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Project Approval or Subsequent Approval if this Agreement is no longer in effect. The Term of <br /> this Agreement, any other Project Approval or Subsequent Approval shall not include any period <br /> of time during which any applicable development or utility moratorium, lawsuit or the actions of <br /> other public agencies that regulate land use, delays the granting of any Subsequent Approval or <br /> the development of the Project. <br /> Section 2.6 Development Timing <br /> Subject to Applicable Law, including the GMA, Developer shall have the right to <br /> develop the Project on the Project Site in such order and at such rate and at such times, if any, as <br /> Developer deems appropriate within the exercise of its subjective business judgment. <br /> Section 2.7 Compliance with State and Federal Law <br /> This Agreement is subject to Developer's compliance with all applicable federal <br /> and State laws and regulations and compliance with applicable provisions of the California <br /> Environmental Quality Act, Public Resources Code sections 21000 et seq. ("CEQA"). <br /> ARTICLE 3 <br /> Developer Obligations <br /> Section 3.1 Obligations of Developer Generally <br /> The parties acknowledge and agree that City's agreement to pert orm and abide by <br /> the covenants and obligations of City set forth in this Agreement is a material consideration for <br /> Developer's agreement to perform and abide by its long term covenants and obligations, as set <br /> forth herein. The parties acknowledge that many of Developer's long term obligations set forth <br /> in this Agreement are in addition to Developer's agreement to perform all the mitigation <br /> measures identified in the MMRP and specifically applicable to the Project Site. <br /> Section 3.2 Development Impact Fees <br /> Except as otherwise specifically set forth in this Article 3 or otherwise herein, <br /> Developer shall only pay to City those legally enforceable development impact fees and <br /> exactions which are in effect as of the Effective Date. A complete list of these applicable <br /> development impact fees and exactions is attached as DA Exhibit C. Developer may elect to <br /> defer certain fees consistent with City's Fee Deferral Program in force and effect as of the <br /> Effective Date, a copy of which is attached as DA Exhibit D. Further, in the event Developer <br /> applies for multiple grading or building permits covering portions or phases of the Project, <br /> Developer shall only pay those development impact fees (or prepare such stud) or studies) <br /> applicable to the portion or phase of the Project covered by the issued permit. However, during <br /> the Term of this Agreement, except as specifically set forth in this Agreement or the Project <br /> Approvals, Developer shall pay those periodic cost of living or similar indexed increases, <br /> decreases or adjustments to such fees and exactions as are applicable and in effect at the time <br /> such fees or exactions would otherwise be payable to City. <br /> Section 3.3 Traffic Mitigation Measures; Traffic Impact Fees <br /> 65453\4242646v3 5 <br />