Common use of Subdivision Maps Clause in Contracts

Subdivision Maps. 3.10.1 Developer shall have the right, from time to time or at any time, to file subdivision map applications with respect to some or all of the Project Site, to subdivide or reconfigure the parcels comprising the Project Site as may be necessary or desirable in order to develop a particular Development Phase of the Project or to lease, mortgage or sell all or some portion of it, consistent with the density, block and parcel sizes set forth in the Parkmerced Design Standards and Guidelines. The City acknowledges that Developer intends to create and sell condominiums on the Project Site, and that such intent is reflected in the Basic Approvals and Plan Documents. Notwithstanding anything to the contrary set forth above, in any subdivision or condominium map placed on the Project Site, the Replacement Units shall not be subdivided into separate condominium units so as to ensure that the Replacement Units remain rental units, under common ownership, for the life of each building in which a Replacement Unit is located. Developer shall record restrictions running with the land, in form and substance satisfactory to City (the “Recorded Restrictions”), binding upon Developer and successor owners of all or part of the Replacement Units, that shall, without limitation: (i) require that the Replacement Units remain rental for the life of the buildings in which they are located; (ii) waive any and all rights to evict tenants under the ▇▇▇▇▇ Act (California Gov’t Code Section 7060 et seq.) and any other laws or regulations that permit owner move-in evictions; (iii) apply the Rent Ordinance to the Replacement Units; and (iv) waive any other laws or regulations that would limit the ability of City to enforce the rental-only requirements and the other benefits and amenities relative to the Replacement Units under this Agreement. Developer, on behalf of itself and successor owners, agrees that it shall not seek to challenge the applicability or enforceability of the Recorded Restrictions. Without limiting City’s rights and remedies as set forth in this Agreement, the Parties acknowledge and agree that City shall have the right of specific performance to enforce the Recorded Restrictions against Developer and all successor owners. City would not be willing to enter into this Agreement, or to allow a subdivision or condominium map, without the agreement and understanding as set forth above. 3.10.2 Nothing in this Agreement shall authorize Developer to subdivide or use any of the Project Site for purposes of sale, lease or financing in any manner that conflicts with the State Subdivision Map Act, or with the San Francisco Subdivision Code, or that removes the Replacement Units from the rental market for the life of the buildings in which they are located, or that removes or renders ineffective or unenforceable the Rent Ordinance, or a similar successor ordinance, as applied against the Replacement Units, whether or not the initial Existing Tenant moves out of the unit. Developer’s commitment to maintain the Replacement Units as rent controlled shall survive the termination or expiration of this Agreement for so long as the Rent Ordinance, or a similar successor ordinance remains in effect, whether or not the initial Existing Tenant moves out of the unit, and such commitments shall be evidenced by a restriction recorded against the portion of the Project Site on which the Replacement Units are located and shall run with the land. Developer shall, as part of the Recorded Restrictions or as part of a subdivision map, waive any and all rights to evict tenants under the ▇▇▇▇▇ Act and any other laws or regulations that permit owner move-in evictions for any of the Replacement Units. 3.10.3 Nothing in this Agreement shall prevent the City from enacting or adopting changes in the methods and procedures for processing subdivision and parcel maps so long as such changes do not conflict with the provisions of this Agreement or with the Basic Approvals or any Implementing Approvals, or otherwise materially and adversely impact Developer’s rights under this Agreement.

Subdivision Maps. 3.10.1 Developer shall have the right, from time to time or and at any time, to file subdivision map applications with respect to some or all of the Project Site, to subdivide or reconfigure the parcels comprising the Project Site as may be necessary or desirable in order to develop a particular Development Phase of the Project or to lease, mortgage or sell all or some portion of itthe Project Site, consistent with the density, block and parcel sizes set forth in the Parkmerced Design Standards and Guidelines. The City acknowledges that Developer intends to create and sell condominiums on the Project Site, and that such intent is reflected in the Basic Approvals and Plan Documents. Notwithstanding anything to the contrary set forth above, in any subdivision or condominium map placed on the Project Site, the Replacement Units shall not be subdivided into separate condominium units so as to ensure that the Replacement Units remain rental units, under common ownership, for the life of each building in which a Replacement Unit is located. Developer shall record restrictions running with the land, in form and substance satisfactory to City (the “Recorded Restrictions”), binding upon Developer and successor owners of all or part of the Replacement Units, that shall, without limitation: (i) require that the Replacement Units remain rental for the life of the buildings in which they are located; (ii) waive any and all rights to evict tenants under the ▇▇▇▇▇ Act (California Gov’t Code Section 7060 et seq.; the “▇▇▇▇▇ Act”) and any other laws or regulations that permit owner move-in evictions; (iii) apply the Rent Ordinance to the Replacement Units; and (iv) waive any other laws or regulations that would limit the ability of City to enforce the rental-only requirements and the other benefits and amenities relative to the Replacement Units under this Agreement. Developer, on behalf of itself and successor owners, agrees that it shall not seek to challenge the applicability or enforceability of the Recorded Restrictions. Without limiting the City’s rights and remedies as set forth in this Agreement, the Parties acknowledge and agree that the City shall have the right of specific performance to enforce the Recorded Restrictions against Developer and all successor owners. The City would not be willing to enter into this Agreement, or to allow a subdivision or condominium map, without the agreement and understanding as set forth above. 3.10.2 Nothing in this Agreement shall authorize Developer to subdivide or use any of the Project Site for purposes of sale, lease or financing in any manner that conflicts with the State California Subdivision Map ActAct (California Government Code §§ 66410, et seq.), or with the San Francisco Subdivision Code, or that removes the Replacement Units from the rental market for the life of the buildings in which they are located, or that removes or renders ineffective or unenforceable the Rent Ordinance, or a similar successor ordinance, as applied against the Replacement Units, whether or not the initial Existing Tenant moves out of the unit. Developer’s commitment to maintain the Replacement Units as rent controlled shall survive the termination or expiration of this Agreement for so long as the Rent Ordinance, or a similar successor ordinance remains in effect, whether or not the initial Existing Tenant moves out of the unit, and such commitments shall be evidenced by a restriction recorded against the portion of the Project Site on which the Replacement Units are located and shall run with the land. Developer shall, as part of the Recorded Restrictions or as part of a subdivision map, waive any and all rights to evict tenants under the ▇▇▇▇▇ Act and any other laws or regulations that permit owner move-in evictions for any of the Replacement Units. 3.10.3 Nothing in this Agreement shall prevent the City from enacting or adopting changes in the methods and procedures for processing subdivision and parcel maps so long as such changes do not conflict with the provisions of this Agreement or with the Basic Approvals or any Implementing Approvals, or otherwise materially and adversely impact Developer’s rights under this Agreement.

