ORD 1792 - Laserfiche WebLink

L. City and Developer have reached agreement and desire to express herein a Development Agreement that will facilitate development of the Project subject to conditions set forth herein and set forth in the Project Approvals, as defined herein. M. On , 1999, the City Cotmcil adopted Ordinance No. approving this Agreement. NOW, THEREFORE, with reference to the foregoing recitals and in consideration of the mutual promises, obligations and covenants herein contained, City and Developer agree as follows: AGREEMENT 1. Interest of Developer. Developer has a legal or equitable interest in the Property. 2. Effective Date and Term. 2.1 Effective Date. The effective date of this Agreement (the "Effective Date") shall be the date upon which this Agreement is executed by City. 2.2 Term. The term of this Agreement shall commence on the Effective Date and extend ten (10) years, unless said term is otherwise terminated or modified by circumstances set forth in this Agreement. The initial Term has been established by the Parties as a reasonable estimate of the time required to carry out the Project, develop the Subject Property and obtain the public benefits of the Project. City finds that a Term of such duration is reasonably necessary to assure City of the realization of the public benefits from the Project. In establishing and agreeing to such term, City has determined that this Agreement incorporates sufficient provisions to permit City to monitor adequately and respond to changing circumstances and conditions in granting permits and approvals and undertaking actions to carry out the Project. 2.3 Extension of Term Upon Legal Challenge. If any litigation affecting the Subject Property is filed challenging the Existing Approvals (including but not limited to any environmental determinations relating to any of the foregoing), or otherwise raising issues of the validity of the Existing Approvals or the validity and binding nature of this Agreement, the Term of this Agreement shall be extended for the period of time from the date of the filing of such litigation until the conclusion of such litigation by dismissal or final entry of judgment, and the Developer and City shall indicate on this Agreement the period of any such extension and may record a notice to such effect. The extension of time shall not be applicable if the Developer is the plaintiff or petitioner in the litigation, unless a court of competent jurisdiction otherwise approves of same. 2.4 Term of Subdivision Maps, Existinl~ Approvals and Permits. The term of any parcel map, tentative subdivision map, vesting parcel map or vesting tentative subdivision map, any subdivision improvement agreement related to development of the Subject Property or any portion thereof, and all Existing Approvals shall automatically be extended (pursuant to Government Code -3 - 10/2 1/99