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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 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 Ciry. <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 />III. 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 insofaz as it is within its power to do so. The intent of <br />Revision #1, Draft Berlogar Development Agreement Page 5 of 13 <br />