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existing Exaction, no inoreaee in any existing Exaotion, or the imposition of any new <br />Exaction in connection with the development, construction, use or operation of the <br />Project on the Properly after the Effective Date except as expressly provided in this <br />Agreement. <br /> <br /> AI~REE~IEN? <br /> <br />NOW, 'I'I-IERIEFOI~E, the parlie$ hereto do hereby agree as follows: <br /> <br />The Recitals set forth above are true and correct and are incorporated by reference into <br />this Agreement. <br /> <br />2, <br /> <br />Oapitalized terms used in this Agreement have the meaning given them in this <br />A.clreement or in Exhibit A. <br /> <br /> (a) The term of this A~]reement commences on the Ef~eotive Date, and <br /> terminates on the fifth anniversary of the Effective Date. <br /> <br /> (b) Oity may terminate this Agreement: <br /> <br /> (i) On or after the 8eoond anniversary date of the Effective Date if the <br /> construction within of the Project has not been Substantially Oommenced before <br /> that anniversary date[ and <br /> <br /> (ii) On or after the third anniversary date of the Effeotive Date if Owner has <br /> not Substantially Oompleted the ¢onetru~ion of the I~roject before that <br /> anniversary date. <br /> <br /> -4- <br /> Agmt-450113001 <br /> FXS:dr <br /> o2/(~4/02R~ 02/12102 R <br /> <br /> <br />