Property Rights Vested. Subject to the terms, conditions and limitations of the Vested Property Rights Statute and except as otherwise provided in this Agreement, the rights identified below shall constitute the vested property rights under this Agreement commencing on the Effective Date and continuing until the fifteenth anniversary of the Effective Date, but shall not constitute the vested property rights with respect to subsequent site-specific development plans which, unless otherwise subsequently agreed in writing, shall vest as provided in, and for the time period contained in, the Vested Property Rights Statute:
Property Rights Vested. Subject to the terms, conditions and limitations of the Vested Property Rights Statute, subject to compliance with the Centennial Municipal Code, and except as this Agreement expressly provides otherwise, the rights identified below shall constitute vested property rights under this Agreement pursuant to the Vested Property Rights Statute: The right to develop, plan and engage in land uses within the Property and the South Redevelopment Area in the order, at the rate and at the time that market conditions dictate, in a manner that is substantially consistent with the terms and conditions of this Agreement (including each provision hereof) and the Project Plan. The right to commence and complete development of the Project in the manner contemplated in the MDP or Amended MDP, as applicable (including, without limitation, the right to develop the Project with the uses and densities specified on the MDP or Amended MDP, as applicable, and the right to receive all CURA approvals and permits necessary for the development of the Project) with conditions, standards and dedications which are no more onerous than those imposed by Centennial upon other developers in Centennial on a uniform, non-discriminatory and consistent basis. The right to apply for and, upon compliance with the applicable terms and conditions of the Project Plan, to receive grading permits, building permits, certificates of occupancy, and other permits necessary for the timely development, construction and occupancy of improvements within the Project. Except as the Vested Property Rights Statute or this Agreement expressly provides otherwise, no initiated or referred zoning, subdivision, land use or other legal or administrative action that would directly or indirectly have the effect of materially and adversely altering, impairing, preventing, diminishing, imposing a moratorium on development, delaying or otherwise adversely affecting any of the Developer’s rights set forth in this Agreement shall apply to or be effective against the Property, the South Redevelopment Area, or the Project.
Property Rights Vested
