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758 <br /> <br /> city shall transfer all Sunflower Funds to Developer, up <br /> to an aggregate amount equal to fifty percent (50%) of <br /> Developer's total cost of inst&lling the Sunflower signal. <br /> (d) Lake Center/MacArthur Traffic siqna!. <br /> Developer and the city agree that the intersection of Lake <br /> Center Driwe and MacArthur Boulevard adjacent to the <br /> Property may require a traffic signal during the term of <br /> this Development Agreement (the ,,MacArthur Signal"). At <br /> any time the city determines through traffic monitoring <br /> that the MacArthur signal is warranted, the City may, by <br /> providing notice to Developer, require Developer to (1) <br /> install the MacArthur Signal in accordance with standard <br /> traffic signal warrants, or, at Developer's option, (2) <br /> pay to the city the cost of installing the Mackrthur <br /> signal, in which case the city shall install the signal. <br /> To ensure the performance of Developer's <br /> obligation, Developer shall post a "faithful performance" <br /> bond in the amount of One Hundred Fifty Thousand Dollars <br /> ($150,000.00) as a condition to the city's issuance of a <br /> certificate of occupancy for the first building on the <br /> Property constructed after the effective date of this <br /> Agreement. The City shall release the bond at the earlier <br /> of (i) the Developer's completion of installation of the <br /> MacArthur Signal, or (ii) six months after Developer <br /> provides accurate written notice to the city that the <br /> Development is at least ninety percent (90%) occupied, at <br /> which time, if the MacArthur Signal has not become <br /> warranted, the Developer's obligation to install the <br /> MacArthur signal shall be extinguished. <br /> 14. ~' Unless amended or cancelled as <br />provided in Paragraph 11, this Development Agreement shall <br />continue to be enforceable by any party to it, <br />notwithstanding a change in general or specific plans, <br />zoning, subdivision, building or other regulations adopted by <br />the city which alter or amend the rules, regulations or <br />policies applicable to the Development. <br /> 15. ~upersession of AqreemeDt bY ChanGes in State o~ <br />eder~~. In the event that State or Federal laws or <br />regulations enacted after this Development Agreement have <br />been entered into or the action or inaction of any other <br />affected governmental jurisdiction prevents or precludes <br />compliance with one or more provision of this Development <br />Agreement that requires changes in plans, maps or permits <br />approved by the city, the parties shall: <br /> (a) Provide the other party with written notice <br /> of such State or Federal restriction, provide a copy of <br /> such regulation or policy as a statement of conflict for <br /> the provisions of this Development Agreement; and <br /> <br />OC 11 \DEC \CA.~-PAC \CAL-PAC .aG4 l0 <br /> <br /> <br />