Common use of Future Changes to Regulations Clause in Contracts

Future Changes to Regulations. 2.3.1. Future changes to Applicable Regulations, City Regulations and any other ordinances, laws, rules, regulations, plans or policies adopted by the City or adopted by voter initiative after the Effective Date (“Future Changes to Regulations”) shall not apply to the Project and the Project Site to the extent that they would conflict with this Agreement or the Development Requirements or would otherwise be pre-empted by the Tidelands Trust as applied to the Project. In the event of such a conflict, the terms of this Agreement and the Development Requirements shall prevail. Nothing in this Agreement, however, shall preclude the City from applying Future Changes to Regulations to the Project Site for a development project that is not within the definition of the “Project” under this Agreement. City retains the right to impose Future Changes to Regulations that are not in conflict with this Agreement and the Development Requirements. 2.3.2. Without limitation, Future Changes to Regulations shall be deemed to be “in conflict with this Agreement and the Development Requirements” if they: (a) alter or change any land use, including permitted or conditional uses, of the Project Site from that permitted under this Agreement and the Applicable Regulations; (b) limit or reduce the height or bulk of the Project, or any portion thereof, or otherwise require any reduction in the height or bulk of individual proposed buildings or other improvements from that permitted under this Agreement and the Applicable Regulations; (c) limit or reduce the density or intensity of the Project, or any portion thereof, or otherwise require any reduction in the square footage or number of proposed buildings, residential dwelling units, parking or loading spaces, or other improvements from that permitted under this Agreement and the Applicable Regulations; (d) materially change the Project site plan as shown in the DDA Land Use Plan and Design for Development; (e) materially limit or control the availability of public utilities, services or facilities or any privileges or right to public utilities, services, facilities or Infrastructure or Stormwater Management Controls for the Project, including but not limited to water rights, water connection, sewage capacity rights, and sewer connections; (f) except as otherwise provided herein, in any manner control, delay or limit the rate, timing, phasing or sequencing of the approval, development or construction of all or part of the Project as provided in the DDA; (g) increase any Development Fees or Exactions, except as permitted by this Section 2; (h) preclude or materially increase the cost of performance of or compliance with any provisions of the applicable Development Requirements; (i) except as specifically provided in the Treasure Island Transportation Management Act (Stats. 2008, Ch. 317) (the “Transportation Management Act”) for setting of initial congestion pricing fees by the Board of Supervisors and Transportation Authority, impose any transportation-related revenue measures applicable to the Project Site, including, without limitation, congestion pricing, on-street or off-street parking fees, other parking-related revenue measures, and transit pass fees; (j) Conflict with or materially increase the obligations of Developer, any Vertical Developer or their contractors under any provisions addressing contracting and employment in the DDA, Vertical DDA or Ground Lease, including the Jobs and Equal Opportunity Policy attached as an Exhibit to the DDA; or (k) adversely affect in any material respect (i) the continuing rights and obligations of Developer under this Agreement and the DDA (including, but not limited to, the Financing Plan and any Acquisition and Reimbursement Agreement), (ii) the Authority’s ability to satisfy its obligations to Developer under the DDA (including, but not limited to, the Financing Plan and any Acquisition and Reimbursement Agreement) or (iii) the amount or timing of any payments due to Developer from the Funding Sources under the Financing Plan (including, but not limited to, any Acquisition and Reimbursement Agreement). 2.3.3. The Developer may, in the exercise of its sole discretion, elect to have a Future Change to Regulation that conflicts with this Agreement applied to the Project or the Project Site by giving the City written notice of its election to have a Future Change to Regulation applied, in which case such Future Change to Regulation shall be deemed to be an Applicable Regulation. The foregoing notwithstanding, should the Authority subsequently approve any Future Change to Regulations (with or without Developer’s consent to the extent permitted under Section 12 of the DDA) which becomes an Applicable Regulation hereunder, such Future Change to Regulation shall not be binding on City as an Applicable Regulation without the City’s prior written approval.

