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"TDM" is defined in Section 3.4. <br /> "Tentative Map" means a map created for the purposes of subdividing land pursuant to <br /> the Subdivision Map Act. <br /> "Term" is defined in Section 1.3.1. <br /> "Total Gross Building Area" means the total amount of square footage of any building <br /> area on the Property, whether such building is newly constructed or present on the Property as of <br /> the Effective Date. <br /> "Water Tank Contribution" is defined in Section 3.6. <br /> 1.2 Effective Date. The Effective Date of this Agreement shall be the later of(i) the date that <br /> is thirty (30) days after the date that the Enacting Ordinance is adopted and (ii) the date this <br /> Agreement is fully executed by the Parties. The Effective Date is inserted at the beginning of <br /> this Agreement. The Parties acknowledge that section 65868.5 of the Development Agreement <br /> Statute requires that this Agreement be recorded with the County Recorder no later than ten (10) <br /> days after the City enters into this Agreement, and that the burdens of this Agreement shall be <br /> binding upon, and the benefits of this Agreement shall inure to, all successors in interest to the <br /> Parties to this Agreement. <br /> 1.3 Basic Term. Except as to those obligations that expressly extend beyond the stated Term <br /> of this Agreement, the "Term" of this Agreement shall commence as of the Effective Date and <br /> shall continue for the Initial Term as defined in Section 1.3.1 plus the duration of any City- <br /> approved extensions as provided in Section 1.3.2 below, ar until earlier terminated by mutual <br /> consent of the Parties or as otherwise provided by this Agreement. <br /> 1.3.1 Initial Term of Agreement. The "Initial Term" of this Agreement shall be 10 <br /> years, commencing on the Effective Date and expiring on the 10�' anniversary thereof, unless <br /> this Agreement is otherwise terminated or extended in accordance with the provisions of this <br /> Agreement. <br /> 1.3.2 Two 10-Year Extensions. Subject to the terms and conditions in this Section 1.3, <br /> Developer shall have the right to extend the Initial Term for two additional 10-year periods. In <br /> order to obtain an extension, Developer must be in compliance with all of its obligations under <br /> this Agreement and Project Approvals with respect to the portion or portions of the Property for <br /> which Developer is seeking an extension. If the Property is owned by more than one entity, <br /> separate extensions may be sought for each portion of the Property that is in separate ownership; <br /> however, for the extension to be granted, the conditions described in Sections 1.3.3 and 1.3.4 <br /> below must be fully satisfied including full payment of any applicable Contributions. <br /> 1.3.2.1 First 10-Year Extension. In addition to the conditions in Section 1.3.2 <br /> above, in order to obtain the first 10-year extension ("First Term Extension"), prior to the lOth <br /> anniversary of the Effective Date, Developer together with any successars in interest ar <br /> Assignees must either collectively (a) have obtained building permits for at least 350,000 square <br /> feet of Net New Development; or (2) have paid or prepaid the following total amounts to City: <br /> (i) 100% of the Bicycle Contribution; and (ii) that portion of the Neighborhood Streets <br /> 8 <br /> ATTY/AGR/2013.134/STANFORD DEVELOPMENT AGREEMENT <br /> REV: 08-14-13 PT <br />