NO DEVELOPMENT OBLIGATION. There is no requirement under this Agreement that Landowner initiate or complete development of the Project, or any portion thereof, except for Project Infrastructure, public benefits xxxxx Affordable Housing, to the extent any such obligation has arisen as provided in this Agreement. There is no requirement that development be initiated or completed within any period of time or in any particular order except as provided in Section 17.2. The development of the Project is subject to numerous factors that are not within the control of Landowner or the Local Agency, such as the availability of financing, interest rates, access to capital and other market conditions and similar factors. Except as expressly required by this Agreement, including without limitation, the applicability of the County’s Growth Management System and the requirements of the Phasing Plan, Landowner may develop the Project in such order and at such rate and times as Landowner deems appropriate within the exercise of its sole and subjective business judgment, provided, however, that Local Agency shall have the right to withhold building permits for any proposed development to the extent the proposed sequence of development of Project Infrastructure (including but not limited to the Open Space Phasing) fails to conform to the Phasing Plan set forth in Exhibit D. In Xxxxxx Construction Co. v. City of Camarillo, 37 Cal.3d 465 (1984), the California Supreme Court ruled that the failure of the parties therein to provide for the timing of development resulted in a later adopted initiative restricting the timing of development and controlling the parties’ agreement. It is the intent of the Parties to avoid such a result by acknowledging and providing for the timing of development of the Project in the manner set forth herein. The Parties acknowledge that such a right is consistent with the intent, purpose and understanding of the Parties to this Agreement, and that without such a right, Xxxxxxxxx’s development of the Project would be subject to the uncertainties sought to be avoided by the Development Agreement Statute, Chapter 56 of this Agreement.
NO DEVELOPMENT OBLIGATION. Except as set forth in this Agreement and the Approvals, including, without limitation, the Ten Year and Twenty Year Development Obligations and other requirements set forth in Section 2.2, the timing of delivery of Base Requirements and Community Benefits as set forth in Exhibit C1, D, E, and I, the timing and delivery of Privately-Owned Publicly Accessible Open
NO DEVELOPMENT OBLIGATION. There is no requirement under this Agreement that Developer initiate or complete development of the Project, or any portion thereof. There is also no requirement that development be initiated or completed within any period of time or in any particular order, subject to the requirement to record the Recorded Restrictions against the Project Site prior to obtaining a site permit and to complete the Community Benefits prior to obtaining any temporary certificate of occupancy or final certificate of occupancy relating to all or any portion of the Project as set forth in Section 4.2. The development of the Project is subject to numerous factors that are not within the control of Developer or the City, such as availability of financing, interest rates, access to capital, and similar factors. Except as expressly required by this Agreement, the City acknowledges that Developer may develop the Project in such order and at such rate and times as Developer deems appropriate within the exercise of its sole and subjective business judgment. In Xxxxxx Construction Co. v.
NO DEVELOPMENT OBLIGATION. There is no requirement under this Agreement that Developer initiate or complete development of the Project, or any portion thereof. There is also no requirement that development be initiated or completed within any period of time or in any particular order, subject to the requirement to complete applicable Community Benefits with each portion of the Project started by Developer as set forth in Section 4.2. The development of the Project is subject to numerous factors that are not within the control of Developer or the City, such as availability of financing, interest rates, access to capital, and similar factors. Except as expressly required by this Agreement, the City acknowledges that Developer may develop the Project in such order and at such rate and times as Developer deems appropriate within the exercise of its sole and subjective business judgment. In Xxxxxx Construction Co. v. City of Camarillo, 37 Cal.3d 465 (1984), the California Supreme Court ruled that the failure of the parties therein to provide for the timing of development resulted in a later adopted initiative restricting the timing of development and controlling the parties’ agreement. It is the intent of the Parties to avoid such a result by acknowledging and providing for the timing of development of the Project in the manner set forth herein. The City acknowledges that such a right is consistent with the intent, purpose and understanding of the Parties to this Agreement, and that without such a right, Developer’s development of the Project would be subject to the uncertainties sought to be avoided by the Development Agreement Statute, Chapter 56 and this Agreement.
NO DEVELOPMENT OBLIGATION. There is no requirement under this Agreement that Developer initiate or complete development of the Project, or any portion thereof. There is also no requirement that development be initiated or completed within any period of time or in any particular order, subject to the requirement to complete applicable Community Benefits with each portion of the Project started by Developer as set forth in Section 4.1. The development of the Project is
NO DEVELOPMENT OBLIGATION. There is no requirement under this Agreement that SFCM initiate or complete development of the Project, or any portion thereof. There is also no requirement that development be initiated or completed within any period of time or in any particular order, subject to the requirement of the Replacement Housing and Interim Relocation Plan. The development of the Project is subject to numerous factors that are not within the control of SFCM or the City, such as availability of financing, interest rates, access to capital, and similar factors. Except as expressly required by this Agreement, the City acknowledges that SFCM may develop the Project in such order and at such rate and times as SFCM deems appropriate within
NO DEVELOPMENT OBLIGATION. There is no requirement under this Agreement that CPMC initiate or complete development of the Project, or any portion thereof (including, without limitation, any development on the Cathedral Hill Campus) except for (i) the Hospital Commitment, if and to the extent that such obligation has arisen pursuant Section 4.2.1, and (ii) the Community Commitments, if and to the extent that any such obligation has arisen pursuant Section 4.2.4. There is also no requirement that development be initiated or completed within any period of time or in any particular order except as set forth in Sections 4.2.1 and 4.
NO DEVELOPMENT OBLIGATION. There is no requirement under this Agreement that CPMC initiate or complete development of the Project, or any portion thereof (including, without limitation, any development on the Cathedral Hill Campus) except for (i) the Hospital Commitment, if and to the extent that such
NO DEVELOPMENT OBLIGATION. There is no requirement that Developer initiate or complete development of the Project, or that Developer do so within any period of time or in any particular order, all subject to the requirement to provide the Associated Community Benefits in accordance with this Agreement if Developer elects to Commence Construction and pursue to Completion a particular portion of the Project to which such Associated Community Benefit is tied. The development of the Project is subject to numerous factors that are not within the control of Developer or the City, including the Development Considerations. Except as expressly required by this Agreement, the City acknowledges that Developer may develop the Project in such order and at such rate and times as Developer deems appropriate within the exercise of its sole and subjective business judgment. In Xxxxxx Construction Co. v.
