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(2) 2 Bedroom Unit: Three(3)person household; (3) 3 Bedroom Unit: Five (5)person household; and (g) City acknowledges and finds that in recognition of the Project compliance with the fifteen percent (15%) affordable housing calculation provided in the City's inclusionary zoning ordinance,the Project is exempt from any obligation to pay the City's Lower Income Housing Fee. (h) In lieu of providing any affordable units required by this Agreement and in full satisfaction of all requirements of developer under this Agreement, City may elect, not later than the first to occur of one year after the effective date of this Agreement or forty- five (45) days after Developer notifies City in writing of its intent to apply for a building permit, to require a one time in lieu fee in the amount of Two Million Three Hundred Thousand ($2,300,000), which shall be payable upon issuance of certificates of occupancy. Section 3.04 School Fees. Developer shall pay school fees in accordance with a written agreement entered into, or to be entered into, between Developer and the Pleasanton Unified School District ("PUSD"), and Developer shall provide to City, prior to building permit issuance, PUSD's written confirmation of such agreement. Section 3.05 Processing Fees; Permit Fees (a) Building Permit. Developer shall pay to City building permit fees in accordance with the City's building permit ordinance in effect at the time the applicable building permit is granted by City. (b) Processing Fees. Developer shall pay to City the City's reasonable application processing fees for the Project in accordance with the City's fee schedule in effect at the time Developer submits the applicable Project application for processing. Section 3.06 Park Fees. Consistent with, and in satisfaction of Developer's Quimby Act (Gov't code section 66477) and City Park Fee Ordinance (Chapter 19.44 of the Pleasanton Municipal Code), Developer will pay City park fees totaling approximately One Million Four Hundred Ten Thousand Five Hundred Thirteen Dollars ($1,410,513). The precise amount of this contribution will be determined in accordance with the terms of the City's Park Land Fee Ordinance (Ordinance No. 1605) in effect on the Effective Date. Developer acknowledges that the inhabitants of the Project will benefit whether the City elects to apply these funds to the acquisition of parkland or to park and recreational improvements to the development of the Bernal Community Park or any other park requirement designated by the City. Article IV City Obligations. Section 4.01 Protection of Vested Rights. To the maximum extent permitted by law, City shall take any and all actions as may be necessary or appropriate to ensure that the -9-