Future Changes to Regulations. 2.3.1. Future changes to Applicable Regulations, City Regulations and any other ordinances, laws, rules, regulations, plans or policies adopted by the City or adopted by voter initiative after the Effective Date (“Future Changes to Regulations”) shall not apply to the Project and the Project Site to the extent that they would conflict with this Agreement or Agreement, the Development Requirements Redevelopment Documents, the Transaction Documents, the terms and conditions of the Project Approvals or would otherwise be pre-empted by CRL or the Tidelands Trust as applied to the Project. In the event of such a conflict, the terms of this Agreement Agreement, the Redevelopment Documents, the Transaction Documents and the Development Requirements Project Approvals shall prevail. Nothing in this Agreement, however, shall preclude the City from applying Future Changes to Regulations to the Project Site for a development project that is not within the definition of the “Project” under this Agreement. City retains the right to impose Future Changes to Regulations that are not in conflict with this Agreement Agreement, the Redevelopment Documents, the Transaction Documents and the Development RequirementsProject Approvals. 2.3.2. Without limitation, Future Changes to Regulations shall be deemed to be “in conflict with this Agreement Agreement, the Redevelopment Documents, the Transaction Documents and the Development RequirementsProject Approvals” if they: (a) alter or change any land useuses, including permitted or conditional uses, of the Project Site from that permitted under this Agreement Agreement, the Applicable Regulations and the Applicable RegulationsProject Approvals; (b) limit or reduce the height or bulk of the Project, or any portion thereof, or otherwise require any reduction in the height or bulk of individual proposed buildings or other improvements from that permitted under this Agreement Agreement, the Applicable Regulations and the Applicable RegulationsProject Approvals; (c) limit or reduce the density or intensity of the Project, or any portion thereof, or otherwise require any reduction in the square footage or number of proposed buildings, residential dwelling units, parking or loading spaces, units or other improvements from that permitted under this Agreement Agreement, the Applicable Regulations and the Applicable RegulationsProject Approvals; (d) materially change the Project site plan as shown in the DDA Land Use Plan and Design for Development; (e) materially limit or control the availability of public utilities, services or facilities or any privileges or right to public utilities, services, facilities or Infrastructure or Stormwater Management Controls for the Project, including but not limited to water rights, water connection, sewage capacity rights, and sewer connections; (fe) except as otherwise provided herein, in any manner control, delay or limit the rate, timing, phasing or sequencing of the approval, development or construction of all or part of the Project as provided in the DDA; (gf) increase any Development Fees or Exactions, except as permitted by this Section 2; (hg) preclude or materially increase the cost of performance of or compliance with any provisions of the applicable Development RequirementsRedevelopment Documents; (ih) except as specifically provided in the Treasure Island Transportation Management Act (Stats. 20080000, ChXx. 317) (the “Transportation Management Act”) for setting of initial congestion pricing fees by the Board of Supervisors and Transportation Authority, impose any transportation-related revenue measures applicable to the Project Site, including, without limitation, congestion pricing, on-street or off-street parking fees, fines, penalties, other parking-parking- related revenue measures, and transit pass fees;; or (ji) Conflict with or materially increase the obligations of Developer, any Vertical Developer or their contractors under any provisions Equal Opportunity Program, Workforce Hiring Program or other agreement addressing contracting and employment construction or operations hiring adopted in connection with the DDARedevelopment Plan, Vertical the DDA or Ground Lease, including the Jobs and Equal Opportunity Policy attached as an Exhibit to the any Vertical DDA; or (k) adversely affect in any material respect (i) the continuing rights and obligations of Developer under this Agreement and the DDA (including, but not limited to, the Financing Plan and any Acquisition and Reimbursement Agreement), (ii) the Authority’s ability to satisfy its obligations to Developer under the DDA (including, but not limited to, the Financing Plan and any Acquisition and Reimbursement Agreement) or (iii) the amount or timing of any payments due to Developer from the Funding Sources under the Financing Plan (including, but not limited to, any Acquisition and Reimbursement Agreement). 2.3.3. The Developer may, in the exercise of its sole discretion, elect to have a Future Change to Regulation that conflicts with this Agreement applied to the Project or the Project Site by giving the City written notice of its election to have a Future Change to Regulation applied, in which case such Future Change to Regulation shall be deemed to be an Applicable Regulation. The foregoing notwithstanding, should the Authority subsequently approve any Future Change to Regulations (with or without Developer’s consent to the extent permitted under Section 12 of the DDA) which becomes an Applicable Regulation hereunder, such Future Change to Regulation shall not be binding on City as an Applicable Regulation without the City’s prior written approval.

