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conditions and other factors. The Parties acknowledge that Developer cannot at this time predict when or the rate at which or the order in which phases will be developed. Such decisions depend upon numerous factors which are not within the control of Developer, such as market orientation and demand, Developer's business needs, interest rates, competition and other similar factors. Without any limitation of the foregoing, it is the desire of the Parties hereto to avoid the result in Pardee Construction Co. v. City of Camarillo, 37 Ca1.3d 465 (1984), in which the California Supreme Court held that the failure of the parties therein to consider, and expressly provide for, the timing of development resulted in a later-adopted initiative restricting the timing of development to prevail over such parties' agreement. Notwithstanding the adoption of any New City Laws, including an initiative adopted after the Effective Date by City's electorate to the contrary, the Parties acknowledge that, except as otherwise provided for in this Agreement, Developer shall have the vested right to develop the Project in such order and at such rate and at such times as Developer deems appropriate in its sole discretion. 2.4 No Conflicting Enactments. Except as otherwise provided in this Agreement, City shall not impose on the Project (whether by action of the City Council or by initiative, referendum or other means) any New City Law that is in conflict with this Agreement or the Existing Approvals. Without limiting the generality of the foregoing, City shall not (i) apply to the Property any change in land use designation or permitted use of the Property; (ii) limit or control the ability to obtain public utilities, services, or facilities (provided, however, nothing herein shall be deemed to exempt the Project or the Property from any water use rationing requirements that may be imposed from time to time in the future or be construed as a reservation of any existing sanitary sewer or potable water capacity); (iii) limit or control the uses; building setbacks, square footage, dimensions, floor plates, height, intensity and design; location of buildings and structures; spacing between buildings; minimum or maximum interior street widths or dimensions; parking requirements; grading, requirements relating to construction and/or financing of public improvements; or other improvements of the Project in a manner that is inconsistent with or more restrictive than the limitations included in the Existing Approvals or this Agreement; or (iv) limit or control the rate, timing, phasing or sequencing of the approval, development or construction of all or any part of the Project. The ma,�imum commercial square footage and the uses allowable under the Precise Plan (in accordance with the terms of the Precise Plan) are intended to be available to Developer at the Developer's option, provided that the Project complies with all other applicable requirements of the Precise Plan and the Applicable City Regulations, and, except as otherwise provided herein, shall not be reduced during the Term of this Agreement by any amendment of the Precise Plan, or the implementation of the Precise Plan. The Exactions described in the Precise Plan are intended to be exhaustive, and additional Exactions for the impacts of the Project shall not be imposed, except to the extent authorized under Section 2.1.2. 2.5 Cit�s Reservations of AuthoritX. The Parties acknowledge and agree that City is restricted in its authority to limit its police power by contract and that the limitations, reservations and exceptions contained in this Agreement are intended to reserve to City all of its police power which cannot be so limited. Notwithstanding any other provision of this Agreement to the contrary, the following regulations and provisions shall apply to the development of the Property: 16 ATI'Y/AGR/2013134/STANFORD DEVELOPMENT AGREEMENT REV: 08-14-13 PT