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others who may invest tn'the development o f the Pr©perky. Developer intends#o forri an assessment distnct:covenog its property fox the P bse of f r�ancm fihe con t�uc#ton installation and maintenance ofinfirastr�tcture iproventents� St{bect to all the terms o£ttus Agreement(including, but not llmtted to,terxt �gdening a�ss>gmentsd1 , transfers of Developer's interest hereundcr�3 ISeoitr4i =t ; l,,sbdiirc and s 1I he Pro sub�gct to and wttt aztnasst ent o ve" x' i ! Y ;` e f e�� s �at#��toth �`tl �et f to t 6,terms affect#on 1 6 of this . r�oAllt V-ea� zs M e csr-�ira e its ownership interes#a as the:planning;::4 atj! gig att de eldp ertt #he: ropez# is triidertatccn Recital P Developer and,`County desire to�ro�+ide.'the paimeters within which the obligations of Developer;for public and`otlierimprovsments vl+ilt be rrtt, and otherwise to, . provide the criteria-for the planning.aid development of the Property: n order to otlain 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 iri which:particular phases or other portions of the Property will be!developed., and that therate;,timing; order, and sequencing of the development of the Property will depend on:numerous-cireiinstances 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 W02-5 F:FP p16 148 t 145.2 -5-