Entitlement to Develop. Developer has the vested right to develop the Project subject to the terms and conditions of this Agreement, the Applicable Rules, Project Approvals and the Reserved Powers. Developer’s vested rights under this Agreement shall include, without limitation, the right to remodel, renovate, rehabilitate, rebuild or replace the Project or any portion thereof throughout the applicable Term for any reason, including, without limitation, in the event of damage, destruction or obsolescence of the Project or any portion thereof, subject to the Applicable Rules, Project Approvals and Reserved Powers. To the extent that all or any portion of the Project is remodeled, renovated, rehabilitated, rebuilt or replaced, Developer may locate that portion of the Project at any other location of the Property, subject to the requirements of the Project Approvals, the Applicable Rules, and the Reserved Powers.
Entitlement to Develop. Developer has the vested right to develop the Project subject to the terms and conditions of this Agreement, the Applicable Rules, Project Approvals and the Reserved Powers. Developer’s vested rights under this Agreement shall include, without limitation, the right to remodel, renovate, rehabilitate, rebuild or replace the Project or any portion thereof in substantial conformance with the design as approved, throughout the applicable Term for any reason, including, without limitation, in the event of damage, destruction or obsolescence of the Project or any portion thereof, subject to the Applicable Rules, Project Approvals and Reserved Powers. To the extent that all or any portion of the Project is remodeled, renovated, rehabilitated, rebuilt or replaced, Developer may locate that portion of the Project at any other location of the Property, subject to the requirements of the Project Approvals, the Applicable Rules, and the Reserved Powers.
Entitlement to Develop. The City and the Company hereby acknowledge and agree that there are certain actions that have been or will be taken by the City (whether by city staff, any board or commission, or legislative body) to authorize the Project (the “Project Approvals”). The City certifies that, as of the Effective Date, subject to the Company’s compliance with the requirements of the Project Approvals, no rule, regulation, ordinance or official policy of the City (hereinafter the “Applicable Rules”) prohibits, prevents or encumbers the completion and occupancy of the Project in accordance with the uses, densities, designs, heights, set back requirements, signage regulations, permitted demolition and other development entitlements incorporated and agreed to herein or currently existing in the City’s rules, regulations and policies. The Company has the vested right to develop the Project, subject only to the terms and conditions of this Agreement and compliance with the Applicable Rules. The Company’s vested rights shall include, without limitation, the right to remodel, renovate, rehabilitate, rebuild, or replace the Project or any portion thereof (including without limitation the right to replenish equipment used in operating the Project) throughout the Term for any reason, including, without limitation, in the event of damage, destruction, or obsolescence of the Project or any portion thereof, subject to the Applicable Rules. To the extent that all or any portion of the Project is remodeled, renovated, rehabilitated, rebuilt, or replaced, the Company may locate that portion of the Project at any other location of the Project Site, subject to the Applicable Rules.
Entitlement to Develop. Developer has a vested right to develop the Project in accordance with the Existing Approvals subject to the terms and conditions of this Agreement, the Applicable Rules and the Reserved Powers. City shall not revoke or modify the Existing Approvals. Developer’s vested rights under this Agreement shall include, without limitation, the right to remodel, renovate, rehabilitate, redevelop, rebuild or replace the Project or any portion thereof throughout the applicable Term for any reason, including, without limitation, in the event of damage, destruction or obsolescence of the Project or any portion thereof, subject to the Applicable Rules, Existing Approvals and Reserved Powers, provided that Developer shall have paid to City not less than One Hundred Twelve Thousand Dollars ($112,000.00) as the Affordable Housing Payment.
Entitlement to Develop. Developer has the vested right to develop the Project subject to the terms and conditions of this Agreement, the Applicable Rules, Project Approvals and the Reserved Powers. Developer’s vested rights under this Agreement shall include, without limitation, the right to remodel, renovate, rehabilitate, rebuild or replace the existing development and the Project or any portion thereof throughout the applicable Term for any reason, including, without limitation, in the event of damage, destruction or obsolescence of the existing development or the Project or any portion thereof, subject to the Applicable Rules, Project Approvals and Reserved Powers.
Entitlement to Develop. By this Agreement City has granted to Stanford the vested right to develop the Designated Projects, and the Housing to the extent and in the manner provided in this Agreement. City hereby finds that development to be consistent with the Comprehensive Plan and the Zoning Ordinance, as amended to include the AS1 and AS2 zoning districts set forth in Exhibit D. City shall not apply to the Designated Projects, or the Housing any change in the Modified 2003 Rules (including, without limitation, any change in any applicable Comprehensive, General or Specific Plan, zoning, subdivision ordinance or regulation) adopted or effective after the Effective Date, that would conflict in any way with the vested rights of Stanford, except as provided in Sections 7 and 8 below.
