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Section 4.07. Density Transfer. The Developer shall have the right to request from City and be issued forty-seven (47) residential building permits for an offsite project or projects as determined by the Developer (each such project, an "Off- Site Project"). The City's issuance of such building permits shall not be subject to the annual limitations set forth in Chapter 17.36 of the City of Pleasanton Municipal Code ("Exempt Permits") but shall be subject to the annual building permit limitations set forth in the City's General Plan . The Developer may only request and receive Exempt Permits for anOff--Site Project or Off-Site Projects for which it otherwise has received approval to construct residential units and the number of Exempt Permits available for any Off-Site Project shall be equal to the number of units approved for such Off-Site Project. The forty-seven (47) Exempt Permits available to the Developer is based upon Developer's agreement herein to construct less than all of the maximum density (ninety-eight (98) units) on the Project Site under the General Plan . Any Exempt Permits not requested by the Developer within five (5) yeazs from the recording of the first final map for the Project shall be forfeited by Developer. Subject to ~ceHe~Section 3.03 Developer may use Exempt Permits to construct for-sale or for-rent units, or any combination thereof. ARTICLE 5. COOPERATION -IMPLEMENTATION Section 5.01. Processing Application for Subsequent Approvals. By approving the PUD Development Plan, City has made a final policy decision that the Project is in the best interests of the public health, safety and general welfaze. Accordingly, City shall not use its discretionary authority in considering any application for a Subsequent Approval to change the policy decisions reflected by the Project Approvals or otherwise to prevent or delay development of the Project as set forth in the Project Approvals. Instead, the Subsequent Approvals shall be deemed to be tools to implement those final policy decisions and shall be issued by City so long as they comply with this Agreement and Applicable Law and are not inconsistent with the Project Approvals as set forth above. Section 5.02. Timely Submittals B,y Developer. Developer acknowledges that City cannot expedite processing Subsequent Approvals until Developer submits complete applications on a timely basis. Developer shall use its best efforts to (i) provide to City in a timely manner any and all documents, applications, plans, and other information necessary for City to carry out its obligations hereunder; and (ii) cause Developer's planners, engineers, and all other consultants to provide to City in a timely manner all such documents, applications, plans and other necessary required materials as set forth in the Applicable Law. It is the express intent of Developer and City to cooperate and diligently work to obtain any and all Subsequent Approvals. Section 5.03. Timely Processing By CitX. Upon submission by Developer of all appropriate applications and processing fees for any Subsequent Approval, City shall promptly and diligently commence and complete all steps necessary to act on the Subsequent Approval application including, without limitation, 54393~84008v3