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others who mayinvest;in the development oft.he Property: Developer intends to form an assessment district covering its propert y dor ttie u bse Uri the constrigt�on, installation and maintenance of iz�frastruct e:�tnpraveptentsti Sublet to all tliekt M of this ti Y Agreement{including, but not lttritted to,terxaernittgssigetits and transfers of Devloper's'iterest hereunder ;Deelbpitrxe tore peel; s b94v�de d� oitit M. h�;Property siib�e¢t to aid with,a[nasgnrnetir+dfl7 } lc � � os�i> iethretltenoaotlters ttf[ t to the,terms of Section F of tht Aeceieiit; ev� ieriin` �tnitve `tte ot£�rearaxiize' owhershrp interests as the,planning, firanctn aid lopi�tient bf theropert +is undertaken - Recital P: Developer Anil County desire to providc`'the parameters within which the {' obligaft.ons of Developer for:public aril othernmpfroYeitne is 11 be mot, artd`vtherwtse to. provide the criteria for the planning and development of the Property lin order to obtain-tt e' foregoing benefits. Recital Q. The Parties acknowledge that Deve.loper.canr of accurately predict.the.time schedule within which the Property will"be developed;or the order iri which`particular phases or other portions of.the,Property will be-developed., Arid that the rate,-tuning, order, and sequencing of the development of the Property wilt depend on numerous•-circumstances beyond Developer's control, including, without limitation,market trends,E'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 WQ2-$F:FPD\61481145.2 -5-