior to submittal of the Final Map. Prior to Approval of Final Map 9. Prior to Final Map approval, the applicant shall enter into a Subdivision Improvement Agreement. This agreement is required to secure compliance with the conditions of ~RB and Tentative Map approvals and the security of on and offsite improvements. Improvement plans shall be submitted in relation to this agreement. No grading or building permits shall be issued until the Final Map is recorded with the County of Santa Clara, Office of the County Clerk-Recorder. Designation on Improvement Plans !0. All sidewalks, curbs, and gutters bordering the site shall be removed and replaced in compliance with Public Works standards. Additional public street improvements shall be made, as determined by Public Works Engineering. I!. Any unused driveways shall be removed and replaced with curb and gutter. 12. Clear visibility at street corners shall be maintained for an adequate distance, at a minimum height of 2.5 feet above grade, per City standards. Prior to Recordation of Final Map 13. The subdivider shall post a bond prior to the recording of the Final Map to guarantee the completion of the on and offsite condition(s) of approva!. The amount of the bond shall be determined by the Planning, Utilities, and Public Works Departments. SECTION 7.Term of Approval. Tentative Map. All conditions of approval of the Tentative Map shall be fulfilled prior to approval of a Final Map (PAMC Section 21.16.010[c]) . Unless a Final Map is filed, and al! conditions of approval are fulfilled within a two-year period from the date of Vesting Tentative Map approval, or such extension as may be granted, the Tentative Map shal! expire and all proceedings shall terminate. 7 Thereafter, no Final Map shall be filed without first processing a Tentative Map (PAMC Section 21.16.010 [d]) . PASSED: 9-0 AYES:Beecham, K!einberg, Cordell, Morton, Mossar, Drekmeier NOES: None Klein, Kishimoto, Barton, ABSENT: None ABSTENTIONS: None : City Clerk APPROVED AS TO FORM: SeniorD~puty City Attorney P~S AND DRAWINGS REFERENCED: /~irec, ’ nd Community Environment Those plans prepared by BKF Engineers, Surveyors, and Planners titled "Tentative Map: Hyatt Rickey’s Redevelopment", consisting of 8 pages, dated September 22, 2005. ",=..~:~Oi;£L~ ~’OL;,JMEi’,,’ i ,5 CERTIFIED TO BE: COPY O~ THE ORIGINAL ON FILE. ;-.7,.- .-, ~;-,.certify (or dec!are) under penalty " ’ " -ofper.;ury~hatthefore-oin-istFe6~,,,--., .~.-, t.8rid correct." "~ ~’ ~: ~’°~°si~ ~ ~"-,r-,~.e ......... Special Meeting December 5, 2005 1.PUBLIC EMPLOYEE PERFORMANCE EVALUATION ................................484 1A.CONFERENCE WITH LABOR NEGOTIATOR .........................................484 2.Emergency Preparedness ...............................................................484 3.Proclamation for Hewlett Packard Garage Commemoration Day ...........485 ORAL COMMUNICATIONS ........................................................................485 APPROVAL OF MINUTES ..........................................................................486 m Ordinance 4886 entitled "Ordinance of the Council of the City of Palo Alto Adding Section 22.08.331 of Chapter 22.08 [Park Dedications] of Title 2 of the Palo Alto Municipal Code to Dedicate a 13.27 Acre Parcel of Land [Parcel 3] Formerly Known as the Arastradero Gateway Preserve" (/st Reading 11/14/05, Passed 9-0) ...................................487 Finance Committee Recommendation to Approve the Auditor’s Office Quarterly Report as of September 30, 2005 ......................................488 Approval of Contract Amendment for $60,000, with a Total Contract Amount Not to Exceed $165,000 with Mike Miller for Consulting Services Related to the Utilities Re-Structuring Plan ...........................488 Approval of a Purchase Order with Ditch Witch Sales Bay Area, Inc. in the Amount of $299,238 for the Purchase of Two Directional Boring Machines ......................................................................................488 9A.Approval of a Purchase Order with Peterson Tractor Company in the Amount of $940,755 for the Purchase of a Waste-Handling (Landfill) Compactor and Waste-Handling Crawler-Dozer .................................488 455 Santa Rita Avenue [05APL-00002]: Appeal by Nancy and Richard Alexander and Worth and Andy Ludwick of the Director of Planning and 12/05/05 99-481 PUBLIC HEARINGS 10.Public Hearing: Consideration of a Request by DR Horton Homebuilders on Behalf of Hyatt Equities, Inc. for a Tentative Map to Merge Two Existing Parcels and Subdivide the Resulting 15.84Acre Site into Eleven Single-Family Lots and One Multiple- Family Lot for the Development of a Previously Approved Single- Family and Multiple-Family Condominium Project Located at 4219 El Camino Real [05PLN-00235]. The Tentative Map also includes the creation of a New Public Street Between 4219 and 4249 El Camino Real. This Road Would not Extend to Wilkie Way. Environmental Assessment: An Environmental Impact Report was certified by the City Council in June 2004. Zone District: CS(H), CS(L). Planning and Community Environment Director Steve Emslie said the tentative map was limited in its review. The site and design was approved by the Architectural Review Board (ARB). The item was appealed to the Council and disposed of by the Council. The item was a technical followup of the tentative sub-division map; the first of a two-step process in the State of California to divide land. Staff recommended the finds be present and the tentative map be consistent with the ARB’s approval of the site and design. Reference was made to a memo distributed at the meeting regarding a technical amendment to the motion that provided clarity concerning the cost sharing for the shared driveway between the property owners. Mayor Burch said the matter before the Council was to approve the Tentative Map. Mr. Emslie said that was correct. MOTION: Council Member Morton moved, seconded by Kishimoto, to approve the staff and Planning and Transportation Commission’s recommendation regarding the proposed Tentative Map to merge two parcels and subdivide the resulting 15.84 acre site into eleven single- family lots and one multiple-family lot for the development of a previously approved single-family and multiple-family condominium project, based upon the findings and conditions contained within the Record of Land Use Action, which includes the cost sharing for the shared driveway between the property owners. Public Hearing opened at 8:53 p.m, Carlin Otto, 231 Whitclem Court, represented the Charleston Meadows Neighborhood Association and requested the tentative map be approved for the redevelopment of the old Hyatt Ricky’s property. There were three main features the association had negotiated: 1) no pedestrian vehicular access between the high density area of the development and Wilkie Way; 2) single-family residences on standard size lots along Wilkie Way; and 3) preservation of mature trees on Wilkie Way and Charleston Road. Eric Stietzel, 239 Whitclem Court, echoed Ms. Carlin’s comments. Herb Borock, P.O. Box 632, said the zoning and comprehensive Land Use Map should be changed to reflect the residential development. He suggested putting in multiple-family and single-family Land Use Map designations and putting in RM-30 and R-1 zoning districts and retain the landscape combining district. Commercial designation would permit hotels underneath residential project. Public Hearing closed at 8:57 p.m. Council Member Kishimoto asked whether there was a no-pedestrian access from the multi-family housing area to Wilkie Way and bicycle access to the Wilkie Way bike bridge. IVlr. Emslie said the only access was for emergency vehicles from the multi-family project to Wilkie Way. Council Member Kishimoto asked where the emergency vehicle access was located. Mr. Emslie said it was a shared driveway between two homes gaining access to Wilkie Way. Project Manager Mary Grace Houlihan with DR Horton said there was a pedestrian and bicycle pathway through the project with a connection from the multi-family area at the corner of Wilkie Way and West Charleston Road. PlOT:]:OI~i PASSEl:) 9-0. 11.Public Hearinq: Consideration of an Application by the City of Palo Alto Public Works Department for the Site and Design Review and Design Enhancement Exception for a Palo Alto Utilities/Department of Energy (DOE) Photovoltaic Demonstration Project Consisting of 10 Solar Trackers and Two Photovoltaic Carports to be Located Next to the City’s Municipal Service Center at 3201 East Bayshore Road (05PLN-00255). Zone District: PF(D). Environmental Assessment: DOE Lead Agency for NEPA Exclusion; CEQA Categorical Exemption Section 15303. Planning Manager John Lusardi presented the staff report (CMR: a,38:05) and noted two changes to Attachment A: 1) Page 1, paragraph E, to reflect the Planning and Transportation Commission’s (P&TC) recommendation to approve the carport panels and deny the trackers; and 2) To delete the Architectural Review Board (ARB) review in Paragraph F because ARB did not have a formal review of the project. Council Member Mossar said she was aware of the ARB not having a formal review but asked whether ARB reviewed the project and made comments. Mr. Lusardi said the ARB reviewed the project and contents of a Study Session and made recommendations before the P&TC review. A formal review would need to happen after the P&TC’s review and recommendations. Council Member IVlossar asked whether the Council was entitled to a summary of the Study Session. Mr. Lusardi said .ludith Wasserman from ARB was present and could provide the summary information. Assistant Public Works Director Mike Sartor gave an overview of the project. He said staff had been working with Department of Energy (DOE) since September 2003 to implement the Photovoltaic (PV) Solar Project. The City received a $:[.a, million dollars DOE grant and was matched by another $1.4 million from the Cities Utilities Department for a total of a $2.8 million dollar project. The selected photovoltaic installation would provide a variety of PV technology in locations and taking advantage of optimum sun exposure. The City’s Municipal Service Center (IvlSC) was selected as one of the project sites. PV panels would be installed at the Cubberley Community Center and at the Bayland’s Interpretive Center with education displays for public interest. PV panels would be installed at the IvlSC employee parking area to demonstrate PV use along with shade and energy generation. PV trackers would be installed in front of the IvlSC to demonstrate a more effective form of photovoltaic to track the sun for maximum energy generation. Based on the P&TC’s concerns about the tracker proposal, an alternate tracker installation was proposed to install five panels instead of the recommended ten. ]:t addressed most of the Baylands’ concerns while employing the innovative PV technology presence along the freeway to enhance the public’s awareness of the project. David Arkin, Arkin Tilt Architects, gave an overview and presentation of the proposed PV trackers for the MSC site. He said the MSC site presented a visible location in meeting the goal of increasing PV awareness. The project included two other sites. The Baylands Center would produce about 25,000 kWh/year and Cubberley Community Center would generate 48,000 kWh/year, enough for more than six homes and the rooftop panels would power at least 21 homes. There were two proposals for the MSC, which included a carport that doubled as a support structure and would generate 153 kWh/year, enough to power over 20 homes and the five tracking arrays, initially 10 in the first proposal. Depending on the selected design, it could power between 2.5 to 8 different homes. The trackers were approximately the size of a call box or speed limit sign and smaller than a tree. The carport structures would provide shade and would hold tracking arrays. Sixteen panels would be placed on the site. Each panel size was initially 15 square feet in size and reduced to 10 feet by ::[5 feet. Council Member Mossar questioned the size of the trackers since they did not look similar to a traffic sign in the graphics. Mr. Arkin said from the perspective of a car on the freeway, visually they would be similar to a traffic sign. Commissioner Daniel Gather said the project generated a tremendous amount of discussion with the P&TC. ]:t covered the project’s potential impact on the MSC site and future uses including the proposed auto mall, whether alternative locations for the trackers had been significantly researched, the impact on wildlife, how trackers would be maintained and used including in power outages, size and useful life of the panels, signage components being viewed along the two highways, appropriate placement of the panels in relation to Baylands and the MSC. The P&TC supported having the PV system in Palo Alto but did not recommend the project for the following primary reasons: 1) The trackers did not support the Baylands design principles and the key issue was that the vertical elements of the trackers were not consistent with low and horizontal elements in the Baylands; and 2) The P&TC was not convinced that more appropriate locations had been fully explored. The Commission did recommend the PV arrays over the carports. Council Member Morton asked whether other locations had