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"Non-Assuming Transferee" shall have that meaning set forth in Section 8.03 of this Agreement. "Notice of Compliance" shall have that meaning set forth in Section 8.04 of this Agreement. "Periodic Review" shall have that meaning set forth in Section 10.03 of this Agreement. "Project" shall have that meaning set forth in Recital D of this Agreement. "Project Approvals" shall have that meaning set forth in Recital F of this Agreement. "Project Site" shall have that meaning set forth in Recital C of this Agreement. "Subsequent Approvals" shall mean those certain other land use approvals, entitlements, and permits other than the Project Approvals that are necessary or desirable for the Project. In particular, as addressed in the EIR, the parties contemplate that Developer will seek approvals for vesting maps and amendments to this Agreement. The Subsequent Approvals may also include, without limitation, the following: amendments of the Project Approvals, design review approvals, improvement agreements, use permits, grading permits, building permits, lot line adjustments, sewer and water connection permits, certificates of occupancy, subdivision maps, rezonings, development agreements, permits, resubdivisions, and any amendments to, or repealing of, any of the foregoing. "Term" shall have that meaning set forth in Section 2.02 of this Agreement. "Transfer Agreement" shall have that meaning set forth in Section 8.02 of this Agreement. ARTICLE 2. EFFECTIVE DATE AND TERM Section 2.01. Effective Date. This Agreement shall become effective upon the date the ordinance approving this Agreement becomes effective (the "Effective Date"). Section 2.02. Term. The term of this Agreement (the "Term") shall commence upon the Effective Date and continue for a period of ten (10) years. ARTICLE 3. OBLIGATIONS OF DEVELOPER Section 3.01. Obligations of Developer Generally. The parties acknowledge and agree that the City's agreement to perform and abide by the covenants and obligations of City set forth in this Agreement is a material consideration for Developer's agreement to perform and abide by its long term covenants and obligations, as set forth herein. The parties acknowledge that many of 54393\84008v3