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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 /> General Plan and the Development Agreement Legislation, and, further, the City Council finds <br /> that the economic interests of City's residents and the public health, 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. City. 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 /> 1.2. 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 ( "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 Approvals. <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 /> 3 <br />