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Phase Five. This restriction shall toll the time <br /> remaining for use of Phase Four Deferred Permits, which <br /> remaining time shall equal three hundred thirty-five <br /> (335) days less the number of days between the <br /> commencement of Phase Four and the date of the Phase <br /> Four Deferment Notice, with a further adjustment to <br /> take into account any time elapsed in conjunction with <br /> previous deferments as determined pursuant to <br /> subparagraphs (a), (b) and (c). All Phase Four Permits <br /> other than Phase Four Deferred Permits shall expire and <br /> the sewer capacity represented thereby shall revert to <br /> the sole control of the City as of three hundred <br /> thirty-five (335) days following commencement of the <br /> Phase Four use period, except that for any permits <br /> previously deferred the time of expiration shall be <br /> adjusted pursuant to subparagraphs (a), (b) and (c) to <br /> account for the time elapsed, if any, in conjunction <br /> with their previous deferment(s). Notwithstanding the <br /> foregoing, in case of Phase Four Permits which have <br /> been used to obtain building permits, that sewer <br /> capacity shall not revert to the City unless the <br /> building permit expires pursuant to Uniform Building <br /> Codes standards or Owner fails to request a Final <br /> Building Inspection of the basic shell building within <br /> three (3) years after issuance of the building permit. <br /> <br /> (e) Phase Five. Phase Fiveshall be the period <br /> commencing two (2) years after the commencement of <br /> Phase Four. At the commencement of Phase Five, Owner <br /> shall be entitled to use any remaining unused sewer <br /> capacity as needed for the construction of additional <br /> square footage of allowed uses up to the maximum <br /> density approved for the Property ("Phase Five <br /> Permits"). (Phase Four Deferred Permits shall be <br /> considered to be Phase Five Permits as of the <br /> commencement of Phase Five.) The required sewer <br /> capacity shall be based on the sewer coefficients <br /> specified in Section 7 of the First Amendment. Owner <br /> shall also have the option of deferring any Phase Five <br /> Permits to Phase Six by providing written notice to <br /> City ("Phase Five Deferment Notice"). The Phase Five <br /> Deferment Notice may be given at any time on or after <br /> the commencement of Phase Five, and shall specify the <br /> number of Phase Five Permits to be deferred ("Phase <br /> Five Deferred Permits"). As of the date of the Phase <br /> Five Deferment Notice, all Phase Five Deferred Permits <br /> shall again be subject to a restriction against their <br /> use until the commencement of Phase Six. This <br /> restriction shall toll the time remaining for use of <br /> Phase Five Deferred Permits, which remaining time shall <br /> equal three hundred thirty-five (335) days less the <br /> <br />BPHSF6\CJB\0212209.01 <br />01/10/96 3 · <br /> <br /> <br />