been considered. Mr. Garber said the locations discussed were Cubberley, the Police Station, IvlSC and Greet Park. Judith Wasserman, 751 Southampton Drive, said she could not represent the ARB on this matter because they did not vote. She read an excerpt from a previous board member, Drew IVlaran, stating he was in support of the MSC trackers and the project was a non-intrusive addition along an unattractive stretch of freeway. The location promoted renewable energy with an innovative display to define the City’s position on solar power and it deserved support of the Council. She agreed with Mr. IVlaran’s comments in principle but was in favor of the smaller size tracking arrays to help lessen the impact of unsightly panels. David Coale, 766 ]osina Avenue, was in favor of installing the 10 PV trackers in front of the MSC site. It was good advertising and sent a message that Palo Alto was serious about renewable energy and sustainability. Herb Borock, P.O. Box 632, felt the Site and Design Review should not have been placed before the Council and instead forwarded to the ARB for review. The process before the Planning Commission was also incorrect because an attempt was made to make a substitute motion and incorrect advice was given to the Commission. Emily Renzel, 1056 Forest, suggested installing the unsightly trackers behind the buildings at the IvlSC. She said the trackers would generate 56,922 kW/yr, which was only 9 percent or approximately 1.1 percent of solar element of renewable power of the entire PV proposal. The same amount of energy could be generated either at the Cubberley site or by placing additional carports at the MSC. She urged Council to deny installation of the trackers. Mayor Burch said the issue before Council tonight was to approve the trackers and carport design located at the MSC site and not the portions of the project located at Cubberley and the Baylands. Mr. Lusardi said that was correct. Council Member Kishimoto asked whether installation on school property was permissible if it were to be used jointly with the City. Mr. Sartor said the Department of Energy (DOE) specifically slated the grant was to be used at City of Palo Alto facilities but did not include school sites. Council Member Kishimoto asked what the requirements were for the visibility. Mr. Sartor said the grant encouraged educational opportunities. MOTION: Council Member Kishimoto moved, seconded by Freeman, to approve the Planning and Transportation Commission’s recommendation to (:[) deny the site and design review and design enhancement exception for 10 photovoltaic (pv) tracker arrays located at the City’s Municipal Service Center (MSC), as part of the City of Pa!o Alto Utilities Photovoltaic Demonstration project, and (2) approve the site and design review for the two photovoltaic carports at the MSC, based upon the findings and conditions in the Record of Land Use Action. Council Member Kishimoto agreed with Ms. Renzel’s comment regarding the unsightliness of the trackers at the MSC and suggested finding creative ways to achieve a more attractive design. Council Member Freeman asked whether all the findings were made. Mr. Lusardi said the P&TC found one was not compatible with the guidelines and denied the MSC site. Staff felt the Record of Land Use Actions reflected findings appropriate for the Council’s approval. Council Member Freeman asked whether the DOE excluded partnerships where jurisdictions overlapped. Specifically, could the City partner with a school district that was paying the City for its utilities. Mr. Sartor did not feel the grant was that specific. Council Member Freeman said she was not satisfied a partnership with the school had been thoroughly vetted through the DOE and asked whether it had been discussed with the City/School Liaison Committee. Mr. Sartor said one of the concerns regarding partnership was the maintenance aspects of the grant program. The City would be responsible for maintaining the trackers for 30 years. A maintenance agreement with the School District could be problematic. Council Member Freeman felt further investigation in a joint partnership with the School District could be beneficial. City Manager Benest said the grant did not exclude partnerships but specified the PV system had to be on City’s facilities. He was conforming to grant guidelines but did not oppose investigating the possibility of partnerships in the future. Council Member Morton asked how much of the grant would be lost if trackers were denied. Mr. Sartor said there would be no loss in the grant. Additional panels would be installed at either the Cubberley site or on the carports. Council Member Morton said the public relations effect would be lost if panels were placed elsewhere. Mr. Sartor said application of another technology or variety of PV uses would be lost. All other systems were static systems at a fixed angle to the sun. The trackers would generate 35 percent more energy since they tracked the sun to maximize the PV output. Council Member Morton said the main loss was the demonstration effect of the project. Mr. Sartor said that was correct. Council Member Morton asked what would happen to the PV system should the MSC site become an auto dealership. Mr. Sartor said the carport installation and trackers could be relocated but it was unknown if the auto dealership would want to keep the PV system. Council Member Morton said he supported the main motion but wanted to look into funding the trackers. SUBSTITUTE MOTION: Council Member Mossar moved, seconded by Morton, to send the proposals for the tracker arrays located at the City’s Municipal Service Center (MSC), as part of the City of Palo Alto Utilities Photovoltaic Demonstration project, to the AEB for review and recommendations to the Council, and to approve the site and design review for the two photovoltaic carports at the IvlSC, based upon the findings and conditions in the Record of Land Use Action (Attachment A). Vice Mayor Kleinberg supported the substitute motion because it was important in terms of sustainability and promoting clean energy sources. She was interested in seeing the outcome of the AEB’s review on how trackers would match the Baylands Master Plan. She was not in favor of forwarding the item to the City/School Liaison Committee and was concerned about trackers on school property interfering with the playgrounds. She suggested the rooftop applications on school properties. Council Member Cordell said the pictures of the panels looked interesting and she did not find them to be unsightly. She was interested in seeing the AEB’s formal review. Visibility of the trackers sent a message Palo Alto was a community concerned about solar energy. She supported the substitute motion. Council Member Beecham echoed Council Member Cordell’s comments and looked forward to having the AEB find a good solution. He supported the substitute motion. Mayor Butch supported the substitute motion and suggested the possibility of placing the trackers at locations where they could be observed in motion. He suggested three panels at the MSC site and three at a park or near the Duck Pond. Council Member Kishimoto said the amount of money being invested for the system would be the same amount of electricity being produced without having to intrude in the Baylands. There was no trade off in energy and she felt it was not the place to make an aesthetic change. She was in favor of solar energy and open to hearing creative solutions from the AEB or the Public Art Commission (PAC). She did not support the substitute motion. Council Member Freeman said she was not against alternative energy sources and echoed Council Member Kishimoto’s comments. She clarified use of trackers at schools was not the issue but the use of photovoltaic on rooftops of the schools. She did not support the substitute motion. Council Mossar clarified her motion was not to look at alternative sites and for the ARB to evaluate the proposal placed before the Council. Council Member Morton had concerns of sending the tracker component to the ARB and jeopardizing the educational opportunity requirement of the grant and not meeting the grant timeline. Mr. Sartor said the educational component would not be affected. A meter would be displayed outside the Baylands ]:nterpretive Center to run backwards to indicate how power was being generated instead of being used. The plan was to proceed with the design and anticipate the installation at Cubberley, Baylands :Interpretive Center and the carports. DOE granted an extension on completing the program through _June 30, 2007, and there would be time to look at trackers. Council Member Beecham said there were comments regarding the high cost of the project. He clarified the project was experimental and the purpose of the DOE grant was for monies dedicated for unusual projects for the general public’s benefit. The electricity would be generated during the peak hours in the summer when energy cost would be at the highest and he wanted the public to know the project cost was not out of line. SUBSTITUTE MOTION PASSED 6-3 Freeman, Kishimoto, Ojakian voting no. This document is recorded for the benefit of the City of Palo Alto and is entitled to be recorded free of charge in accordance with Section 6103 of the Government Code After Recordation, mail to: OFFICE OF THE CITY ATTORNEY 250 Hamilton Avenue Palo Alto, CA 94301 AGREEMENT BETWEEN SUBDIVIDER AND CITY OF PALO ALTO UNDER PROVISIONS OF TITLE 21 OF THE PALO ALTO MUNICIPAL CODE 4219 El Camino Real, Palo Alto, California Assessor Parcel Numbers: 147-47-035 147-47-038 THIS AGREEMENT ("Agreement") is made and executed this day of ,2006, by and between the CITY OF PALO ALTO, a municipal corporation of the State of California, hereinafter referred to as "City" and WESTERN PACIFIC, INC., a Delaware Corporation, hereinafter referred to as "Subdivider"; WITNESSETH: WHEREAS, Subdivider is the owner of that certain tract of land situated in the City of Palo Alto, County of Santa Clara, State of California, generally known and described as 4219 El Camino Real, Palo Alto, California, Santa Clara County Assessors Parcel Numbers 147-47-035 and 147-47-038, (the "Property"); and WHEREAS, Subdivider has presented to City for approval a final subdivision map prepared by BFK Engineers, hereinafter referred to as the "Map" and incorporated herein by this reference; and WHEREAS, on December 5, 2005, City approved Subdivider’s application for a Tentative Subdivision Map to subdivide four (4) existing parcels into twelve (12) lots ("the Project"), subject to certain conditions including those hereinafter described; and WHEREAS, such conditions include the demolition and construction of certain private and public improvements; and WHEREAS, Subdivider has requested approval of the Map prior to construction and completion of the required improvements and the payment to City of a Page 1 of 12 below-market-rate ("BMR") program in-lieu fee to comply with City’s BMR program requirement for subdivisions, as set forth in Program 20 of the Housing Element of City’s Comprehensive Plan the BMR fee; and WHEREAS, City desires to assure that said proposed private and public improvements will be done in a good and workmanlike manner and in accordance with the laws now in force and effect in the City of Palo Alto, California, particularly, but not exclusively, Titles 8, 16, 18, and 21 of the Palo Alto Municipal Code; NOW, THEREFORE, for and in consideration of the approval of the Map and the acceptance of the dedications offered therein, and to insure satisfactory performance by Subdivider of Subdivider’s obligations under the Subdivision Map Act and the Palo Alto Municipal Code, Subdivider and City (collectively, the "Parties") hereto mutually covenant and agree as follows: 1. Performance of Work. Subdivider shall, at its own cost and expense, do and perform, or cause to be done or performed, in a good and workmanlike manner, all of the work and improvements, within and/or without the subdivision, that are shown on the Map, or on plans, profiles and specifications that have been submitted to the City Engineer or that may hereafter be so submitted, as finally approved, or that are required as conditions of approval of the subdivision by the City, or that are required to be done by any provision of law as a condition of said subdivision. Said public and private improvements include, but are not limited to: a) Off-Site Improvements Plans for Arbor Real, prepared by BKF Engineers dated May 15, 2006 and as subsequently revised. b) On-site Improvements Plans for Arbor Real, prepared by BKF Engineers dated May 15, 2006 and as subsequently revised. Notwithstanding the foregoing, City has determined that the off-site sanitary sewer mitigation for the project includes replacement of the existing sanitary sewer main in West Charleston Road between Wilkie Way and Alma Street. City shall do and perform such sanitary sewer main replacement. Said work shall be done at the cost and expense of Subdivider, in the amount of One Hundred Sixteen Thousand Two Hundred Fifty Five Dollars and Sixteen Cents ($116,255.16), of which sum City acknowledges receipt. Said sum shall be credited against any other sewer connection and capacity fees that might otherwise have been charged by City to Subdivider, and Subdivider is not required to pay any additional City sewer fees. 2. Standards. Work to be performed hereunder shall be done to the satisfaction of the City Engineer. All improvements have been shown in detail upon the plans, profiles and specifications that have been prepared by engineers acting for Subdivider. No work on the improvements shall be commenced until said plans, profiles and specifications have been submitted to and approved by the City Engineer, and all improvements shall be constructed in accordance with said plans, profiles and specifications. Subdivider shall do, or cause to be done, all work and furnish all materials Page 2 of 12 necessary, in the City Engineer’s opinion and on his or her order, to complete the improvements in accordance with said plans, profiles and specifications, or with any changes required or ordered by the City Engineer, which in his or her opinion are necessary or required to complete the work. The cost of checking the plans, profiles and specifications, and of all inspections of the work, have been or shall be paid by Subdivider. Improvements and methods of installation shall, at a minimum, meet the standards set forth in the "Standard Specifications of the City of Palo Alto," dated December 1992, ("Standard Specifications") as from time to time amended, which document is incorporated herein by this reference, and provisions of the Palo Alto Municipal Code relating to construction. 