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DEVELOPMENT AGREEMENT BETWEEN THE COUNTY OF SAN JOAQUIN <br /> AND AERO TURBINE, INC. <br /> THIS DEVELOPMENT AGREEMENT (hereinafter this "Agreement" ) is <br /> entered into this day of , 19 by and <br /> between AERO TURBINE, INC. , (hereinafter "DEVELOPER" ) , and the <br /> COUNTY OF SAN JOAQUIN, a political subdivision of the State of <br /> California (hereinafter "COUNTY" ) , pursuant to the authority of <br /> Sections 65864 et seq. of the Government Code of the State of <br /> California. <br /> RECITALS <br /> A. To strengthen the public planning process, encourage <br /> private participation in comprehensive planning and reduce the <br /> economic risk of development, the Legislature of the State of <br /> California adopted Section 65864 et seq. of the Government Code <br /> (the "Development Agreement Statute" ) , which authorizes the <br /> COUNTY to enter into an agreement with any person having a legal <br /> or equitable interest in real property providing for the develop- <br /> ment of such property and establishing certain development rights <br /> therein. <br /> B. DEVELOPER is a corporation duly organized under the laws <br /> of the State of California, is in good standing thereunder, and <br /> is duly qualified to conduct business in the State of California. <br /> C . DEVELOPER owns fee title to those certain parcels of <br /> land, consisting of approximately seventy-four (74) acres <br /> currently located in the unincorporated portion of the County of <br /> San Joaquin (the "County" ) outlined on Exhibit "A" attached <br />