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predecessor to the District, and various parties owning property <br />within the jurisdiction serviced by the District (as subsequently <br />amended, the "Settlement Agreement ") and IDursuant to the various <br />orders and judgments issued concurrent therewith and subsequent <br />thereto by the Alameda County Superior Court in connection with <br />CaseNo. 423134. The Original Capacity has been substantially <br />consumed in connection with the existing development comprising <br />the Stoneridge Project. <br />C. The parties desire to enter into this Agreement for the <br />purpose of (1) confirming that portion of the Original Capacity <br />remaining for purposes of future development in the Stoneridge <br />Project, (2) setting forth the rights and limitations with respect <br />tothe usage of such remaining portion of the Original Capacity, <br />and (3) agreeing upon a staged deferment of future development of <br />that portion of the Center currently owned by Properties. <br />D. It is in the best interests of both. the City and Properties <br />that this Agreement be entered into in order to facilitate and <br />promote the most advantageous scope and timing of the remaining <br />future development within the Stoneridge Project. <br />NOW, THEREFORE, in consideration of the foregoing and the <br />mutual covenants and agreements contained herein, the City and <br />Properties hereby agree as follows: <br />1. Stoneridge Entitlement to Original Capacity. <br />a) The City and Properties acknowledge and agree <br />that, by virtue of the substantial development that has been <br />completed within the Stoneridge Project and in order to assure <br />that the Center will be constructed as planned, it is their <br />interpretation that, under the Settlement Agreement, Properties' <br />2-