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<br /> 15 <br /> <br /> <br />seismic requirements, or should the buildings located within the Project become functionally <br />outdated, within Developer’s sole discretion, due to changes in technology. Any such renovation <br />or rebuilding shall be subject to the Vested Elements, shall comply with the Project Approvals, <br />the building regulations existing at the time of such rebuilding or reconstruction, and the <br />requirements of CEQA. <br />ARTICLE 3. <br />ANNUAL REVIEW <br />3.1. Annual Review. The annual review required by California Government Code <br />Section 65865.1 will be conducted for the purposes and in the manner stated in those laws as <br />further provided herein. As part of that review, City and Developer shall have a reasonable <br />opportunity to assert action(s) that either Party believes have not been undertaken in accordance <br />with this Development Agreement, to explain the basis for such assertion, and to receive from <br />the other Party a justification for the other Party’s position with respect to such action(s), and to <br />take such actions as permitted by law. The procedure set forth in this article shall be used by <br />Developer and City in complying with the annual review requirement. The City and Developer <br />agree that the annual review process will review compliance by Developer and City with the <br />obligations under this Development Agreement but will not review compliance with other <br />Project Approvals. <br />3.2. Intentionally omitted. <br />3.3. Commencement of Process; Developer Compliance Letter. <br />At least fifteen (15) days prior to the anniversary of the Effective Date each year, <br />Developer shall submit a letter to the Director of City’s Community Development Department <br />demonstrating Developer’s good faith compliance with the material terms and conditions of this <br />Development Agreement and shall include in the letter a statement that the letter is being <br />submitted to City pursuant to the requirements of Government Code Section 65865.1. <br />3.4. Community Development Director Review. <br />Within thirty (30) days after the receipt of Developer’s letter, the Community <br />Development Director shall, acting in good faith, review Developer’s submission and determine <br />whether Developer has, for the year under review, demonstrated good faith compliance with the <br />material terms and conditions of this Development Agreement. If Developer has demonstrated <br />good faith compliance, than the Community Development Director shall make such a finding <br />and send a letter back to Developer describing the Community Development Director’s finding <br />and any comments. <br />3.5. Community Development Director Noncompliance Finding. <br />If the Community Development Director, acting in good faith, finds and determines that <br />there is substantial evidence that Developer has not complied in good faith with the material <br />terms and conditions of this Development Agreement and that Developer is in material breach of <br />this Development Agreement for the year under review, the Community Development Director <br />shall issue and deliver to Developer a written “Notice of Default” specifying in detail the nature