3. Soils and Geoloqic Tests. Subdivider shall cause to be made, at Subdivider’s cost and expense, soils and geologic tests by a qualified civil engineer and shall file, or cause to be filed with the City a report or reports satisfactory to the City Engineer indicating gradation, bearing and resistance value of soils within the subdivision and setting forth recommendations for or constraints on the nature of required improvements and for development of the Property. All clearing and earthwork shall be accomplished in accordance with the plans and required recommendations of the soils report under the supervision of the Soils Engineer. Subdivider shall also cause to be made, at Subdivider’s cost and expense, all compaction tests necessary to determine that the utility trenches have been satisfactorily compacted. Subdivider shall provide a soils engineer’s certified letter of compliance, verifying that the earthwork has been completed in accordance with the plans and recommendations of the soils report. 4. Time of Completion. The demolition of the existing structures, as required under Paragraph l(a) hereof, has been completed to the satisfaction of the City Engineer. All other improvements and site grading under this Agreement necessaryfor and directly related to the occupancy of certain designated portions of the Project, as such designated portions are from time mutually defined by the City Engineer and Subdivider, shall be completed prior to the issuance of any occupancy permit for occupancy of such designated portions of the Project. By way of example only, the Wilkie Way improvements shall be completed prior to the issuance of an occupancy permit for the Wilkie Way residences. The time for completion of any improvements other than those specified in the second sentence of this Paragraph 4 may be extended only for good cause upon approval by the City Manager and pursuant to the provisions of the Palo Alto Municipal Code. 5.Time of Essence. Time is of the essence of this Agreement. 6.Payment of Costs. Without limitation, Subdivider shall pay, or cause to be paid, all costs and expenses related to or arising from the performance of any work hereunder, including, but not limited to, payment for any materials, provisions, and other supplies used in, upon, for or about said work, and for work or labor thereon of any kind, and for amounts due under the Unemployment Insurance Act of the State of California, with respect to such work or labor. 7. Acceptance of Work. The City Engineer shall have the right to reject any and all work to be performed under this Agreement if such work does not conform, in his Page 3 of 12 sole judgment, with the plans, profiles and specifications mentioned herein and with the ordinances and standards of City. 8. Warranty of Plans. Notwithstanding the fact that Subdivider’s plans, profiles and specifications, completion of work, and other acts to be performed hereunder are subject to approval by City, it is understood and agreed that any approval by City shall in no way relieve Subdivider of satisfactorily performing said work or its obligations hereunder. Subdivider warrants that the plans, profiles and specifications submitted shall conform at a minimum to the Standard Specifications and the Palo Alto Municipal Code, and that they are adequate to accomplish the work in a good and workmanlike manner, and in accordance with sound construction practices. 9. Repairs and Replacement. Prior to final acceptance of the completed work by the City Engineer, Subdivider shall replace, or have replaced, or repair, or have repaired, all improvements and monuments shown on the Map that have been destroyed or damaged, and Subdivider shall repair, or have repaired, replace, or have replaced, or pay to the owner, the entire cost of replacement or repairs, of any and all property damaged or destroyed, by reason of any work done hereunder, whether such property be owned by the United States or any agency or political subdivision thereof, or by the City or by any public or private corporation, or by any person whomsoever, or by any combination of such owners. Any such repair or replacement shall be to the satisfaction, and subject to the approval, of the City Engineer. Prior to release of the certificate of deposit posted by Subdivider and/or final acceptance of the completed work, Subdivider shall repair, or cause to be repaired, to the satisfaction of the City Engineer, any damage to the improvements constructed pursuant to this Agreement that may occur after installation. 10. Warranty. Without limiting the foregoing, Subdivider expressly warrants and guarantees all work performed hereunder and all materials used or a period of three (3) years after completion and final acceptance thereof by the City Engineer. If within said three (3) year period any structure or part of any structure furnished and/or installed or constructed by Subdivider under this Agreement, or caused to be installed or constructed by Subdivider under this Agreement, or any of the work done under this Agreement, fails to fulfill any of the requirements of this Agreement, or the specifications referred to herein as a result of inadequate workmanship or materials, Subdivider shall, without delay and without any cost to City, repair and replace or reconstruct any defective or otherwise unsatisfactory part or parts of the work or structure. Should Subdivider fail to act promptly or in accordance with this requirement, or should the exigencies of the situation require repairs or replacements to be made before Subdivider can be notified, City may, at its option, make the necessary repairs and replacements or perform the necessary work, and Subdivider shall pay to the City the actual cost of such repairs and replacement. 11. Breach of Aqreement; Performance by City. If Subdivider shall refuse or fail to satisfactorily complete any of the work and improvements provided for herein within the time specified above, or any extension or extensions thereof, or if delay in the construction of any portion of the improvements shall, in the opinion of the City Engineer, Page 4 of 12 endanger property outside the boundaries of said tract, or if Subdivider should be adjudged a bankrupt, or shall make a general assignment for the benefit of Subdivider’s creditors, or if a receiver should be appointed in the event of Subdivider’s insolvency, or if Subdivider, or any of Subdivider’s contractors, subcontractors, agents or employees, should violate any of the provisions of this Agreement, the City Engineer or City Council or its designated representative may serve written notice upon Subdivider for breach of this Agreement, or any portion hereof. Following Subdivider’s receipt of any such notice, City may, without relieving Subdivider of any of its obligations hereunder, take over any or all of the work and prosecute the same to completion, by contract or by any other method City may deem advisable, for the account, and at the expense of Subdivider, and the full cost and expense of said work done by City shall be recoverable by City from Subdivider. 12. Estimate of Improvement Costs; Security. The estimated cost for improvements to be constructed under this agreement is One Million Seven Hundred Fifty Thousand Dollars ($1,750,000). Said estimate includes applicable amounts for the expense of checking plans and for inspection of work hereunder. A full and detailed accounting of said estimate is set forth in Exhibit "A", which is attached hereto and incorporated herein by this reference. To guarantee faithful performance of all of the provisions of this Agreement and compliance with all of the provisions of the Palo Alto Municipal Code, including Titles 8, 16, 18, and 21, and to secure payment to the contractor, his or her subcontractor and to persons renting equipment or furnishing labor or materials to them for the improvements required under this Agreement, this Agreement shall be secured by good and sufficient security, which shall be filed with City prior to certification of the Final Subdivision Map by the City Engineer. Such improvement security shall, at the election of the Subdivider, consist of either: (a) a faithful performance bond or bonds by one or more duly authorized corporate sureties; or (b) a deposit, either with City or a responsible escrow agent or trust company, selected by City, of cash or negotiable bonds of the kind approved for securing deposits of public monies, or (c) an irrevocable instrument of credit from one or more responsible financial institutions regulated by State or Federal government and pledging that the funds are on deposit and guaranteed for payment on demand by City. The form of all documents relating to such security shall be subject to approval by the City Attorney. The corporate surety bond shall conform substantially with the form set forth in Section 66499.1 of the Map Act. The estimated cost of the various features of the work of improvement shall be used, if applicable, as the basis for the reduction of bonds in connection with the final completion of any feature of the work (or any unit thereof). Costs referred to herein are as set forth on the Engineer’s Estimate for the Subdivision, as submitted for approval to, and on file in the office of, the City Engineer. Concurrently upon the execution of this Agreement and upon the posting by Subdivider of the improvement security set forth in this Paragraph 12, City shall accept all streets and easements dedicated on the Final Subdivision Map or deeded by Subdivider in connection therewith. 13. Permits; Compliance with Law. Subdivider shall, at Subdivider’s expense, obtain all necessary permits and licenses for the work and improvements Page 5 of 12 hereunder, give all necessary notices and pay all fees and taxes required by law. Subdivider shall include in the CC&R’s that prior to removing any tree, within the project, a Regulated Tree removal application with fees shall be submitted for a tree removal permit issued by the Department of Planning and Community Environment. In the performance of this Agreement, Subdivider shall comply with all laws, ordinances, regulations and rules of all governmental agencies having jurisdiction therefor, including but not limited to, the provisions of the Labor Code of the State of California. 14. Inspection by City. Subdivider shall at all times maintain proper facilities and provide safe access for inspection by City to all parts of the work. 15. Subdivider Not Aqent of City. Neither Subdivider nor Subdivider’s contractors, subcontractors, agents, officers, or employees are agents or employees of City, and Subdivider’s relationship to City, if any, arising herefrom is strictly that of an independent contractor. 16. Liability. Neither City nor any of its officers, agents, or employees shall be liable to Subdivider, its contractors, subcontractors, officers, agents, or employees, for any error or omission, or any obligation whatsoever, arising out of or in connection with any work to be performed under this Agreement. City, its officers, agents, and employees shall not be liable to the Subdivider or to any person, firm or corporation whatsoever, for any error or omission, or any obligation or liability whatsoever, arising out of or in connection with any work to be performed under this Agreement. City, its officers, agents, and employees shall not be liable to Subdivider orto any person, firm, or corporation whatsoever for any injury or damage that may result to any person or property or any obligation whatsoever from any cause arising in, on, or about the land of Subdivider or from performance or failure to perform any provision of this Agreement. Subdivider hereby releases and waives any claim it may possess or come to possess against City, its officers, agents, and employees. 