CHANGES IN UNIT COUNT. In the event that the Developer elects to meet its Affordable Housing Obligation with the use of incentive credits as outlined with the Guidelines to the Balanced Communities Policy, as adopted by City Council Resolution 2012-182, the Affordable Housing Obligation shall be adjusted in the manner identified in the Balanced Communities Policy. The adjustment to the Affordable Housing Obligation shall be an administrative act and not require an amendment to this Agreement.
CHANGES IN UNIT COUNT. Upon issuance of an SMA Permit or building permit for an Approved Development Plan for either of Lot 4 or the Property after Closing, or upon any amendment or termination of the Lot 4 Unit Count Declaration, as referenced in subsection 4(a)(i) above, after Closing, an adjustment will be made by NB 3 and Optionee to the Purchase Price paid at Closing if and to the extent applicable based upon a recalculation of the Base Price pursuant to subsection 4(a)(i) above and the then-current Maximum Unit Count resulting from such Approved Development Plan or such amendment or termination. If, based upon any such recalculation, the Base Price is greater than the Base Price used to determine the Purchase Price at Closing, Optionee shall pay to NB 3, upon demand of NB 3, an additional amount equal to the increase in Base Price (adjusted in accordance with subsection 4(b)(i) above). Optionee shall give written notice to NB 3 promptly upon each issuance of an SMA Permit or building permit for an Approved Development Plan for Lot 4 or the Property, and promptly upon any amendment or termination of the Xxx 0
