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space, communip:, park. and extensive trails. The City has conducted its review of <br />this Development Agreement pursuant to the requirements of Government Code <br /> <br />Section 65864 et seq. and. on. .2002. adopted Ordinance <br /> <br />No. approving the Development Agreement. <br /> <br />NOW THEREFORE, it is agreed by the City and Property Owner as follows: <br /> <br />Property Subject to the Development A_oreement: Successors and Assim~s All of <br />the Property shall be subject to this Development Agreement. The parties intend <br />that this Development Agreement shall constitute covenants which shall run with <br />the Property. and its benefits and burdens shall bind and inure to all of the <br />successors in interest to the Property and to the City. <br /> <br />II. <br /> <br />Term. The term of this Development Agreement shall commence upon the date <br />of execution and shall continue in full force and effect for ten (10))'ears <br />thereafter. <br /> <br />III. <br /> <br /> Construction of Improvements. <br /> <br />A. The City shall fund construction of the roadway improvenmnts and <br /> associated utilities shown in Exhibit B (the "Phase I Improvements). The <br /> City shall make good faith efforts to ensure the timely construction of <br /> these improvements insofar as it is within its power to do so. The intent of <br /> <br />Revision #1. Draft Chrisman Development Agreement Page 5 of I3 <br /> <br /> <br />