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6.B. - Page 37 of 117 <br />to cover City's actual costs of processing the Foregoing. <br />"Project" is defined in Recital C. <br />"Project Approvals" means the Existing Approvals and, when and as approved in <br />accordance with the terms of this Agreement, the Subsequent Approvals. <br />"Property" is defined in Recital B. <br />"Public Improvements" is defined in Section 3.13. <br />"Severe Economic Recession" is defined in Section 4.2E. <br />"Subdivision Improvements Agreement" is defined in Section 3.12. <br />"Subsequent Approvals" is defined in Section 10.1. <br />"Term" is defined in Section 4.2A. <br />"Tide Gate Payment " is defined in Section 3.11. <br />"Trail Easement" is defined in Section 3.2. <br />"Trail Parcel" is defined in Section 3.2. <br />"Transfer" is defined in Section 11.1. <br />"Transportation Improvement Impact Fee" means the City's Transportation <br />Improvement Fee paid under Municipal Code Chapter 18, Article XV by developers of <br />development project to mitigate the cumulative impacts of traffic generated by new development. <br />"Water Tank Payment" is defined in Section 3.5. <br />ARTICLE 2. GENERAL PROVISIONS <br />Section 2.1 Ownership of Property. The Parties hereby acknowledge that, as of the <br />Effective Date, Developer has a legal and/or equitable interest in the Property. <br />ARTICLE 3. PUBLIC BENEFITS <br />Section 3.1 Public Benefits Obli atg ions. In consideration of the rights and benefits <br />conferred by City to Developer under this Agreement, Developer shall perform and provide the <br />specific public benefits and Exactions described in the Existing Approvals and in this ARTICLE <br />3, some of which may exceed the dedications, conditions, and exactions that City may impose <br />under Applicable Law. <br />Section 3.2 Trail Easement and Bay Trail Improvements. Developer shall create an <br />approximately 0.9 acre "Trail Parcel" along the northern waterfront edge of the Property as shown <br />14 <br />OAK 44843-388 -9090 01 <br />AM/AGR/2018.094/STRADA DEVELOPMENT AGREEMENT <br />REV: 07-27-18 VR <br />Page 14 of 94 <br />45 <br />