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J. The terns and conditions of this Development Agreement have undergone extensive review by the City staff, its Planning Commission, and its City Council at publicly noticed meetings and have been found by the City Council to be fair, just, and reasonable and consistent and in conformance with the City's General Plan and the Specific Plan. Further, the City Council finds that the economic interests of the City's residents and the public health, safety, and welfare will be best served by entering into this Agreement. City has given notice of its intention to adopt this Development Agreement, conducted public hearings thereon pursuant to Government Code 65867 and, on August 28, 2000, adopted Ordinance No. 1815 approving this Development Agreement, which Ordinance became effective on September 27, 2000 (the "Effective Date K. For reasons recited herein, the City and the Property Owner have determined that the Project is a development for which this Development Agreement is appropriate. This Agreement will in turn eliminate uncertainty in planning for and securing controlled and orderly development, consistent with the Growth Management Agreement, installation of necessary improvements, provide for public services as appropriate for the development of the Property, and otherwise achieve the goals and purposes for which the Development Agreement Legislation was enacted. NOW, THEREFORE, it is agreed by the City and Property Owner as follows: ARTICLE 1. PROPERTY AND TERN( 1.1 Property Subiect to this Development Agreement. All of the Property shall be subject to this Development Agreement. The parties intend that the provisions of this Development Agreement shall constitute covenants which shall run with the Property and the benefits and burdens hereof shall bind and inure to all of the successors in interest to the Property and City. 1.2 Term of Agreement. The tetra of this Development Agreement shall commence upon the Effective Date and shall continue in full force and effect for ten (10) years thereafter, so as to accommodate the phased development of the Project, unless extended or earlier terminated as provided herein. If any litigation affecting the Property is filed challenging the Initial Project Approvals (including but not limited to any CEQA determinations and review related to any of the foregoing), any Subsequent Approval, or otherwise raising issues of the validity of the General Plan as it relates to the Property, the Initial Project Approvals or Subsequent Approvals, or the validity and binding nature of this Agreement, the teen of this Agreement shall be extended for the period of time that such litigation has the effect of delaying the ability of Property Owner to implement the Project, or any portion thereof, in a manner and within the time frame contemplated under the Project Approvals. 356901849375v14 4 0825/00