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<br />IV <br />Project Parameters <br /> <br />A. The project to be constructed on the Property (the "Modified Project") shall be <br />modified from an earlier construction project proposed for the Property by Bobcat Investors, Ltd. <br />as described in Exhibit D to conform to the five (5) following items: <br /> <br />1. Reduction of the Project by 1 floor <br /> <br />a. One (1) residential floor from the Bobcat Investors, Ltd. proposal will be <br /> <br />removed. <br /> <br />b. The Modified Project will have two (2) levels of commercial frontage and <br />six (6) floors of residential living quarters for a total of eight (8) floors above street level on the <br />north side at N. LBJ Drive. On the Guadalupe Street side (south) there will be one (1) floor of <br />commercial frontage and six (6) floors of residential living quarters for a total of seven (7) floors <br />above street level. Parking shall be accessed at street level and shall be provided in areas below <br />grade on the Property. <br /> <br />2. Number of Bedrooms and Residents <br /> <br />The maximum total number of residential units and bedrooms in the Modified Project will be as <br />follows: <br /> <br />Units 2 BRll BA 3 BRl2 BA 4 BRl2 BA Total Bedrooms <br />Floor I 2 2 15 70 <br />Floor 2 2 2 17 78 <br />Floor 3 2 2 17 78 <br />Floor 4 2 2 17 78 <br />Floor 5 2 2 17 78 <br />Floor 6 2 2 17 78 <br />Total Units 12 12 100 460 <br /> <br />Each bedroom in the Modified Project will be rented or leased for occupancy by no more than one <br />person, as depicted on the representative floor plan for the Modified Project submitted by 3D/l <br />Architects (Dan Alexander), dated June 18, 2003 and attached to this Agreement as Exhibit A and <br />incorporated herein. <br /> <br />3. Square Footage of Commercial Area <br /> <br />The Modified Project will contain a maximum of27,000 gross square feet (GSF) of commercial <br />area on two (2) floors. <br /> <br />- 7 - <br />