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SPA Introduction. <br /> SPA Off-Site Traffic Improvements Fund Recital I. <br /> Staples Ranch Project Recital J. <br /> Staples Ranch Specific Plan Amendment Recital K. <br /> Stoneridge Drive Extension Improvements Recital G. <br /> Stoneridge Drive Right of Way Recital H. <br /> Subsequent Approval Section 5.01. <br /> Term Section 2.02. <br /> Zone 7 Section 4.04 <br /> ARTICLE 2. EFFECTIVE DATE AND TERM <br /> Section 2.01. Effective Date. This Agreement shall become effective (the "Effective <br /> Date") upon the latest of the following dates to occur: (i) the effective date of <br /> Resolution No. 10- , adopting the Specific Plan Amendment/Staples Ranch; <br /> (ii) the effective date of Ordinance No. X, adopting the PUD development plan <br /> for the Auto Mall Site; or (iii) the effective date of Ordinance No. Y, adopting <br /> the PUD development plan for Continuing Care Site. The parties specifically <br /> acknowledge that the effective dates of Resolution No. 10- , and Ordinance X <br /> and Y are subject to suspension pursuant to Elections Code, Section 9237. If <br /> Resolution No. 10- „ Ordinance X or Ordinance Y do not become effective, <br /> then the City Manager has no authority to sign this Agreement, this Agreement <br /> shall have no force or effect, no party shall have rights or obligations hereunder, <br /> and none of the entitlements contemplated in this Agreement shall vest <br /> hereunder, regardless of whether the ordinance adopting this Agreement becomes <br /> effective. If, however, Resolution No. 10- , Ordinance X and Ordinance Y all <br /> become effective, then the City Manager shall sign this Agreement and the <br /> entitlements contemplated by this Agreement shall be deemed vested as of the <br /> effective date of the ordinance adopting this Agreement. Pursuant to Section <br /> 65865 of the Development Agreement Statute, this Agreement shall not become <br /> operative unless annexation proceedings annexing the Project Site to City are <br /> completed. If such proceedings are not completed within one year after the <br /> Effective Date, this Agreement shall become null and void unless SPA at its sole <br /> discretion agrees to an extension. If such proceedings are completed within one <br /> year after the Effective Date, this Agreement shall become operative. <br /> Section 2.02. Term. The term of this Agreement (the "Term") shall commence upon <br /> the Effective Date and continue for a period of 10 years following the date this <br /> Agreement becomes operative pursuant to Section 2.01, above. <br /> 7 <br />