Laserfiche WebLink
M. The terms and conditions of this Development Agreement have undergone <br />extensive review by City staff, its Planning Commission and its City Council at publicly noticed <br />meetings and have been found to be fair, just and reasonable and in conformance with the City <br />Gener Pl an and t he Development Agreement Legislation, and, further, the City Council finds <br />that the economic interests of City's residents and the public healtih, safety and welfare will be <br />best served by entering into this Development Agreement. <br />NOW, THEREFORE, in consideration of the mutual covenants and promises set forth <br />herein, City and Developer agree as follows: <br />ARTICLE 1. <br />GENERAL PROVISIONS <br />1.1. Parties <br />1.1.1. Cam. City is a California municipal corporation, with offices located at <br />835 East 14th Street, San Leandro, CA 94577 -3767. "City," as used in this Development. <br />Agreement, shall include City and any assignee of or successor to its rights, powers and <br />responsibilities. <br />1.1.2. Developer Developer is a corporation, with offices located at 4725 <br />Thornton Avenue, Fremont, CA 94536 -6408. "Developer," as used in this Development <br />Agreement, shall include any permitted assignee or successor -in- interest as herein provided. <br />L2. Property Subject to this Development Agreement <br />All of the Property, as described in Exhibit A and shown in Exhibit B , shall be subject to <br />this Development Agreement. <br />1.3. Term. <br />1.3.1. Effective Date This Development Agreement shall become effective <br />upon the effectiveness of the ordinance approving this Agreement (the " Effective Date '). <br />1.3.2. Term of the Agreement The term ( " of this Development <br />Agreement shall commence upon the Effective Date and shall continue in full force and effect <br />for a period of ten (10) years, with an option to extend for another five (5) -year term upon review <br />and approval by the Planning Commission, unless earlier terminated as provided in this <br />Agreement. The Term has been established by the Parties as a reasonable estimate of the time <br />required to develop the Project and obtain the benefits of the Project. <br />1.4. Project A royals. <br />Developer has applied for and obtained various environmental and land use approvals <br />and entitlements related to the development of the Project, as described below. For purposes of <br />this Development Agreement, the term " Project Approvals shall mean all of the approvals, <br />plans and agreements described in this Section 1.4. <br />