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= whq"may invest�nthe developran met distract cbvertn ra ert fob theubs of fnanetg the corfstructl<on, g P P . y mstaliation and maintenance of infrastructure ttnro�emc>gts Subjecci t to all thtertns of taus Agreement(including, but not 1#m�t 'to, tes�goerri{nssients and transfers of i I�ev�loper's nteret3hereundr) Decel+�pe � 'tore' �e�1, sb %�do adl � tiro qty ect to wind with rat a j��'f f subj art assn , tis" nt#txa ork S ect` i to the Corms ofaSeclfcn t gree ent, �P r lay tai t vesture 6 ieatgatuze its f ow#tership interests as the'planning, fiancin ai�d {ee1Qecttf th , 'ropertis irndeiEken ;. r Rectal P Developer and Countydes><re to pravide'the patameters with1q rvh)clt obltgatxons of Developer for public and otl�ernmprdvertrents will be,>�ne , and`atherwtse to.> prov><de the criteria-for the planning'and dvPr.tbtairyon the foregoing benefits. Recital The Parties acknowledge=that Developer cannot accurately:predict the,time schedule-within which the Property will be:developed or,the order ori which particular phases or other:portions of the.Property will be-developed;and that the rate,timing, order, And sequencing of the development of the Property will depend on nirous•cir."curnstartces.beyond Developer's control, including, without limitation,market trends, demand, the condition of capital markets, interest rates, availability of financing and other economic and non-economic factors. Recital R. This Agreement is voluntarily entered into by Developer in order to implement the Existing Approvals and in consideration of the rights conferred and the procedures specified herein for the development of the Property. This Agreement is voluntarily entered into by County in the exercise of its legislative discretion in order to implement the Existing Approvals and in consideration of the agreements and undertakings of Developer hereunder. County and Developer recognize and agree that but for Developer's contribution to and participation in programs to mitigate the impacts of the development of the Property and the cumulative impacts of the development of the Community, County would not approve the development of the Property as contemplated by this Agreement. County's approval of the development of the Property as contemplated hereunder is in reliance upon and in consideration of Developer's agreements to make contributions, assume obligations, and be subject to the restrictions referred to in this Agreement to mitigate the impacts of the development of the Property and the cumulative impacts of the development of the Community. 'Recital S. For these reasons, County has determined that this Agreement is appropriate in order to achieve the goals and objectives of the County's land use planning policies and to provide appropriate assurances to Developer regarding its ability to proceed with necessary subsequent actions leading to the development of the Property. This will in turn eliminate uncertainty in planning for and secure orderly development of the Property, assure progressive installation of necessary improvements and provision for public services appropriate to each stage of development of the Property, insure attainment of the maximum effective utilization of resources within the County at the least economic cost to its citizens, and otherwise achieve the goals and purposes for which the Development Agreement Regulations were enacted by County. In exchange for these benefits to the County, Developer desires to receive the assurance that it may proceed with necessary subsequent actions leading to the development of the Property in W02-SF:FPM61481145 2 -5-