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measures were mutually agreed upon by City and Owner so as <br /> <br />to avoid potential significant adverse impacts; and <br /> <br /> WHEREAS, mitigating measures included (1) financial <br />participation by Owner in certain studies and (2) agreement <br />to participate in assessment districts or other funding <br />mechanisms for certain improvements; and <br /> <br /> WHEREAS, the studies required are currently underway, as is <br />preliminary work on various assessment districts designed <br />to implement the mitigation measures, but the final cost and <br />method of allocating the cost among several projects has not <br />yet been determined, it being the City's desire to sDread the <br />total cost of the studies fairly among participating projects; <br />and <br /> <br /> WHEREAS, Owner or its successors desire to secure sub- <br />division approval and building permits for the Droject as soon <br />as possible, prior to the completion of, and determination of the <br />financing of, the studies and improvements required; and <br /> <br /> ~tEREAS, certain conditions of approval of the PUD require <br />Owner and City, prior to approval of a subdivision maD, to <br />enter agreement concerning certain noise mitigation measures <br />to be made in the future and concerning certain safeguards for <br />City; and <br /> <br /> WHEREAS, City may adequately protect its interest in <br />securing payment for the various studies and improvements <br />through this agreement and finds that it is in the public <br />interest to allow Owner to proceed in advance of their completion. <br /> <br /> NOW, THEREFORE, City and Owner hereby agree as follows: <br /> <br />-2- <br /> <br /> <br />