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7C Page 226 (b) Certain Matters Covered bv�Pzecise Plan. The(1)permitted uses of the Property, (2) density, intensity, rate and tzming of development; (3) design, irnpxovement, and construction standards and specifications, with respect to height and size ofproposed buildings and other matters; and (4)provisions for reservation or dedication of land for public purposes for the Project, shall be those identified in the Precise Plan. (c) Dedi.cation Requir.ements, Exactions and Fees. During�11e Term,the City dedication require�nents, exactions and fees {each a"IVleasure"), including without limitation processing and inspection fees, development impact fees and measures to mitigate enviroi�ne��tai impacts mentioned in the EIR and E[R Addendum, applicable t�the Project shall be those in effect as of tlie Effective Date, modifed only by Measures which either are specifically identified in the Precise Plan or which apply, on a basis which does not discriminate against the Property or the Project,to at least three(3) other sites within the City, and either: (i) wl�ose effect is to applyr to tl�e Project an adjustment of the asnaunt or rr�agnitude of a fee or other exactiou existing on the Effecti.ve Date; or(ii)which mitigate an impaet af tlae Project that either was not identified in�he EIR or the Precise Plan, or was identi�ed but for which no mitigation measure was described or adopted; and further provided that credit is a�ailable to the"Developer, when appropriate, for public improvements completed or to be completed by the Developer at the Developer's expense(e.g., if Developer constructs or installs public improvements that serve a wider geographic area than the Property itsel�. (d} Timin�ofDevelopment. Developer shall have the right to develop the Project at such tin�e or times prior to the expiration of the Tertn as Developer deems appropriate within the exercise of its good faith business judgment,provided that the 1'roject is developed substantially in compIiance with aaiy timin.g provisions of the Precise Plan and the provisioiis of this Agreement. Since the Califarnia Supreme Court held that the failure of the parties in Pardee Cortstruction Co. v. City of Camarillo, 37 Cal.3d 465 (1984),to provide for the timing of development resulted in a later-adopted initiative restrieting the timuig of development and conirolling the parties' agreement, it is the express uztent of City and Developer that Develaper have the right to develop the Project at such rate and times prior to the expiration of the Term as Devcloper deems appropriate,provided that development is consistent with the express terms of this Agreement and fihe Precise Plan. City acknowledges th.a! such a right is consistent with the intent,purpose and understanding of the Parties to this Agreement, and that withaut such a righ±, Developer's development of the Project would be subject to the uncertainties sought to be avoided by th.e Government Code Section 65864 et seq. and this Agreement. Tl�e Parties acic..nowledge tl�at thi.s Agreement contains no requiren�ent that Developer must complete developinent of the Project or az�y pliase thereof, or development of the Property ar any portion thereof within the Term of this Agreement or within any particular time period, and tl�at this Agreement confers upon Developer tl�e right, but not the abligation to construct the Project in accardance with the Precisc Pla�� and this Agreement. (e} Initiative and Referendum. If durialg the Term any City Law, including without limitation az�y moratorium or oiher limita�io�1 (whether relating to the rate,tiining,phasing or sequenci�lg of development affecting subsequent maps,building permits or other entitlements to use that are approved or to be approved, issued flr granted within the City, or portions of th.e I025843-6 5 DF2AFT 12J12/07 3:00 PM