Future Changes to Regulations. 2.3.1. Future changes to Applicable Regulations, City Regulations and any other ordinances, laws, rules, regulations, plans or policies adopted by the City or adopted by voter initiative after the Effective Date (“Future Changes to Regulations”) shall not apply to the Project and the Project Site to the extent that they would conflict with this Agreement or the Development Requirements or would otherwise be pre-empted by the Tidelands Trust as applied to the Project. In the event of such a conflict, the terms of this Agreement and the Development Requirements shall prevail. Nothing in this Agreement, however, shall preclude the City from applying Future Changes to Regulations to the Project Site for a development project that is not within the definition of the “Project” under this Agreement. City retains the right to impose Future Changes to Regulations that are not in conflict with this Agreement and the Development Requirements. 2.3.2. Without limitation, Future Changes to Regulations shall be deemed to be “in conflict with this Agreement and the Development Requirements” if they: (a) alter or change any land use, including permitted or conditional uses, of the Project Site from that permitted under this Agreement and the Applicable Regulations; (b) limit or reduce the height or bulk of the Project, or any portion thereof, or otherwise require any reduction in the height or bulk of individual proposed buildings or other improvements from that permitted under this Agreement and the Applicable Regulations; (c) limit or reduce the density or intensity of the Project, or any portion thereof, or otherwise require any reduction in the square footage or number of proposed buildings, residential dwelling units, parking or loading spaces, or other improvements from that permitted under this Agreement and the Applicable Regulations; (d) materially change the Project site plan as shown in the DDA Land Use Plan and Design for Development; (e) materially limit or control the availability of public utilities, services or facilities or any privileges or right to public utilities, services, facilities or Infrastructure or Stormwater Management Controls for the Project, including but not limited to water rights, water connection, sewage capacity rights, and sewer connections; (f) except as otherwise provided herein, in any manner control, delay or limit the rate, timing, phasing or sequencing of the approval, development or construction of all or part of the Project as provided in the DDA; (g) increase any Development Fees or Exactions, except as permitted by this Section 2; (h) preclude or materially increase the cost of performance of or compliance with any provisions of the applicable Development Requirements; (i) except as specifically provided in the Treasure Island Transportation Management Act (Stats. 20080000, ChXx. 317) (the “Transportation Management Act”) for setting of initial congestion pricing fees by the Board of Supervisors and Transportation Authority, impose any transportation-related revenue measures applicable to the Project Site, including, without limitation, congestion pricing, on-street or off-street parking fees, other parking-related revenue measures, and transit pass fees; (j) Conflict with or materially increase the obligations of Developer, any Vertical Developer or their contractors under any provisions addressing contracting and employment in the DDA, Vertical DDA or Ground Lease, including the Jobs and Equal Opportunity Policy attached as an Exhibit to the DDA addressing construction or operations hiring adopted in connection with the DDA or any Vertical DDA; or (k) adversely affect in any material respect (i) the continuing rights and obligations of Developer under this Agreement and the DDA (including, but not limited to, the Financing Plan and any Acquisition and Reimbursement Agreement), (ii) the Authority’s ability to satisfy its obligations to Developer under the DDA (including, but not limited to, the Financing Plan and any Acquisition and Reimbursement Agreement) or (iii) the amount or timing of any payments due to Developer from the Funding Sources under the Financing Plan (including, but not limited to, any Acquisition and Reimbursement Agreement). 2.3.3. The Developer may, in the exercise of its sole discretion, elect to have a Future Change to Regulation that conflicts with this Agreement applied to the Project or the Project Site by giving the City written notice of its election to have a Future Change to Regulation applied, in which case such Future Change to Regulation shall be deemed to be an Applicable Regulation. The foregoing notwithstanding, should the Authority subsequently approve any Future Change to Regulations (with or without Developer’s consent to the extent permitted under Section 12 of the DDA) which becomes an Applicable Regulation hereunder, such Future Change to Regulation shall not be binding on City as an Applicable Regulation without the City’s prior written approval.