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space. community park. and extensive trails. The City has conducted its review of <br /> this Development Agreement pursuant to the requirements of Government Code <br /> Section 65864 et seq. and. on. 2002. adopted Ordinance <br /> No. approving the Development Agreement. <br /> NOW THEREFORE. it is agreed by the City and Property Owner as follows: <br /> I. Property Subject to the Development Agreement: Successors and Assigns. All of <br /> the Property shall be subject to this Development Agreement. The parties intend <br /> that this Development Agreement shall constitute covenants tvhich 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 /> II. 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) years <br /> thereafter. <br /> 1II. Construction of Improvements. <br /> A. The City shall fund construction of the roadway improvements 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 /> Revision 141. Draft Chrisman Development Agreement Page 5 of 13 <br />