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7/13/2022 11:42:34 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
7/5/2022
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12 <br /> <br />1.82. “TDM” means the City’s Transportation Demand Management program, as <br />described in Section 3.27 of this Agreement. <br />1.83. “Term” shall have that meaning set forth in Section 2.1 of this Agreement. <br />1.84. “Vertical Improvements” means the construction of buildings, structures <br />(including foundations), landscaping, lighting, streets, sidewalks, curb and gutter, parking areas, <br />stormwater bioretention treatment areas, and other improvements to be constructed or installed <br />on or in connection with the development of the Project. <br />1.85. “Vested Elements” shall have that meaning set forth in Section 4.4(e) of this <br />Agreement. <br />1.86. “Vesting Tentative Tract Map” shall have that meaning set forth in Recital G of <br />this Agreement. <br />ARTICLE II <br />EFFECTIVE DATE AND TERM <br />2.1. Term of the Agreement. The term (“Term”) of this Development Agreement <br />shall commence upon the Effective Date and continue in full force and effect for a period of ten <br />(10) years, unless earlier terminated or extended as provided in this Agreement. The Term has <br />been established by the Parties as a reasonable estimate of the time required to develop the <br />Project and obtain the benefits of the Project. <br />2.2. Extension of Term. The Term may be extended by up to five (5) years upon <br />Developer’s written request and City Manager’s approval in his or her reasonable discretion (the <br />“Extension”), provided (i) this Development Agreement has not been terminated before the <br />initial Term expires, (ii) Developer is in compliance with the terms and conditions of this <br />Development Agreement, the DDA (including all items required by the DDA Schedule of <br />Performance to be complete at such time), and the DDA Implementation Agreements, at the time <br />of the Extension, (iii) Developer has Substantially Completed the construction of all of the <br />attached and detached for sale units in the Single Family Element (including the affordable <br />housing component), (iv) Developer has Substantially Completed the construction of the <br />Multifamily Element, and (v) Developer provides City with written notice of Developer’s <br />request for the Extension at least one hundred eighty (180) days prior to the date the initial Term <br />expires. <br />2.3. Extension of Term Due to Litigation. In the event that litigation is filed by a third <br />party (defined to exclude City and Developer, their respective successors and assigns, or any <br />assignee or transferee of Developer) which seeks to invalidate this Agreement or any of the <br />Project Approvals or Subsequent Approvals, the term of this Agreement shall be extended for a <br />period equal to the length of time from the time a summons and complaint and/or petition are <br />served on the defendant(s)/respondent(s) until the resolution of the matter is final and not subject <br />to appeal; provided, however, that the total amount of time for which the term shall be extended <br />as a result of any and all litigation shall not exceed three (3) years.
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