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bject to the terms and condition:,conte aind rr this- accordance with theExrsftng Approvals, su Agreement, in order to. iiiplerrient the intent`of theCvunty in enacting the IDevelopment Agreement Regulations: 3 kg j z a Rewtal T Developer has repres° nxed`sty Co itt t that if t fihe�o tier oM.U.+0K r 1j t �* gaaltlied apphcant..im r the I?e�eloP hent �l lalton rtd appticatl<on for attd'enter into this Agr9ernentt}atfa ,� �tr' p ttncum etcrvtiv f thePropert}c described tn' Exlnbit A 2 Devetop p' as a io l ged a tl'c ,a eed at as a. conditicin of thrs Agreement Develope r sltali'either require the lidtders o€any seer mY-10 terest in the Property to execute�and agree to be bound by''the=6er, is of ties Agreement yr to cause sard security interest to be removed; as prdvtdsrd;n Sefton 1 3 2 Recital U. After due review of and report on Developer's application for::thisAgreement by the Community Development Director and other County agencees and departments,:and consideration of all other evidence-heard and subi iltted.'at a duly noticed public heanng:pursuan to the Development Agreement Regulations, the Planning Commission found and:deterinined that this Agreement is.consistent with County's Generat Pian, Mal 4er.Plan; and:Puhlic Financing,. Plan and Specific Plan III and that this Development Agreement complieswith all the provisions of the Development Title (Title 9 of the Ordinance:Code of San Joagiiin County). Recital V. Thereafter on , 2006, the County Board of Supervisors held a duly noticed public hearing on this Agreement pursuant to the requirements of the Development Agreement Regulations, found that this Agreement is consistent with County's General Plan,, Master Plan, Public Financing Plan, and Specific Plan III and that this Development Agreement complies with all the provisions of the Development Title(Title 9 of the Ordinance Code of San Joaquin County), and introduced the Enacting Ordinance in order to enact this Agreement as its legislative act. Thereafter, on , 2006, the Board of Supervisors adopted the Enacting Ordinance enacting this Agreement as its legislative act. Recital W. Inasmuch as this Agreement provides for the participation of Developer directly and through Financing Mechanisms in financing the public improvements required to carry out the Existing Approvals, this Agreement constitutes a contract, obligation and evidence of indebtedness within the meaning and scope of Government Code Section 53511 in that it provides for a means of satisfying financing obligations for various improvements and facilities to be owned by or maintained for the benefit of County, the MHCSD and the public generally in the Community. W02-5F:FPD161481145.2 —6—