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accordance with the Existing Approvals, subject to the terms a>nd coridvttons contained fn this <br /> Agieetttent, in order to implement the intent of the bounty in ettacttng the 1evelopment <br /> k <br /> Agreement lot:ions K <br /> 4 ' r <br /> RecttalTT Developer has repre1,1­ <br /> seitted�to=Crri#'rxatti +le,otet`oterFt3�, ts'a F t <br /> :yual><l d applicant undex the� pi <br /> evelopi e—h � � p <br /> grA X; s YLxt' 1 ��fiGSi (rt"[attOlf V <br /> appftcatton for and'enter ttto this A e`ment ��t`� that' eb e nc <br /> the Property described iti<:EDeueiope s{ac iowle� ed d�agteead� tatTa�a y <br /> condition of`th. Agreement Developer shall etther're hire the l aider'of_4 0. Security interest >n <br /> the Pioperty to execute and agree to be bound by the terrris of ims'J greernent or tQ cause said <br /> security interest to be retnovel;.as provided'=in Seclian l 3 2 <br /> Recital U. After due review.of and report on Developer's applicattan for flits Ageemerit <br /> by the Community Development Director and other County agencies and departrrients, and <br /> consideration of all other evidence'heard and submitted at a duly not[ced public hearing,.pursuant. <br /> to the Development Agreement Regulations, the Planning Commission found an, determined <br /> that this Agreement is consistent with County's General Plan, Master I'laii, and Public Financing,. <br /> Plan and Specific Plan III and that this Development Agreement complies,with all the provisions <br /> of the Development Title(Title 9 of the Ordinance Code of San Joaquin County). <br /> Recital V. Thereafter on , 2005, the County Board of Supervisors <br /> held a duly noticed public hearing on this Agreement pursuant to the requirements of the <br /> Development Agreement Regulations, found that this Agreement is consistent with County's <br /> General Plan, Master Plan, Public Financing Plan, and Specific Plan III and that this <br /> Development Agreement complies with all the provisions of the Development Title(Title 9 of <br /> the Ordinance Code of San Joaquin County), and introduced the Enacting Ordinance in order to <br /> enact this Agreement as its legislative act. Thereafter, on , 2006, the <br /> Board of Supervisors adopted the Enacting Ordinance enacting this Agreement as its legislative <br /> act. <br /> Recital W. Inasmuch as this Agreement provides for the participation of Developer <br /> directly and through Financing Mechanisms in financing the public improvements required to <br /> carry out the Existing Approvals, this Agreement constitutes a contract, obligation and evidence <br /> of indebtedness within the meaning and scope of Government Code Section 5351 l in that it <br /> provides for a means of satisfying financing obligations for various improvements and facilities <br /> to be owned by or maintained for the benefit of County, the MHCSD and the public generally in <br /> the Community. <br /> w02-SF:FPD\61481 145.2 -6- <br />