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improvements; the general location of public utilities; and other terms and conditions of <br /> development applicable to the Project, shall be as set forth in the Project Approvals and, as and <br /> when they are issued(but not in any limitation of any right to develop as set forth in the Project <br /> Approvals), the Subsequent Approvals (defined below). <br /> Section 2.03. Applicable Law. "Applicable Law" shall mean the existing rules, regulations, <br /> official policies, standards and specifications governing permitted uses of the Project Site, <br /> governing density, and governing the design, improvements,the City's Residential Growth <br /> Management Program(as set forth in Chapter 17.36 of the Pleasanton Municipal Code) <br /> applicable to the Project as set forth in this Agreement and the Project Approvals, and in force <br /> and effect on the Effective Date, except if permitted or conditionally permitted uses in the R-1 <br /> district are subsequently modified in the Pleasanton Municipal Code, such modifications shall <br /> apply to the Project. The parties acknowledge that the Project has entered into a Growth <br /> Management Agreement which is a vested element in this Agreement. <br /> Section 2.04. Moratorium, Initiatives and Conflicting Enactments. To the extent consistent with <br /> state law(and excepting a declaration of a local emergency or state emergency as defined in <br /> Government Code § 8558), if any ordinance, resolution or other measure is enacted subsequent <br /> to the Effective Date, whether by action of City, by initiative, referendum, or otherwise,that <br /> imposes a building moratorium, a limit on the rate of development, or a voter-approval <br /> requirement which would otherwise affect the timely development of the Project on all or any <br /> part of the Project Site ("City Law"), City agrees that such ordinance, resolution or other <br /> measure shall not apply to the Project,this Agreement,the Project Approvals, or the Subsequent <br /> Approvals, if any, during the Term. <br /> Section 2.05. Life of Project Approvals or Subsequent Approvals. The term of any Project <br /> Approval or Subsequent Approval shall automatically be extended for the longer of Term of this <br /> Agreement or the term otherwise applicable to such Project Approval or Subsequent Approval if <br /> this Agreement is no longer in effect. The Term of this Agreement, any other Project Approval <br /> or Subsequent Approval shall not include any period of time during which any applicable <br /> development or utility moratorium, lawsuit or the actions of other public agencies that regulate <br /> land use, delays construction of the Project. <br /> Section 2.06. Development Timing. Subject to Applicable Law, including the Growth <br /> Management Agreement, Developer shall have the right to develop the Project in such order and <br /> at such rate and at such times as Developer deems appropriate within the exercise of its <br /> subjective business judgment. <br /> Section 2.07. Compliance with State and Federal Law. This Agreement is subject to <br /> Developer's compliance with all applicable federal and state laws and regulations and <br /> compliance with the California Environmental Quality Act, Public Resources Code <br /> § 21000 et seq. ("CEQA"). <br /> Article III Developer Obligations. <br /> Section 3.01. Obligations of Developer Generally. The parties acknowledge and agree that the <br /> City's agreement to perform and abide by the covenants and obligations of City set forth in this <br /> 4 of 10 <br />