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ATT...,,..�.,T„ 7.A. - Page 149 "TDM"is defined in Section 3.4. "Tentative Map" means a map created for the purposes of subdividing land pursuant to the Subdivision Map Act. "Term"is defined in Section 13.1. "Total Gross BuildingArea" means the total amount of square footage of any building area on the Property, whether such building is newly constructed or present on the Property as of the Effective Date. "Water Tank Contribution"is defined in Section 3.6. 1.2 Effective Date. The Effective Date of this Agreement shall be the later of(i) the date that is thirty (30) days after the date that the Enacting Ordinance is adopted and (ii) the date this Agreement is fully executed by the Parties. The Effective Date is inserted at the beginning of this Agreement. The Parties acknowledge that section 65868.5 of the Development Agreement Statute requires that this Agreement be recorded with the County Recorder no later than ten (10) days after the City enters into this Agreement, and that the burdens of this Agreement shall be binding upon, and the benefits of this Agreement shall inure to, all successors in interest to the Parties to this Agreement. 1.3 Basic Term. Except as to those obligations that expressly extend beyond the stated Term of this Agreement, the "Term" of this Agreement shall commence as of the Effective Date and shall continue for the Initial Term as defined in Section 1.3.1 plus the duration of any City- approved extensions as provided in Section 1.32 below, or until earlier terminated by mutual consent of the Parties or as otherwise provided by this Agreement. 1.3.1 Initial Term of A�reement. The "Initial Term" of this Agreement shall be 10 years, commencing on the Effective Date and expiring on the 10� anniversary thereof, unless this Agreement is otherwise terminated or extended in accordance with the provisions of this Agreement. 1.32 Two 10-Year Extensions. Subject to the terms and conditions in this Section 1.3, Developer shall have the right to extend the Initial Term for two additional 10-year periods. In order to obtain an extension, Developer must be in compliance with all of its obligations under this Agreement and Project Approvals with respect to the portion or portions of the Property for which Developer is seeking an extension. If the Property is owned by more than one entity, separate extensions may be sought for each portion of the Property that is in separate ownership; however, for the extension to be granted, the conditions described in Sections 1.33 and 1.3.4 below must be fully satisfied including full payment of any applicable Contributions. 1.32.1 First 10-Year Extension. In addition to the conditions in Section 1.32 above, in order to obtain the first 10-year extension ("First Term Extension"), prior to the lOth anniversary of the Effective Date, Developer together with any successors in interest or Assignees must either collectively (a) have obtained building permits for at least 350,000 square feet of Net New Development; or (2) have paid or prepaid the following total amounts to City: (i) 100% of the Bicycle Contribution; and (ii) that portion of the Neighborhood Streets OAK#4824-6359-3743 vll g ATTY/AGR/2013.134/STANFORD DEVELOPMENT AGREEMENT REV: 08-14-13 PT