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(o.IB-Ilv <br /> Section 1. Inco*poration of Recitals. The Agency <br /> and the Developer agree that the recitals set forth above are true <br /> and correct and the same are hereby incorporated by this reference <br /> into the body of this Agreement. <br /> SeCtion 2. $xc1_usive Necotlatlon. <br /> a. The Agency and the Developer hereby agree <br /> during the Term (as defined hereinafter) of this Agreement, and <br /> subject to the terms and conditions hereof, to negotiate in good <br /> faith a Disposition and Development Agreement ("DDA") for the <br /> development by the Developer of the Project on the Habitat Parcel. <br /> The Agency agrees that it will not negotiate with any other <br /> developer for development of the xabitat Parcel during the Term. <br /> The Agency will not solicit proposals from other developers with <br /> respect to the Habitat Parcel during the Term. <br /> b. The exclusivity granted by the Agency in this <br /> Agreement is as to the Habitat Parcel, and the Agency reserves the <br /> right to engage in discussions or negotiations, or to finalize <br /> agreements, with other parties for projects, including similar or <br /> competing projects, on other sites. <br /> Section 3. Neaotiations. <br /> The Agency and the Developer agree to negotiate during <br /> the =e=m ir. order to determine the feasibility of the Project, and <br /> if the Project is initially determined to be feasible, to negotiate <br /> the :erms of a DDA concerning the development of the Project on the <br /> ::a�it�t Pa�cel, subject to the approval of the Board of the Agency <br /> a::d. to the rules, regulations and laws governing the activities of <br /> �ne Agen�y. The parties to this Agreement acknowledge and agree <br /> �nGt (i) the Agency will be negotiating with First Community for <br /> the develo�ment of the First Community Parcel, which negotiations <br /> shGll not be deemed to be prohibited by this Agreement, (ii) the <br /> =.��acy will not enter into a DDA with either the Developer or First <br /> :�mmu��:ity unless it reaches DDA's acceptable to the Agency with <br /> ti�*_h, ar.d (iii) both DDAs will provide that the close of escrow for <br /> *_ne traasfer of either parcel of the Property is conditioned or. the <br /> simultaneous close of escrow for both parcels. A determination <br /> ±ha*_ either the Project or the First Community Project is not <br /> feasible shall constitute a determination that both the Project and <br /> tne First Community Project are not feasible. <br /> 2 <br />