17. Hold Harmless. Subdivider hereby agrees to and shall protect, indemnify and hold City, its officers, agents, and employees harmless from any and all liabilities, obligations, damages, costs, injuries, or claims thereof, including but not limited to, claims for damage or personal injury, including death, and claims for property damage, arising in any manner from the performance or failure to perform the provisions of this Agreement. Subdivider agrees to, and shall, defend City, its officers, agents, and employees, from any suits or actions at law or in equity for damages, liabilities, or obligations caused by or arising from, or alleged to be caused by or arising from, the performance of this Agreement. 18. Use of Improvements. Subdivider agrees that the use of any and all of the public improvements hereinabove specified for any purpose and by any person shall be at the sole and exclusive risk of Subdivider at all times prior to final acceptance by City. This shall in no way eliminate, discharge or lessen any of Subdivider’s obligations and undertakings contained in this Agreement. The issuance of any occupancy permits by City for dwellings located within the subdivision shall not be construed in any manner to constitute acceptance or approval of any or all of the improvements to be constructed hereunder. Page 6 of 12 19. Insurance. Prior to the commencement of any work, Subdivider shall furnish to City, on City’s standard form certificate of insurance, satisfactory evidence of a policy of liability insurance which shall be maintained at all times during the performance of this Agreement, in form and by a responsible company satisfactory to City, insuring City, its officers, agents, and employees against loss or liability arising out of the condition of the premises or any of the work to be performed under this Agreement, including all costs of defending any claim arising as a result thereof. Both bodily injury and property damage insurance shall be on an occurrence basis, and said policy or policies shall provide that the coverage afforded thereby shall be primary coverage to the full limit of liability stated in the declarations, and that if any of City insureds have other insurance against the loss covered by said policy or policies, the other insurance shall be excess only. Said policy or policies shall provide for minimum limits in the amount of One Million Dollars ($1,000,000) for bodily injury or death, each person, and One Million Dollars ($1,000,000) for bodily injury or death, each occurrence, and One Million Dollars ($1,000,000) for property damage, each occurrence. Each policy shall contain an endorsement that said policy shall not be canceled or coverage reduced except upon thirty (30)days advance written notice thereof to City. Subdivider will be required to obtain a "Permit for Construction in a Public Street" ("Permit") prior to constructing any of the improvements set forth in Paragraph 1 or Exhibit "A" hereof. City will consider a request by Subdivider that the insurance posted for the Permit also be used to satisfy the insurance obligation of this Paragraph 19. 20. Title to Public Improvements. Title to and ownership of all public improvements constructed hereunder shall vest absolutely in City, upon completion and acceptance thereof by City. 21. Final Drawinqs. Upon completion of all improvements, subsequent to acceptance thereof by City, Subdivider shall supply City with one (1) permanent (mylar--3 mil) reproducible set of"as-built" drawings. These drawings shall be certified as being "as- builts" and shall reflect the job as actually constructed, with all changes incorporated therein. The requirements of this Paragraph 21 shall not apply to the private improvements to be performed hereunder, specified as Items 9-12 of Exhibit "A" hereof. However, Subdivider shall comply with all requirements of Titles 16 and 18 of the Palo Alto Municipal Code concerning all public and private improvements required to be performed hereunder. 22. Notice of Completion. Subdivider shall file, or cause to be filed, a Notice of Completion of the improvements herein specified. 23. Final Inspection, Acceptance and Certification. All of the improvements must be completed prior to the final inspection. Notice in writing, requesting final inspection shall be submitted to the City Engineer at least five (5) days prior to the anticipated date. Upon the satisfactory completion of the improvements by Subdivider, the City Engineer shall certify that the work of said improvements has been satisfactorily completed. Such certification shall be made in writing in accordance with standard City procedures. Page 7 of 12 24.Trees in Project, Wilkie Way Properties and Off-Site Riqht-of-Way (Project). a) Subdivider shall engage Mayne Tree Experts, Co. to implement recommendations and conduct a mitigation monitoring tree preservation inspection program, providing quarterly and annual tree monitoring report for the Project trees. The written annual tree monitoring report shall include all quarterly activity address to the Planning Department Landscape Specialist, 250 Hamilton Avenue, Palo Alto, CA 94301. b) For a period of five (5) years following completion of construction, Subdivider shall maintain a security guarantee (faithful performance bond or bonds by one or more duly authorized corporate sureties or other approved form) in an amount equal to $ $208,820.00 to secure the health and/or replacement, as the case may be, of the trees in the Project. Use of the security guarantee shall be determined after reviewing the annual tree monitoring report at the end of the five (5) year period. If all trees survive, the security deposit shall be returned. If replacement trees are required, the project sponsor shall plant trees as specified by the City. In the event replacement trees are required, an appropriate portion of the security guarantee shall be withheld as further security to ensure survival of the replacement trees for a new five (5) year period. 25. Grade Differential. The Project that is the subject of this Agreement shall return to the City Council for further approval if there is a change in the grade differential of one (1) foot or greater in height from neighboring sites. 26. ARB Compliance. The Project shall be constructed in compliance with al! conditions established by the ARB, which conditions are set forth in full in Attachment C to that certain letter dated August 30, 2005 from Steven Turner to Mary Grace Houlihan. 27. Assi.qnment of Contract. Neither this Agreement, nor any part hereof, shall be assignable by Subdivider without the written consent of City. Any attempted assignment without first obtaining such consent shall be void and of no effect. 28. Bindin.q on Successors. The terms, covenants and conditions of this Agreement shall run with the land and shall apply to, and shall bind, the heirs, successors, executors, administrators, assigns, contractors, and subcontractors of the parties. 29. Costs and Attorneys’ Fees. The prevailing party in any action brought to enforce the terms of this Agreement or arising out of this Agreement may recover from the other party its reasonable costs and attorneys’ fees expended in connection with such an action. 30. Notices. All notices hereunder shall be given in writing and mailed, postage prepaid, by certified mail, addressed as follows: To City:Office of the City Clerk 250 Hamilton Avenue Palo Alto, CA 94301 Page 8 of 12 To Subdivider:Western Pacific Housing, Inc. 6658 Owens Drive Pleasanton, CA 94588 With a copy to:Miller, Starr & Regalia 300 Hamilton Avenue, Third Floor Palo Alto, CA 94301 Attn: Robin Kennedy IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in duplicate the day and year first above written. CITY OF PALO ALTO WESTERN PACIFIC HOUSING, INC. By: By: Emily Harrison Ed Galigher Its:Assistant City Manager Its:Vice President APPROVED AS TO FORM: By: Its: Deputy City Attorney APPROVED AS TO CONTENT: By: Its: Glenn Roberts Director of Public Works By: Its: Steve Emslie Director of Planning and Community Environment Page 9 of 12 CERTIFICATE OF ACKNOWLEDGMENT (Civil Code § 1189) STATE OF .) COUNTY OF ) On , before me,., a notary public in and for said County, personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Page 10 of 12 CERTIFICATE OF ACKNOWLEDGMENT (Civil Code § 1189) STATE OF ) COUNTY OF ) On , before me,, a notary public in and for said County, personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), orthe entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Page 11 of 12 CERTIFICATE OF ACKNOWLEDGMENT (Civil Code § 1189) STATE OF ) COUNTY OF .) On , before me,, a notary public in and for said County, personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Page 12 of 12 This document is recorded for the benefit of the City of Palo Alto and is entitled to be recorded free of charge in accordance with Section 6103 of the Government Code. After Recordation, mail to: OFFICE OF THE CITY ATTORNEY 250 Hamilton Avenue Palo Alto, CA 94301 AGREEMENT BETWEEN WESTERN PACIFIC HOUSING, INC., A DELAWARE CORPORATION, DBA D.R. HORTON, INC. AND CITY OF PALO ALTO REQUIRING PROVISION OF BELOW-MARKET-RATE DWELLINGS AND IN-LIEU FEE PAYMENTS AT 4219 El Carnino Real APN 147-47-038 & 147-47-035 Palo Alto, California THIS AGREEMENT ("Agreement") is made and executed this __ day of ., 2006 by and between the CITY OF PALO ALTO, a municipal corporation of the State of California, hereinafter referred to as "City", and WESTERN PACIFIC HOUSING, INC., a Delaware corporation dba D.R. HORTON, INC., hereinafter referred to as "Owner" or "Developer." City and Owner/Developer are hereinafter collectively referred to herein as the "Parties." RECITALS: Owner owns and intends to develop that certain real property in the City of Palo Alto, County of Santa Clara, State of California, generally known and described as 42!9 El Camino Real, Palo Alto, California (the "Property") and more particularly described in Exhibit A (property description) attached to this Agreement and made a part of it by this reference. The fifteen and eighty-four one hundredths (15.84) acre site is zoned Commercial Service (CS) and presently comprises four (4) legal parcels previously occupied by the Hyatt Rickey’s Hotel, which was demolished to build the Project. The Project involves creation of twelve (12)legal parcels and the construction of a total of one hundred eighty-one (181) new homes, including one hundred seventy (170) attached and detached townhouse style condominium, ownership units (on one legal parcel) and eleven (11) single-family homes to be built along the Wilkie Way frontage of the site [on eleven (11) separate legal parcels]. The townhouses will include a mix of two (2), three (3) and four (4) bedroom units in various floor plans ranging in size from about 1,422 to 2,822 square feet of interior living space. The eleven (11 ) single-family homes will range in size from 2,038 to 2,136 square feet and offer two (2) and three (3) bedroom floor plans. The Project is subject to the City’s Below Market Rate (BMR) requirements as contained in Program H-36 of the Comprehensive Plan (Chapter 4 - Housing) providing that a developer of new housing shall either provide below-market-rate ("BMR") dwelling units and/or pay BMR in-lieu fees. NOW, THEREFORE, the Parties mutually covenant and agree as follows: Below-Market-Rate Proqram Obli.qations. Owner agrees to provide, at its sole cost and expense, thirty-four (34) BMR units on the Property and to pay BMR in-lieu fees, as follows: BMR Requirement. The project is subject to a twenty percent (20%) BMR requirement. The Director of the Department of Planning and Community Environment ("Director") and Developer have agreed that a combination of on-site BMR units and in-lieu fees will be provided to the City in satisfaction of the BMR program, as follows: (1)Thirty-four (34) for-sale BMR units will be provided within the one hundred seventy (170) multi-family units under the rules and procedures of the BMR program. The thirty-four (34) BMR units equal twenty percent (20.0%) of the one hundred seventy (170) multi-family units being developed in the Project; and (2)To satisfy the twenty percent (20%) BMR obligation for the eleven (11) single-family homes, the Developer shall pay to the City, upon the close of escrow on the initial sale of each completed home, a BMR program in-lieu fee. Calculation and Payment of In-Lieu Fees: The total in-lieu fee paid to the City for each of the eleven (11) single-family homes shall be equal to ten percent (10%) of the sum of the actual sales price (or fair market value, if greater) of each single-family home, plus the purchase price (if not included in the sales price of the home) of all add-ons, options, fixtures, appliances, landscaping, equipment and furniture that the buyer purchases from the Developer, or its contractors, prior to the close of escrow and transfer of title from the Developer to the initial homebuyer. The in-lieu payment for each home shall be due and payable at close of escrow. The in-lieu fee for any home that is not sold after its completion shall be due and payable at the earlier of its first occupancy or twelve (12) months from the City’s approval of an occupancy permit for the home. The in-lieu fee for a home not sold shall be ten percent(10%) of the home’s fair market value as of the date of City approval of the occupancy permit as e ¯ determined by an appraisal prepared by the City. The Developer shall reimburse the City for its costs in preparing the appraisal. The