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EXHIBIT B—SCHEDULE OF PERFORMANCE Place Parcel from the Housing Authority for the development of the Development, and the operation and management of such housing. 2. Subdivision The City shall perform a No later than Sixty (60) days following HUD lot line adjustment or other applicable Demolition and Disposition Approval. subdivision process necessary to create the Regalia Parcel and shall coordinate such process with the Parks Department. The City shall perform a lot line adjustment, merger, or other applicable subdivision process necessary to combine the Kottinger Parcel, the Regalia Parcel, and the Vineyard Parcel into one parcel suitable for the development of the Development. 1. Tax Credits Developer shall prepare an In the first application cycle after all public application to TCAC for the Tax financing is committed, Acquisition of Credits Kottinger Parcel, and Subdivision have occurred. If unsuccessful in first application, Developer shall submit twice annually until Tax Credit award is secured. 2. Construction Plans Developer shall Twenty-two (22) months after the date of submit its Construction Plans to the Planning Approval, provided that such date City for the City's review and approval. may be extended if HUD's approval of the Housing Authority's Demolition Disposition Application has not been received. 2. Evidence of Financing Developer shall No later than two (2) years after Planning submit evidence of equity capital and Approval by the City with the ability to extend mortgage financing necessary for for an additional two (2) years provided development of Phase I. Developer is not in default under this Agreement. 3. Permits Developer shall obtain all Within one (I) year after submission of permits and approvals to construct the Evidence of Financing for Phase I. Development, including a Planned Unit Development Permit and demolition building permits. 4. Opening of Escrow The City/and or No later than six (6) months following an Developer shall open escrow for the award of Tax Credits. conveyance Phase Ito Developer (or its assignee) 5. Close of Escrow The City shall convey No later than six (6) months following the leasehold title to the Phase I site to Opening of Escrow.