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LINT k\IURE LEASING PRACTICES Memorandum of Understanding - If the City and the Applicant reach agreement on key terms and conditions,the Applicant shall: (a) sign a Memorandum of Understanding(MOU) with the City outlining the key terms and conditions,and(b)pay an earnest money deposit in cash or letter of credit to the City in the amount equivalent to the rents, fees, and other charges (total compensation) for the first month of the Agreement or one thousand dollars ($1,000), whichever is greater— as evidence of the Applicant's good faith to enter into an Agreement with the City.The signed MOU shall be presented for consideration to the City Council.The City Council may either reject the MOU in accordance with Section 2.9 or authorize the City Manager to negotiate and execute an Agreement with the Applicant. If an MOU is not executed by the City Council and the Applicant within sixty (60) calendar days of reaching agreement on key terms and conditions which includes an earnest money deposit, the City is not obligated to lease Airport land and/or Improvements to the Applicant and the earnest money(if provided) shall be returned to the Applicant,without interest. Once the MOU is executed by the parties and earnest money deposit received, the Applicant shall submit five copies of the Concept Plan(in accordance with Section 5.1)to the City within forty-five(45)calendar days. The City shall review the Concept Plan and address all preliminary questions or concerns with the Applicant. The Applicant shall be required to meet with the City to present and discuss the Concept Plan. Upon acceptance of the Concept Plan(as applicable)or upon execution of the MOU, an Agreement shall be prepared by the City for review by the Applicant. Once the Applicant executes the Agreement, the Agreement shall be presented to City Council for execution. If the Applicant does not execute the Agreement within thirty(30)calendar days of receiving the Agreement,the earnest money deposit shall be forfeited by the Applicant to the City. When the City indicates intent to execute the Agreement,the Applicant shall pay a security deposit in the form of cash or a letter of credit—in the amount equal to twenty-five percent(25%) of the rents, fees, and other charges(total compensation)for the first year of the Agreement or two thousand five hundred dollars ($2,500),whichever is greater—to the City. The earnest money shall be applied to the security deposit. s If the Applicant does not pay the security deposit to the City, the Agreement shall not be executed by the City and the security deposit shall be forfeited by the Applicant to the City. y if City Council does not execute the Agreement, the security deposit shall be returned to the Applicant,without interest,within thirty(30)calendar days. Upon execution of the Agreement,Applicant shall submit one original and four copies of the Development Plan (in accordance with Section 5.2) within sixty (60) calendar days unless otherwise extended at the sole discretion of the City. Following approval of the Concept Plan and prior to applying for a building permit, the Applicant shall apply to the City for all applicable Planning Entitlements by providing the following documents: ➢ A completed Planning General Application for all applicable Planning Entitlements and applicable fees as set for in the City's Master Fee Schedule,and Additional documents listed in the City's Plan Set Requirements for Planning Applications handout as applicable. Following approval of all applicable Planning Entitlements and prior to applying for a building permit,the Applicant shall deliver to the City within sixty(60)calendar days: Leasing and Development Policy(DRAFT FOR DISCUSSION PURPOSES ONLY) 6 City of Livermore, Livermore Municipal Airport(0 12212023)