City Attorney may require an enforceable security agreement or other document, such as a note and deed of trust recorded against the single- family parcels, to secure payment of the total estimated amount of the in-lieu fees. Exhibit E describes in further detail the City’s process for determining and collecting in-lieu fees on for-sale housing units and the documentation typically required from the Developer and its escrow agent. Desi.qnation of BMR Units: Based on the unit mix, square footage, the different floor plans and other features of the multifamily portion of the Project as shown in the final plans, the Parties have agreed that the thirty- four (34) BMR units described in this Agreement that Developer will provide shall constitute full satisfaction of the City’s BMR Program for the one hundred seventy (170) unit multi-family component of the Project. The specific thirty-four (34) BMR units are described in detail in Exhibits B and C to this Agreement. The final construction plans for the building permit(s) shall designate each BMR unit. The Director, prior to issuance of the first building permit, shall approve the final BMR unit designations, locations and floor plans for consistency with this Agreement. BMR Unit Sales Prices: Pricing for the BMR units has been set based on the methodology, assumptions and other factors shown in Exhibit D - BMR Sales Price Calculations. In accordance with Program H-36 of the Housing Element as adopted on December 2, 2002, there are two (2) levels of affordability and pricing. Twenty-five (25) of the thirty-four (34) BMR units shall be priced to be affordable to buyers at the lower range of the moderate- income level [i.e., households with incomes between eighty percent (80%) and one hundred percent (100%) of the median income]. The remaining nine (9) BMR units are priced to be affordable to buyers at the higher range of the moderate-income level [i.e., households with incomes between one hundred percent (100%) and one hundred twenty percent (120%) of the median income]. Possible Increase or Decrease in BMR Sales Prices: The BMR unit prices have been set using the area median income ("AMI") for Santa Clara County of One Hundred Five Thousand Five Hundred Dollars ($105,500.00) for a four (4)-person household in effect as of February 25, 2005. Estimated home mortgage interest rates of six percent (6.00%) as of April 1,2005 for a low down-payment loan were also used to derive affordable BMR unit prices. Because the units will not be completed and available for purchase for several years after the date of the tentative price calculations, a provision for the readjustment of BMR prices to reflect major changes in home mortgage interest rates and/or the AMI is included in this Agreement. The City will recalculate the BMR sales prices just prior to the initiation of the BMR unit sales and marketing process, provided that: Interest rates on loans commonly available to BMR buyers have increased, or decreased, by one-half percent (0.5%) or more; and/or (2)The then-current AMI for Santa Clara County has increased, or decreased, significantly in an amount that would produce price changes that are equivalent to a one-half percent (0.5%) increase or decrease in interest rates. The City will use then prevailing interest rates and/or the then-current AMI for the recalculation of the BMR unit sales prices using the methodology, assumptions and other factors in Exhibit D - BMR Sales Price Calculations. f o Pro.qram Administrator: The Department of Planning and Community Environment administers the BMR program. The City’s current contract pro.qram administrator for the BMR pro.qram is the PAHC Housin.q Services, LLC (PAHC). The City may assign any or all of the administrative duties, including review, approval and monitoring functions, to its program administrator or other designee. The City will notify Developer, in writing, if there is a new contract program administrator. Term of Deed Restrictions. The initial term of the deed restrictions applicable to the BMR units beginning with the first sale to a BMR qualified buyer shall be fifty-nine (59) years. A new term of affordability enforced through deed restrictions commences with each future sale or transfer of each BMR unit. Construction, Finishin.q and Amenities. The BMR units shall be comparable in all aspects to the market-rate housing units including, but not limited to, construction quality, appliances, cabinets, kitchen and bathroom fixtures, appearance, flooring materials, finish work, amenities, storage units, parking spaces, and access to all facilities. Owner may request permission from the Director to use different interior finishes, appliances and fixtures in the BMR units than in the market-rate units. Any such substitute materials and equipment must still be of very good quality and durability. Any such request should be submitted to the City at least sixty (60) days prior to issuance of the Project’s first building permit. The Director must approve substitute materials in writing. Prior to the close of escrow for the sale of each BMR unit, the City shall inspect the BMR unit to determine that it meets the construction and finishing standards stated in this Agreement and, if so, the City Manager shall approve the acceptance of each BMR unit into the program. Sale of BMR Units. Owner expressly grants City a right, following completion of construction of the project and issuance of occupancy permits for the units by City, to purchase the thirty-four (34) BMR units at the prices described herein and, at the appropriate time in each sale’s transaction, the City will assign its right to purchase to a qualified buyer approved by the City. At close of escrow for each BMR unit, Owner shall execute a grant deed, with 4 o the BMR Deed Restrictions attached, to each buyer. A copy of the current BMR Deed Restrictions is attached as Exhibit F. The City may revise the Deed Restrictions before the initial sale of the BMR units, in which case the revised Deed Restrictions as provided by the City shall be recorded with the grant deed. Cooperation in Sale Efforts. Developer acknowledges the receipt of a summary description of the standard policies and procedures that have been used for the administration of new BMR sales by the City and PAHC entitled Sales Procedures for New Below Market Rate (BMR) Ownership Unit.~ (Attachment E to the BMR letter agreement executed by Developer and City on November 29, 2005). This process of buyer qualification, selection and sales process is described in more detail in the BMR Program Procedures Manual. Developer shall cooperate with City, the BMR unit buyers and the City’s program administrator as necessary in the sale of the BMR units. However, due to the large number of BMR units being sold in the Project, together with the experience of Developer’s related entities with marketing, educating moderate income homebuyers, and financing affordable ownership units in projects of this size, City and Developer agree to meet, with PAHC, to discuss and prepare a project-specific BMR sales program for the Project. The project-specific BMR sales program will address topics such as the adequacy of the existing BMR program-wide waiting list and the need for additional marketing, buyer information and education, the addition of Developer’s preferred lender to the BMR lender’s list, the pre-qualification of buyers, and financing opportunities that Developer may be able to offer to the BMR buyers. Project CC&Rs. The declaration of covenants, conditions and restrictions for the condominium project at the Property (the "Declaration") shall provide the same membership, voting and other rights for owners of the BMR units as for owners of all other residential units at the Property. To the maximum extent permitted by the California Department of Real Estate ("DRE"), the Declaration will provide that all regular and special assessments will be allocated among unit owners on the basis of the respective interior living floor area of the units (i.e., interior floor square footage, excluding the square footage of patios, balconies, and garage spaces), as calculated by the project architect; provided, however, that the Declaration may provide for an equal allocation of assessments among market rate units, or any other allocation of assessments among market rate units permitted by the DRE, provided that the proportionate assessment allocated to any BMR unit is not greater than the percentage that would have been allocated to that unit if the allocation among all units had been made on the basis of the respective interior living floor area areas of all units. Reduction of Units. Except in the case of an event of force majeure that prevents, for a period of more than five (5) years, and then for only so long as the event of 5 o force majeure prevents such construction, the construction of fifty percent (50%) or more of the multi-family units, the terms of this Agreement shall not be altered, even if the number of units, size of units, or any other aspect of the project is altered. Bindin.q on Successors. The terms, covenants and conditions of this Agreement shall run with the land and shall apply to, and shall bind, the heirs, successors, executors, administrators, assigns, contractors, and subcontractors of the Parties. Costs and Attorneys’ Fees. The prevailing party in any action brought to enforce the terms of this Agreement or arising out of this Agreement may recover from the other party its reasonable costs and attorneys’ fees expended in connection with such an action. Notices. All notices hereunder shall be given in writing and mailed, postage prepaid, by certified mail, addressed as follows: To City:Office of the City Clerk CITY OF PALO ALTO 250 Hamilton Avenue Palo Alto, CA 94301 To Owner:Western Pacific Housing, Inc. DR Horton, Inc. Attn: Division President 6658 Owens Drive Pleasanton, CA 94588 Lender Consent and Subordination. Each and every beneficiary under a deed of trust encumbering the Property, if any, shall execute a lender consent and subordination agreement which shall be attached to and recorded with this agreement and a part of it. [This space intentionally left blank] IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in duplicate the day and year first above written. CITY OF PALO ALTO Assistant City Manager APPROVED AT TO FORM: Senior Deputy City Attorney WESTERN PACIFIC HOUSING, INC., A DELAWARE CORPORATION DBA D.R. HORTON, INC. Ed Galigher Vice President APPROVED AS TO CONTENT: Director of Planning and Community Environment Name: Title: EXHIBITS: B. C. D. E. Legal Description Description of BMR Units with Sales Prices Site Plan with Locations of BMR Units BMR Sales Price Calculations Procedures for Determination and Payment of BMR In-Lieu Fees on the Sale of Market Rate Ownership Units Below Market Rate Ownership Deed Restrictions [Version dated 8/93] CERTIFICATE OF ACKNOWLEDGMENT (Civil Code § 1189) STATE OF .) )SS. COUNTY OF ) On , before me, , a notary public in and for said County, personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Notary Public CERTIFICATE OF ACKNOWLEDGMENT (Civil Code § 1189) STATE OF ) )SS. COUNTY OF ) On , before me,., a notary public in and for said Cou nty,personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Notary Public CERTIFICATE OF ACKNOWLEDGMENT (Civil Code § 1189) STATE OF ) )SS. COUNTY OF ) On , before me, , a notary public in and for said County, personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Notary Public 2 Lender Consent and Subordination , a banking corporation, the beneficiary under that certain Deed of Trust encumbering the Property, which Deed of Trust was recorded on , as Instrument No.in the Official Records of Santa Clara County, hereby subordinates the Deed of Trust to the Agreement between Western Pacific Housing, Inc. and City of Palo Alto Requiring Provision of Below-Market- Rate Dwellings and In-Lieu Fee Payments at 4219 El Camino Real, Palo Alto, California. Any person receiving title to the Property, or any part thereof, by reason of a foreclosure sale, trustee sale or deed in lieu thereof shall take title subject to the aforementioned Agreement. By: Its: , a banking corporation 3 CERTIFICATE OF ACKNOWLEDGMENT (Civil Code § 1189) STATE OF .) COUNTY OF ) )SS. On , before me, , a notary public in and for said County, personally appeared , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Notary Public 4 EXHIBIT A PROPERTY DESCRIPTION LEGAL DESCRIPTION Real property in the City of Palo Alto, County of Santa Clara, State of California, described as follows: Parcel One: Portion of Lots 4, 5, 6 and 7, as shown upon that certain Map entitled, "Map of Subdivision of the Win. Rowe Property", which Map was filed for record in the Office of the Recorder of the County of Santa Clara, State of California, on April 4, 1894 in Book H of Maps, at page 43, and more particularly described as follows: Beginning at an iron pipe set at the point of intersection of the Northeasterly line of the San Francisco-San Jose Road (State Highway, 100 feet in width), with the Northwesterly line of that certain 3 acre tract of land described in the Deed from Robert M. Wilke et ux, to V. Melani et ux, dated July 21, 1925, recorded July 30, 1925 in Book 175 Official Records, page 192, Santa Clara County Records; running thence North 33° 07’ West along the said Northeasterly line of the San Francisco-San Jose Road, 551.83 feet to a granite monument; thence on a curve to the right with a radius of 100 feet through a central angle of 74° 47’ for a distance of 130.52 feet to a granite monument on the Southeasterly line of Charleston Road, as said Road is shown upon the Map above referred to; running thence North 41° 40’ East along the said Southeasterly line of Charleston Road, 110.13 feet to the Westernmost corner of that certain 0.176 acre tract of land described in the Deed from Robert M. Wilke to Karen O. Abrahamson, dated March 6, 1940, recorded March 6, 1940 in Book 970 Official Records, page 417, Santa Clara County Records; running thence South 44° 05’ East along the Southwesterly line of the said 0.176 acre tract, 85.56 feet to an iron pipe at the Southernmost corner thereof, which is also the Southernmost corner of that certain 0.0132 acre tract of land described in the Deed from Robert H. Wilke to Karen O. Abrahamson, dated February 21, 1946, recorded March 26, 1946 in Book 1340 of Official Records, page 386, Santa Clara County Records; running thence North 49° 57’ East along the Southeasterly line of said 0.0132 acre tract, 89.98 feet to an iron pipe at the Easternmost corner thereof; thence North 44° 05’ West along the Northeasterly line of said 0.0132 acre tract and along the Northeasterly line of said 0.176 tract, 98.56 feet to a point on the Southeasterly line of Charleston Road; running thence North 41° 40’ East along said last named line and its prolongation Northerly 698.12 feet to the intersection thereof with the center line of Wilkie Way, 40 feet in width, running thence South 33° 20’ East along the said center line of Wilkie Way 699.51 feet to a point distant thereon, North 33° 20’ West 108.79 feet from the Northernmost corner of that certain 6.00 acre tract of land described in the Deed from William Rowe et ux, to Nancy I. Maloy, dated March 19, 1902, recorded March 31, 1902 in Book 253 of Deeds, page 318, Santa Clara County Records; running thence South 41° 55’ 35" West and parallel with the Northwesterly line of said 6.00 acre tract 247.50 feet to a point on the Northeasterly line of the 3 acre tract above referred to; running thence North 33° 20’ West along said last named line 67.21 feet to the Northernmost corner of said 3 acre tract; running thence South 41° 55’ 35" West along the Northwesterly line of said 3 acre tract, 728.46 feet to the point of beginning. Excepting therefrom so much thereof as lies within the bounds of Wilkie Way, as described in the Deed from John H. Richey et al, to County of Santa Clara, dated April 28, 1947, recorded July 2, 1947 in Book 1483 of Official Records, page 209. Also excepting therefrom that certain portion described in the Deed to City of Palo Alto, recorded September 27, 1967 in Book 7872, page 466, Official Records and being more particularly First American 77t/e Insurance Company described as follows: EXHIBIT A PROPERTY DESCRIPTION Beginning at the point of intersection of the Northeasterly line of El Camino Real (100 feet wide) with the Northwesterly line of that certain 3 acre parcel of land described in the Deed from Robert M. Wilkie, et ux, to V. Melani, et ux dated July 21, 1925 and recorded July 30, 1925 in Book 175, page 192 of Official Records, Record of Santa Clara County, California; thence N. 43° 16’ 16" E. along said Northwesterly line 10.35 feet; thence N. 31° 49’ 19" W., parallel with said Northeasterly line 67.44 feet to the true point of beginning; thence continuing N. 31° 49’ 19" W., 448.25 feet; thence Northerly along the arc of a tangent curve to the right, having a radius of 110 feet, through a central angle of 74° 45’ 45" for an arc length of 143.53 feet to a tangent point; thence N. 42° 56’ 26" E;, parallel with the Southeasterly line of Charleston Road (58 and 70 feet wide) 22.87 feet; thence Southerly along the arc of a tangent curve to the left, having a radius of 125 feet through a central angle of 74° 45’ 45" for a length of 163.11 feet; thence S. 31° 49’ 19" E., parallel with said Northeasterly line, 200.00 feet; thence S. 29° 11’ 42" E., 240.00 feet to the true point of beginning, being a portion of Lots 4, 5 and 6, Map of Subdivision of the Wm. Rowe Property, which Map was recorded April 4, 1894 in Book "H", page 43 of Maps, Records of Santa Clara County, California. Also excepting therefrom that certain parcel described in the Final Judgment of Condemnation recorded January 20, 1969 in Book 8407, page 601 Official Records and being more particularly described as follows: Beginning at the point of intersection of the Northeasterly line of El Camino Real (100 feet wide) with the Northwesterly line of that certain 3 acre parcel of land described in the Deed from Robert M. Wilkie, et ux, to V. Melani, et ux, dated July 21, 1925 and recorded July 30, 1925 in Book 175, page 192 of Official Records, Records of Santa Clara County, California; thence N. 31° 49’ 19" W. along said Northeasterly line 551.83 feet; thence along the arc of a tangent curve to the right, having a radius of 100 feet, through a central angle of 48° 55’ 14" for an arc distance of 85.38 feet to a non-tangent point on the Southeasterly line of Charleston Road (58’ and 70’ wide); thence in a generally Northeasterly direction along said Southwesterly line for the following courses and distances, N. 42° 56’ 26" E. 110.24 feet; S. 47° 03’ 34" E. 12.00 feet; and N. 42° 56’ 26" E. 41.84 feet; thence S. 46° 59’ 19" E. 5.01 feet; thence S. 42° 56’ 26" W., parallel with said Southeasterly line, 98.46 feet; thence along the arc of a tangent curve to the left, having a radius of 110 feet, through a central angle of 74° 45’ 45" for an arc distance of 143.53 feet to a tangent point; thence S. 31° 49’ 19" E., parallel with said Northeasterly line, 515.69 feet to a point on said Northwesterly line; thence S. 43° 16’ 16" W. along said Northwesterly line 10.35 feet to the point of beginning, being a portion of Lots 4, 5 and 6, Map of the Subdivision of the William Rowe Property, which Map was recorded April 4, 1894 in Book "H", page 43 of Maps, Records of Santa Clara County, California. Parcel Two: Portion of Lot 4, as shown upon that certain Map entitled, "Map of Subdivision of the Win. Rowe Property", which Map was field for record in the Office of the Recorder of the County of Santa Clara, State of California on April 4, 1894 in Book H of Maps, at page 43, and more particularly described as follows: Beginning at a point on the Northwesterly line of that certain 3 acre tract of land described in the Deed from Robert M. Wilke, et ux, to V. Melani, et ux, dated July 21, 1925, recorded July 30, 1925 in Book 175 Official Records, page 192, Santa Clara County Records; distant thereon North 41° 55’ 35" East 404.46 feet from the Northeasterly line of San Francisco-San Jose Road (State First American 77t/e Insurance Company EXHIBIT A PROPERTY DESCRIPTION Highway, 100.00 feet in width); running thence North 41° 55’ 35" East along the Northwesterly line of said 3 acre tract, 324.00 feet to the Northernmost corner thereof; running thence South 33° 20’ East along the Northeasterly line of said 3 acre tract, to the point distant thereon North 33° 20’ West 108.79 feet from the Easternmost corner thereof; running thence South 41° 55’ 35" West and parallel with the Northwesterly line of said 3 acre tract, 256.25 feet; thence North 86° West 82.40 feet to the point of beginning. Parcel Three: Portion of Lots 3 and 4, as shown upon that certain Map entitled, "Map of Subdivision of the Wm. Rowe Property", which Map was filed for record in the Office of the Recorder of the County of Santa Clara, State of California, on April 4, 1894 in Book H of Maps, page 43, and more particularly described as follows: Beginning at the point of intersection of the Southwesterly line of Wilkie Way, as said line was established by the Deed from John H. Rickey, et al, to County of Santa Clara, dated April 28, 1947 and recorded July 2, 1947 in Book 1483 of Official Records, page 209, Santa Clara County Records; with the Northwesterly line of that certain 6 acre tract of land described in the Deed from William Rowe, et ux, to Nancy L. Maloy, dated March 19, 1902 and recorded March 31, 1902 in Book 253 of Deeds, page318; running thence South 41° 55’ 35" West along the Northwesterly line of said 6 acre tract 226.82 feet to the Easternmost corner of that certain 3 acre tract of land described in the Deed from Robert M. Wilke, et ux, to V. Melani, et ux, dated July 21, 1925 and recorded July 30, 1925 in Book 175 of Official Records, page 192, Santa Clara County Records: running thence North 33° 20’ West along the Northeasterly line of said 3 acre tract 108.79 feet; running thence North 41° 55’ 35" East and parallel with the Northwesterly line of said 6 acre tract 226.82 feet to a point on the said Southwesterly line of Wilkie Way; running thence South 33° 20’ East along said last named line 108.79 feet to the point of beginning. Parcel Four: Commencing at a point on the original Northeasterly line of the San Francisco and San Jose Road; distant thereon South 32° 45’ East 627.22 feet from the point of intersection thereof with the Southeasterly line of Charleston Road, said point of commencement being the most Westerly corner of that certain 3 acre tract of land described in the Deed from Robert M. Witke, et ux, to V. Melani, et ux, dated July 21, 1925 and recorded July 30, 1925 in Book 175 of Official Records, page 192; and also being the most Westerly corner of that certain 0.06 acre parcel of land conveyed by V. Melani, et ux, to the State of California, by Deed dated October 23, 1929 and recorded December 30, 1929 in Book 497 of Official Records, page 166; thence along the Northwesterly line of said 0.06 acre parcel of land North 42° 25’ East 14.67 feet to the most Northerly corner thereof, which is the true point of beginning of the parcel of land to be described; thence from said true point of beginning and along the Northwesterly line of said 3 acre tract of land, North 42° 10’ East 404.46 feet to the most Westerly corner of that certain parcel of land conveyed by V. Melani, et ux, to Rickey’s Studio Inn Hotel, a California Corporation by Deed dated May 27, 1952 and recorded August 7, 1952 in Book 2465 of Official Records, page 438; thence along the Southwesterly line of said parcel of land so conveyed to Rickey’s Studio Inn Hotel, South 86~ East 82.40 feet to the most Southerly corner thereof; thence along the Southeasterly line of said parcel of land so conveyed to Rickey’s Studio Inn Hotel, North 41° 55’ 35" East 256.25 feet to the most Easterly corner thereof on the Northeasterly line of said 3 acre tract of land; thence along said Northeasterly line of said 3 acre tract of land, South 32~ 45’ East 108.79 feet to the most Easterly corner thereof; thence along the Southeasterly line of said 3 acre tract of land, South 42° 10’ West 728.65 feet to the most Easterly corner of said 0.06 acre parcel of land so conveyed to the State of California; thence along the Northeasterly line of said First American 77t/e Insurance Company EXHIBIT A PROPERTY DESCRIPTION 0.06 acre parcel of land, which is also the present Northeasterly line of San Francisco and San Jose Road, North 32° 50’ West 176.24 feet to the true point of beginning and being a portion of Lots 3 and 4 as shown upon the Map of subdivision of the Win. Rowe Property, which was filed for record in the Office of the Recorder of the County of Santa Clara, State of California, on April 4, 1894 in Book H of Maps, page 43. Excepting therefrom the portions thereof described in the Final Judgment of Condemnation by City of Palo Alto recorded on July 11, 1968 in Book 8188 Official Records, page 43 as follows: Beginning at the point of intersection of the Northeasterly line of El Camino Real (100 feet wide) with the Northwesterly line of that certain 3 acre parcel of land described in the Deed from Robert M. Wilke, et ux, to V. Melani, et ux, dated July 21, 1925 and recorded July 30, 1925 in Book 175, page 192 of Official Records, Records of Santa Clara County, California; thence South 31° 49’ 19" East, along said Northeasterly line 176.24 feet; thence North 43~ 16’ 16" East, parallel with said Northwesterly line, 10.35 feet; thence North 31~ 49’ 19" West, parallel with said Northeasterly line 176.24 feet to a point on said Northwesterly line; thence South 43~ 16’ 16" West, along said Northwesterly line, 10.35 feet to the point of beginning being a portion of Lots 3 and 4, Map of the Subdivision of the William Rowe Property, which Map was recorded April 4, 1894 in Book "H", page 43 of Maps, Records of Santa Clara County, California. APN: 147-47-035 and 038 ARB: 147-47-35 and 38 First American 77tie Insurance Company EXHIBIT B EXHIBIT C BMR UNIT LOCATIONS m CITY OF PALO ALTO EXHIBIT C BMR EXHIBIT SANTA CLARA COUNT~ Date:April 29, 2005 EXHIBIT D PLANNING DIVISION Memorandum To:Planning Division Staff & Housing Developers, and Others From:Catherine Siegel, Housing Coordinator, Planning Division Steve Emslie, Director of Planning & Community Environment Subject:Updated Prices for Ne~v BMR Units - Effective April 1, 2005 Palo Alto has updated its prices for newly constructed housing units for the Below Market Rate (BMR) home ownership program, as shown below. The attached tables explain the price