Subdivision Maps. 3.10.1 Developer shall have the right, from time to time or and at any time, to file subdivision map applications with respect to some or all of the Project Site, to subdivide or reconfigure the parcels comprising the Project Site as may be necessary or desirable in order to develop a particular Development Phase of the Project or to lease, mortgage or sell all or some portion of itthe Project Site, consistent with the density, block and parcel sizes set forth in the Parkmerced Design Standards and Guidelines. The City acknowledges that Developer intends to create and sell condominiums on the Project Site, and that such intent is reflected in the Basic Approvals and Plan Documents. Notwithstanding anything to the contrary set forth above, in any subdivision or condominium map placed on the Project Site, the Replacement Units shall not be subdivided into separate condominium units so as to ensure that the Replacement Units remain rental units, under common ownership, for the life of each building in which a Replacement Unit is located. Developer shall record restrictions running with the land, in form and substance satisfactory to City (the “Recorded Restrictions”), binding upon Developer and successor owners of all or part of the Replacement Units, that shall, without limitation: (i) require that the Replacement Units remain rental for the life of the buildings in which they are located; (ii) waive any and all rights to evict tenants under the ▇▇▇▇▇ Act (California Gov’t Code Section 7060 et seq.; the “▇▇▇▇▇ Act”) and any other laws or regulations that permit owner move-in evictions; (iii) apply the Rent Ordinance to the Replacement Units; and (iv) waive any other laws or regulations that would limit the ability of City to enforce the rental-only requirements and the other benefits and amenities relative to the Replacement Units under this Agreement. Developer, on behalf of itself and successor owners, agrees that it shall not seek to challenge the applicability or enforceability of the Recorded Restrictions. Without limiting the City’s rights and remedies as set forth in this Agreement, the Parties acknowledge and agree that the City shall have the right of specific performance to enforce the Recorded Restrictions against Developer and all successor owners. The City would not be willing to enter into this Agreement, or to allow a subdivision or condominium map, without the agreement and understanding as set forth above. 3.10.2 Nothing in this Agreement shall authorize Developer to subdivide or use any of the Project Site for purposes of sale, lease or financing in any manner that conflicts with the State California Subdivision Map ActAct (California Government Code §§66410, et seq.), or with the San Francisco Subdivision Code, or that removes the Replacement Units from the rental market for the life of the buildings in which they are located, or that removes or renders ineffective or unenforceable the Rent Ordinance, or a similar successor ordinance, as applied against the Replacement Units, whether or not the initial Existing Tenant moves out of the unit. Developer’s commitment to maintain the Replacement Units as rent controlled shall survive the termination or expiration of this Agreement for so long as the Rent Ordinance, or a similar successor ordinance remains in effect, whether or not the initial Existing Tenant moves out of the unit, and such commitments shall be evidenced by a restriction recorded against the portion of the Project Site on which the Replacement Units are located and shall run with the land. Developer shall, as part of the Recorded Restrictions or as part of a subdivision map, waive any and all rights to evict tenants under the ▇▇▇▇▇ Act and any other laws or regulations that permit owner move-in evictions for any of the Replacement Units. 3.10.3 Nothing in this Agreement shall prevent the City from enacting or adopting changes in the methods and procedures for processing subdivision and parcel maps so long as such changes do not conflict with the provisions of this Agreement or with the Basic Approvals or any Implementing Approvals, or otherwise materially and adversely impact Developer’s rights under this Agreement.