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297 based upon a cost. estimate prepared by a licensed civil engineer reasonably satisfactory to the City. For purposes of this Agreement, "sufficient security' shall mean a bond substantially in the form set forth in Section 66499.! of the Government Code of the State of California issued by a reasonably satisfactory surety, Or such other reasonable security ss the City may hereafter accept in an amount equal to one hundred ten percent (ll0%) of such engineer's estimate of the uncompleted costs of the off-site improvements for the applicable phase. It is understood and agreed that the costs of such off-site improvements (including, without limitation, land acquisition costs, severance damages and construction costs) are to be borne by Developer except as otherwise expressly provided in this Agreement or as otherwise stated in the EIR, and subject to such reimbursements to Developer as are provided in the D.D.A. or as may hereafter be agreed to by the City, and subject to such financial assistance as the City provides pursuant to Paragraph 16 hereof. The EIR identifies a Transportation Demand Management Program (#TDN") to be implemented as one of the mitigation measures applicable to the Development. In this regard, and aa certified in the Findings of Fact and Statement of Overriding Consideration applicable to the EIR, the implementation of the TDM program will not be required, and compliance with the reduction measures projected by the implementation of the TDM program shall not be tested prior to the commencement of the fifth (Sth) and final phase of the Development; provided, however, prior to the approval of any building permits on the fifth (5th) phase, a report describing trip generation, level of service and travel impacts on the street system in the vicinity of the Development shall be submitted to the City Traffic Engineer. (b) Subsequent Environmental Review. In exercising its legislative discretion to enter into this Development Agreement and to commit the City to the completion of the Development, the City has reviewed and considered the potential adverse environmental impacts related to all aspects of the contemplated project, including, without limitation, the potential demands the Development will make on local and regional streets, highways, parks and recreation areas, water capacity and water lines, sewer capacity and sewer lines, flood and storm drain systems, and energy conservation, and the effect on school capacity, traffic, pedestrian safety, noise and air quality impacts. The City has further reviewed and considered from a variety of perspectives, and has analyzed pursuant to a variety of assumptions, the projected future regional and cumulative environmental demands that will compete with the Development for available capacities and cumulatively add to potential adverse impacts. In so doing, the City has considered among other things, the possibilities that: (i) Federal, local, regional and state plans, if any, for provision of new infrastructure systems or expansion of existing infrastructure systems may be delayed, modified or abandoned; -7- I