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Exhibit "C" — Development Plan <br />Exhibit "D" — Development Impact Fees <br />Exhibit "E" — Assignment and Assumption Agreement <br />Exhibit "F" — 2018 Base Tax Year Values <br />2. GENERAL PROVISIONS. <br />2.1. Binding Effect of Agreement. The Property is hereby made subject to this Agreement. <br />Development of the Property is hereby authorized and shall be carried out in accordance with the <br />terms of the Development Plan and this Agreement. <br />2.2. Ownership of Property. Owner represents and covenants that it is the Owner of the fee <br />simple title to, or has an equitable interest in, the Property or a portion thereof. <br />2.3. City Council Findings. The City Council finds that: <br />2.3.1. This Agreement is consistent with the City's General Plan <br />2.3.2. This Agreement ensures a desirable and functional community environment, <br />provides effective and efficient development of public facilities, infrastructure, and services <br />appropriate for the development of the Project, enhances effective utilization of resources within <br />the City. <br />2.3.3. This Agreement provides public benefits beyond those that are necessary to <br />mitigate the development of the Project. <br />2.3.4. This Agreement strengthens the public planning process, encourages private <br />participation in comprehensive planning and reduces costs of development and government. <br />2.3.5. The best interests of the citizens of the City and the public health, safety, and <br />welfare will be served by entering into this Agreement. <br />2.4. Term. <br />2.4.1. The initial term of this Agreement shall commence on the Effective Date, and <br />shall continue for a period of ten (10) years thereafter (the "Initial Term"), unless this term is <br />modified or extended pursuant to the provisions of this Agreement. Together, the Initial Term <br />and any extension under this Agreement constitute the "Term." <br />2.4.2. The Initial Term of this Agreement is automatically extended by five additional <br />years for an Initial Term of 15 years if the Owner achieves the following milestones: <br />(a) Within the first seven (7) years of the Initial Term, the redevelopment of the <br />central box (i.e., the space previously occupied by Nordstrom), the construction of the Central <br />Plaza, and the construction of a large -format (i.e.. minimum 75,000 net, new square feet) <br />-5- <br />11 B-18 <br />