Inst 2011 Agmt Wm Mathews Inc - Laserfiche WebLink

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1.5. Definitions. The capitalized terms used in this Development Agreement shall have the meanings set forth in Appendix I attached hereto. ARTICLE 2. DEVELOPMENT OF THE PROPERTY 2.1. Project Development. Developer shall have a vested right to develop the Project on the Property, in accordance with the Vested Elements (defined in Section 2.2). 2.2. Vested Elements. The permitted uses of the Property, the maximum density and/or number of residential units, the intensity of use, the maximum height and size of the proposed buildings, provisions for reservation or dedication of land for public purposes, the conditions, terns, restrictions, and requirements for subsequent discretionary actions, the provisions for public improvements and financing of public improvements, and the other terms and conditions of development applicable to the Property are as set forth in: a. The General Plan of City on the Agreement Date, including the General Plan Amendments ( "Applicable General Plan "); b. The Zoning Ordinance of City on the Agreement Date, including the Zoning Amendment ( "Applicable Zoning Ordinance "); c. Other rules, regulations, ordinances and policies of City applicable to development of the Property on the Agreement Date, except for any and all fees applicable to the development, which shall be vested as set forth in Section 2.6.3 of this Agreement, (collectively, together with the Applicable General Plan and the Applicable Zoning Ordinance, the "Applicable Rules "); and d. The Project Approvals, as they may be amended from time to time upon Developer's consent (such consent to be granted at the sole discretion of Developer) and City's approval of the amendment in accordance with Section 4.4.2 of this Agreement; and are hereby vested in Developer, subject to, and as provided in, the provisions of this Development Agreement (the "Vested Elements "). City hereby agrees to be bound with respect to the Vested Elements, subject to Developer's compliance with the terms and conditions of this Development Agreement. 2.3. Development Construction Completion. 2.3.1. Tinting of Development; Pardee Finding. Because the California Supreme Court held in Pardee Construction Co. v. City of Camarillo, 37 Ca1.3d 465 (1984), that the failure of the parties therein to provide for the timing of development resulted in a later - 5