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verification of the property boundary, and prepare a preliminary subdivision plat. Subdivision plat shall be submitted to the Planning Department for Planning Commission review and approval. 5. The parties shall negotiate elevation, architectural design, exterior material, landscaping, open space, and other amenities during the Due Diligence Period. In order to be acceptable to the City, these matters must make a positive contribution to neighborhood quality in the Cradock neighborhood, and the Purchaser shall work in good faith with community representatives and the City Planning Department during this period, for that purpose. The Project shall be market rate "For Sale" residential units. 6. In order to be acceptable to the city an acceptable plan, for relocating the existing community center activities on the Property at no cost to the City must be developed. Purchaser shall work in good faith with community representatives PRHA, and the City, during this period for this purpose. 7. The parties shall negotiate a sales price generally reflecting Fair Market Value during the Due Diligence Period and shall also commence negotiation of a legally binding Sale and Development Agreement that is consistent with this instrument and with all relevant information Development Agreement that is consistent with this instrument and with all relevant information developed during the Due Diligence Period the sale price shall take into consideration the cost of demolition and any needed relocations. The sale and Development Agreement shall contain a mutually acceptable schedule development, with commercially reasonable and mutually acceptable enforcement provisions. An initial proposed development schedule for the project is attached hereto as Exhibit C. -3-