calculations. The City updates the BMR prices annually. The new prices are effective as of April 1, 2005 and apply to BMR units in projects receiving final planning entitlement approvals during the following year. Factors updated annually are: the Area Median Income (AMI) for Santa Clara County, as published by the State Department of Housing & Community Development, interest and mortgage insurance rates for loans typically used by BMR buyers and other home ownership costs (covered by allowances for repairs and maintenance, typical homeowner association dues, and fire insurance). The developer is required to sell new BMR units at the "BMR Unit Price". The required BMR price is the midpoint price affordable by assumed households in the target income range for that unit type. BMR units must also comply with the Ciw’s "Standards for BMR Units". As described in the BMR Program H-36 of the Housing Element, as adopted in December 2002, there are two levels of affordability for BMR ownership units, as shown below: Studio Units 1-bedroom units 2-bedroom units 3-bedroom units 4-bedroom units Lower Moderate Income 80%to 100%AMI Units $175,100 $208,600 $242,250 $275,850 $302,750 Higher Moderate Income 100%to 120%AMI Units $227,300 $268,450 $309,500 $350,550 $383,450 Attachments: 1) Price Calculations for Lower Moderate Income Units (80% to 100% of AMI) 2) Price Calculations for Higher Moderate Income Units (100% to 120% of AMI) CADocuments and Settings\csiegel\Local Settings\Temporary Internet Files\OLK19~BMR Price Exh D Cover Memo 4-05.doc Persons In Household 1 2 3 4 5 EXHIBIT D City of Palo Alto BMR Ownership Program Prices for New BMR Units for Households at 80% to 100% of Median Income 80% of County Area Median Income $59,100 $67,50O $75,950 $84,400 $91,150 Revised April 2005 100% of County Area Median Income Range of Affordable Prices at 80% to 100% of Median Income $73,850 $84,400 $94,950 $105,500 $113,950 $149,000 $201,200 $178,700 $238,500 $208,600 $275,900 $238,500 $313,200 $262,400 $343,100 Assumed Household Size for Unit Type U nit Type 1 Studio 2 1 Bedroom 3 2 Bedrooms 4 3 Bedrooms 5 4 Bedrooms BMR Unit Price (Assumes 90% of Area Median Income & Midpoint Price Assumed Household Size for the Unit Type) $175,100 $208,600 $242,250 $275,850 $302,750 VARIABLES AND ASSUMPTIONS: Area Median Income: 4-person household (As of 2/25/05) Annualized Rates: Interest Rates (As of 4/1/05) Mortgage Insurance (As of 4/1/05) Property Taxes Total Effective Interest Rate Number of Monthly Payments: Loan-To-Value (5% downpayment): Allowance for: HOA Association Dues; Repairs & Maintenance Costs, & Fire Insurance (Per Month) Loan Terms: Zero (0) Loan Points 30 Year, Fixed Rate, Fully Amortized Loan Maximum of 30% of Gross Income for All Housing Costs (mortgage, private mortgage insurance, property taxes, HOA dues, repairs & maintenance allowance, fire insurance) $105,500 6.00% 0.89% 1.25% 8.14% 360 95% $425 H:\Sheet~BMR Exh D 4-2005 Sales Prices at 80-100 EXHIBIT City of Palo Alto BMR Ownership Program Prices for New BMR Units Persons In Household 1 2 for Households at 100% to 120% of Median Income Revised April 2005 100% of County Area Median Income $73,850 $84,400 $94,950 $105,500 $113,950 120% of County Area Median Income $88,600 $101,300 $113,950 $126,600 $136,750 Range of Affordable Prices at 100% to 120% of Median Income $201,200 -$253,400 $238,500 -$298,400 $275,900 -$343,100 $313,200 -$387,900 $343,100 -$423,800 Assumed Household Size for Unit Type Unit Type 1 Studio 2 1 Bedroom 3 2 Bedrooms 4 3 Bedrooms 5 4 Bedrooms BMR Unit Price (Assumes 110% of Area Median Income & Midpoint Price for Assumed Household Size for the Unit Type) $227,300 $268,450 $309,500 $350,550 $383,450 VARIABLES AND ASSUMPTIONS: Area Median Income: 4-person household (As of 2/25/05) Annualized Rates: Interest Rates (As of 4/1/05) Mortgage Insurance (As of 4/1/05) Property Taxes Total Effective Interest Rate Number of Monthly Payments: Loan-To-Value (5% downpayment): Allowance for: HOA Association Dues; Repairs & Maintenance Costs, & Fire Insurance (Per Month) Loan Terms: Zero (0) Loan Points 30 Year, Fixed Rate, Fully Amortized Loan Maximum of 30% of Gross Income for All Housing Costs (mortgage, private mortgage insurance, property taxes, HOA dues, repairs & maintenance allowance & fire insurance) $105,500 6.00% 0.89% 1.25% 8.14% 360 95% $425 H:\Sheet\BMR Exh D 4-2005 Sales Pdces at 100 -120 EXHIBIT E BMR Program Policy and Procedures 2005:01 Date: May 18, 2005 Page 1 of 1 Procedures for Determination & Payment of BMR In-lieu Fees on the Sale of Market Rate Ownership Units Calculation of BMR In-Lieu Fees If the BMR Agreement requires the Developer to pay the City a BMR in-lieu fee on the sale of market rate housing units, the fee amount for each market rate unit is equal to the applicable in- lieu fee rate, as specified in the BMR Agreement, times the hi~her of the market value (as a for-sale ownership unit) or the actual sales price of each market rate unit in the Prqiect. The Escrow Agent shall calculate the actual in-lieu fee just prior to the sale closing. The Escrow Agent shall include in the sales price all improvements, add-ons, options, fixtures, appliances, landscaping, equipment, furniture and other items that the buyer purchases from the Developer, or the Developer’s contractors, prior to close of escrow and transfer of title to the unit to the buyer. Developer shall inform the Escrow-Agent of the prices for such items, even if the items will not be paid for through the escrow- transaction, so that the Escrow Agent can correctly calculate the BMR in-lieu fee due to the City. The City reserves the right to require an appraisal of any unit to confirm its fair market value. The Developer shall reimburse the City for the cost of any such appraisals. Process for Units Not Sold on Open Market Basis Should any units be sold at less than fair market value or sold, transferred or exchanged to a person or entity related to the Developer, the original land owner or an investor in the Project or should Developer retain any units for personal use or rental, then Developer shall pay the City an in-lieu fee for each such unit based on the fair market value of each unit as if each unit were being sold separately on the open market as an ownership housing unit. An appraiser selected by the City shall determine the fair market value of each unit. The Developer shall reimburse the City for the cost of any such appraisals. The BMR Agreement may include a deadline by which all in-lieu fees are due and payable to the City even if all units have not yet been sold. Timing & Process for In-Lieu Fee Payments For each unit subject to the fee, the full in-lieu fee payment is due and payable to the City at the close of escrow for the first sale (or other transfer of title) by the Developer of that unit. The fee shall be deducted by the Escrow-Agent from the Developer’s (seller’s) sales proceeds at escrow closing and immediately transmitted to the City per instructions to be provided by the City at that time. The Escrow Agent shall provide the City with the following documentation together with the check for the fee payment for each unit to verify the calculation of the fee: 1.A certified HUD-1 form for each unit’s sale 2.A list of any improvements and their prices, if not showx~ on the HUD- I form 3.A calculation of the amount of the in-lieu fee Security for In-Lieu Fee Payments The City may require a bond from the Developer or that a note and deed of trust be recorded against the Project in favor of the City as security for the payment of BMR in-lieu fees. C:~Documents and Settings\csiegel\Local Settings\Temporar3~ Internet Files\OLK19k2005-01 In Lieu Fee Procs on For Sale Units.doc EXHIBIT F City of Palo Alto Below Market Rate (BMR) Program Deed Restrictions (August 1993) SUBJECT TO: A.Right of First Refusa!. Grantee hereby grants and gives to the City of Palo Alto ("City") a right to purchase the real property conveyed hereby and any improvements thereon (the "Premises") under conditions hereinafter set forth. City may designate a governmental or nonprofit organization to exercise its right of first refusal. City or its designee may assign this right to an individual private buyer who meets the City’s eligibilit?~ qualifications. After the exercise of said right by City’, its designee or assignee in the manner hereinafter prescribed, City, its designee or assignee may assign said right to purchase to any substitute individual private buyer who meets the City’s eligibility requirements and is approved by the City; provided, however, that such subsequent assignment shall not extend any time limits contained herein. Any attempt to transfer title or any interest therein in violation of these covenants shall be void. B.Procedure on Sale. Whenever the Owner ("Owner" refers to Grantee and all successors in interest) of said Premises no longer desires to own said Premises, owner shall notify City in writing to that effect. Such notice shall be personally delivered or deposited in the United States mail, postage prepaid, first class, certified, addressed to City Manager, City of Palo Alto, 250 Hamilton Avenue, Palo Alto, CA 94301, with a copy to the Palo Alto Housing Corporation, 725 Alma Street, Palo Alto, CA 94301-2403. City, its designee or assignee shall then have the right to exercise its right to purchase said Premises by delivery of written notice, by personal delivery or certified mail, to the Owner thereof at any time within sixty (60) days from the receipt by City of such written notice from Owner of intent to sell or dispose of the Premises. If the City, its designee or assignee exercises its right to purchase said Premises, close of escrow- of said purchase shall be within ninety (90) days of the opening of such escrow by either party. Said escrow shall be opened upon delivery to Owner of written notice of the exercise of the option or as soon thereafter as possible. In the event City decides to assign the right to purchase provided herein, City may postpone opening of escrow until selection of such assignee, or as soon thereafter as possible, provided that the opening of the escrow shall not be postponed longer that ninety (90) days after the Owner is notified of the City’s exercise of its right to purchase. Closing costs and title insurance shall be paid pursuant to the custom and practice in the City of Palo Alto at the time of the opening of such escrow. Seller shall bear the expense of providing a current written report of an inspection by a licensed Structural Pest Control Operator. All work recommended in said report to repair damage caused by infestation or infection of wood-destroying pests or organisms found and all work to correct conditions that caused such infestation or infection shall be done at the expense of the Seller. Any work to correct conditions usually deemed likely to lead to infestation or infection of wood-destroying pests or organisms, but where no evidence of infestation or infection is found with respect to such conditions, is not the responsibility of the Seller, and such work shall be done only if requested by the Buyer and then at the (Rev. 8/93)1 Reg. EXHIBIT F expense of the Buyer. The Buyer shall be responsible for payment of any prepa3q-nent fees imposed by any lender by reason of the sale of the premises. The purchase price shall be paid in cash at the close of escrow or as may be otherwise provided by mutual a~eement of Buyer and Seller. The purchase price of the Premises shall be fixed at the lower amount arrived at via the following two methods: City or its designee shall have an appraisal made by an appraiser of its choice to establish the market value. The owner may also have an appraisal made by an appraiser of Owner’s choice to establishthe market value. If agreement cannot be reached, the average of the two appraisals shall be termed the market price. Dollars ($) XXXXXXXXXNXN plus the amount of any prepasqnent fees paid by the selling Owner at the time said Owner purchased the Premises (base price), plus an amount, if any, to compensate for any increase in the cost of living as measured by one-third (1/3) of the Consumer Price Index, All Urban Consumers, for the San Francisco- Oakland-San Jose area published by the U.S. Department of Labor, Bureau of Labor Statistics (hereinafter "the Index"). For that purpose, the Index prevailing on the date of the purchase by the selling Owner of said Premises shall be compared with the latest Index available on the date of receipt by City of notice of intent to sell. The percentage increase in the Index, if any, shall be computed and the base price shall be increased by one-third (1/3) of that percentage; provided, however, that the price shall in no event be lower than the purchase price paid by the selling Ow-ner when he purchased the Premises. This adjusted price shall be increased by the value of any substantial structural or permanent fixed improvements which cannot be removed without substantial damage to the Premises or substantial or total loss of value of said improvements and by the value of any appliances, fixtures, or equipment purchased to replace appliances, fixtures, or equipment which were originally acquired as part of the Premises by Owner; provided that such price adjustment for replacement appliances, fixtures, or equipment shall be allowed only when the expenditure is necessitated by the non-operative or other deteriorated condition of the original appliance, fixture, or equipment. If at the time of replacement the original appliance, fixture, or equipment had in excess of twenty percent (20%) of its original estimated useful life remaining, Owner shall document to the City’s satisfaction the condition of the appliance, fixture, or equipment which necessitated its replacement. No such price adjustment shall be made significantly in excess of the reasonable cost to replace the original appliance, fixture, or equipment with a new appliance, fixture, or equipment of comparable quality as hereinafter provided. No such adjustment shall be made except for improvements, appliances, fixtures, or equipment made or installed by the selling Owner. No improvements, appliance, fixture, or equipment shall be deemed substantial unless the actual initial cost thereof to the Owner exceeds one percent (1.0%) of the purchase price paid by the Owner for the Premises; provided that this minimum limitation shall not apply in either of the following situations: (a)Where the expenditure was made pursuant to a mandatory assessment levied by the Homeowners’ association for the development in which the Premises is located, whether levied for improvements or maintenance to the Premises, the common area, or related purposes. (b) Where the expenditure was made for the replacement of appliances, fixtures, or equipment which were originally acquired as part of the Premises by Owner. (Rev. 8/93)2 Reg. EXHIBIT F No adjustment shall be made for the value of any improvements, appliances, fixtures, or equipment unless the Owner shall present to the City valid v~itten documentation of the cost of said improvements. The value of such improvements by which the sale price shall be adjusted shall be determined as follows: (a)The value of any improvement, appliance, fixture, or equipment, the original cost of which was less than Five Thousand Dollars ($5,000), shall be the depreciated value of the improvement, appliance, fixture or equipment calculated in accordance with principles of straight-line depreciation applied to the original cost of the improvement, appliance, fixture or equipment based upon the estimated original useful life of the improvement, appliance, fixture or equipment. (b)The value of any improvement, appliance, fixture, or equipment, the origina! cost of which was Five Thousand Dollars ($5,000) or more, shall be the appraised market value of the improvement, appliance, fixture or equipment when considered as an addition or fixture to the premises (i.e., the amount by which said improvement, appliance, fixture or equipment enhances the market value of the premises) at the time of sale. Said value shall be determined in the same manner as the market value of the premises in method 1 above. (c)On January 1, 1982, and every two years thereafter, regardless of the date of execution or recordation hereof, the amount of Five Thousand Dollars ($5,000) referred to in paragraphs (a) and (b) immediately above shall be automatically adjusted for the purpose of those paragraphs in the following manner. On each adjustment date, the Consumer Price Index, All Urban Consumers, for the San Francisco-Oakland area published by the U.S. Department of Labor, Bureau of Labor Statistics ("Index") prevailing on January !, 1980, shall be compared with the Index prevailing on the date of recordation of this deed. The percentage increase in the Index, if any, shall be computed and the sum of Five Thousand Dollars ($5,000) shall be increased in the same percentage. In no event shall the sum be reduced below Five Thousand Dollars ($5,000). (d)No price adjustment wilt be made except upon presentation to City of written documentation of all expenditures made by Owner for which an adjustment is requested. Any sale price determined through the use of this method number 2 (base price adjusted by Consumer Price Index and value of improvements, appliances, fixtures or equipment added) shall be adjusted by decreasing said price by an amount to compensate for deferred maintenance costs, which amount shall be determined as follows: Upon receipt of notice of Owner’s intent to sell, City or its designee shall be entitled to inspect the Premises. City or its designee shall have an opportunity to determine whether all plumbing, electrical, and heating systems are in working order; whether any violations of applicable building, plumbing, electric, fire, or housing codes exist; whether all appliances which were originally furnished to Owner as part of the Premises, or any replacements thereof, are in working order; whether walls, ceilings and floors are clear and free of holes or other defects (except for holes typical of picture hangers); whether doors, windows, screens and similar appurtenances are cracked, broken or torn; and whether carpets, drapes and similar features which were originally furnished to Owner as part of the premises, or any replacement thereof, are clean and free of holes, tears or other defects. In the event deficiencies are noted, the Real Property Administrator of City (Rev. 8193)3 Reg. EXHIBIT F shall obtain estimates to cure the observed deficiencies. The Owner shall cure the deficiencies in a reasonable manner acceptable to City or designee within sixty (60) days of being notified of the results of the inspection, but in no event later than close of escrow-. Should owner fail to cure such deficiencies prior to the scheduled date of close of escrow, at the option of City, its designee or assignee, escrow may be closed, title passed and money paid to the selling Owner subject to the condition that such funds as are necessary to pay for curing such deficiencies (based upon "~ritten estimates obtained by City) shall be withheld from the money due the selling Owner and held by the escrow holder for the purpose of curing such deficiencies. City, its designee or assi~ee shall cause such deficiencies to be cured and upon certification of completion of work by City, escrow holder shall utilize such funds to pay for said work. Any remaining funds shall be paid to the selling Owner. No other payment shall be due said Owner. In no event shall City become in any way liable to Owner or any potential or actual Buyer of the Premises in connection with any sale or other conveyance of the Premises. Nor shall City become obligated in any manner to Owner or any potential or actual Buyer by reason of the assignment of City’s right to purchase. Nor shall City be in any way obligated or liable to Owner or any potential or actual Buyer for any failure of City’s assignee to consummate a purchase of the Premises or to comply with the terms of any purchase and sale agreement. Until such time as the City’s right to purchase is exercised, waived, or expired, the Premises and any interest in title thereto shall not be sold, conveyed, leased, rented, assigned, encumbered or otherwise transferred to any person or entity except with the prior express written consent of City or its designee, which consent shall be consistent with Ci~’s goal of creating, preserving, maintaining, and protecting housing in Pato Alto for persons of low and moderate income. Any encumbering of title of the Premises in connection with securing any financing or loan may only be accomplished with City’s prior express written consent; however, in the event of foreclosure or transfer by deed in lieu of foreclosure, the provisions of Section D of this instrument shall govern. The following transfers of title or any interest therein are not subject to the right of first refusal provisions of this deed: transfer by gift, devise, or inheritance to grantee’s spouse or issue; taking of title by surviving joint tenant; transfer of title to spouse as part of divorce or dissolution proceedings; acquisition of title or interest therein in conjunction with marriage; provided, however, that these covenants shall continue to run with the title to said Premises following said transfers. C.Termination of Right of First Refusal. The provisions set forth in this deed relating to City’s right to purchase shall terminate and become void automatically fifty-nine (59) years following the date of recordation of this deed. Upon the expiration of said fifty-nine (59) year period, the Palo Alto Housing Corporation, a non-profit charitable organization or its successor organization, shall have the right to purchase the Premises, and if Owner no longer desires to own the premises, Owner shall notify the Palo Alto Housing Corporation in accordance with the procedures for notifying the City in Paragraph B above. If the Palo Alto Housing (Rev. 8/93)4 Reg. EXHIBIT F Corporation elects to exercise its right to purchase, it shall do so in accordance with the procedures and price set forth for the City in Paragraph B above. D. Default. Owner covenants to cause to be filed for record in the Office of the Recorder of the County of Santa Clara a request for a copy of any notice of default and of any notice of sale under any deed of trust or mortgage with power of sale encumbering said Premises pursuant to Section 2924 (b) of the Civil Code of the Sate of California. Such request shall specify that any such notice shall be mailed to the City Manager, City of Palo Alto, 250 Hamilton Avenue, Palo Alto, CA 94301. Any notice of sale given pursuant to Civil Code Section 2924 (f) shall constitute a notice of intent to sell hereunder and City or its designee or assignee may exercise its preemptive right prior to any trustee’s sale, judicial foreclosure sale, or transfer by deed in lieu of foreclosure, provided, however, notwithstanding any language contained in this instrument to the contrary regarding the rights of the lien holder, the City, or its designee or assignee, must complete such purchase no later than the end of the period established by California Civil Code Section 2924 ( c ) for reinstatement of a monetary default under the deed of trust or mortgage. In the event of default and foreclosure, the City, or its designee or assignee, shall have the same right as the Owner to cure defaults and redeem the Premises prior to foreclosure sale. Such redemption shall be subject to the same fees, charges and penalties as would otherwise be assessed against the Owner. Nothing herein shall be construed to create any obligation on the part of the City to cure any such default, nor shall this right to cure and redeem operate to extend any time limitations in the default provisions of the underlying deed of trust or mortgage. The City, or its designee or assignee, shall be entitled to recover from Owner all costs incurred in curing any such default. In the event City elects not to exercise its right to purchase upon default, any surplus to which Owner may be entitled pursuant to Code of Civil Procedure Section 727 shall be paid as follows: That portion of surplus (after payment of encumbrances), if any, up to but not exceeding the net amount that Owner would have received after payment of encumbrances under the formula set forth above had City exercised its right to purchase the property on the date of the foreclosure sale, shall be paid to Owner on the date of the foreclosure sale; the balance of surplus, if any, shall be paid to the City. for increasing the City’s low-income and moderate-income housing stock. E.Distribution of Insurance and Condemnation Proceeds. In the event that the Premises are destroyed and insurance proceeds are distributed to Owx~er instead of being used to rebuild, or in the event of condemnation, if proceeds thereof are distributed to Owner, or in the case of a condominium project, in the event of liquidation of the homeowners’ association and distribution of the assets of the association to the members thereof., including Owner, any surplus of proceeds so distributed remaining after payment of encumbrances of said Premises shall be distributed as follows: That portion of the surplus up to but not to exceed the net amount that Owner would have received under the formula set forth above had City exercised its right to purchase the property on the date of the destruction, condemnation valuation date, or liquidation, shall be distributed to Owner, and the balance of such surplus, if any, shall be distributed to the Palo Alto Housing Corporation or its successors or assigns. (Rev. 8/93)5 Reg. EXHIBIT F All notices required herein shall be sent to the following addresses: CITY:City Manager City of Palo Alto 250 Hamilton Avenue Palo Alto, CA 94301 PALO ALTO HOUSING CORPORATION: OWNER: 725 Alma Street, Palo Alto, CA 94301-2403 By acceptance of this deed, Grantee/Owmer accepts and agrees to be bound by the covenants contained herein, and further acknowledges receipt of and agees to be bound by the provisions of these deed restrictions. IN WITNESS WHEREOF, the undersigned Grantee has caused this instrument to be executed this day of .20 Signature of Grantee Signature of Grantee Print Name Print Name Signature of Grantee Signature of Grantee Prim Name Print Name (Rev. 8/93)6 Reg. EXHIBIT F CERTIFICATE OF ACKNOWLEDGMENT (Civil Code Sec. 1189) STATE OF COUNTY OF ) On . before me, , a notary public in and for said Count5.,, personally appeared personally ~known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her!their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. (Rev. 8/93)7 Reg.