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018 <br /> <br />lot is contemplated to be constructed approximately in the year <br />1999. The City will not widen and improve Bristol Street north of <br />Edinger Avenue without construction of the said parking lot. <br /> <br /> (c) The city agrees to sell to Developer and the Developer <br />agrees to purchase, at fair market value, Additional Parcel No. 3, <br />for ultimate use and improvement as a parking area for students <br />attending the school as shown on the Site and Development Plan <br />specified in section 8 of this Development Agreement, subject to <br />deed restrictions that give the City the right to reacquire title <br />to the Property in the event that any portion of any building on <br />Additional Parcel No. 3 is rented to any person other than <br />Developer or that any such building has not been removed from <br />Additional Parcel No. 3 within ten (10) years of the date of <br />acquisition of Additional Parcel No. 2 by the Developer. Developer <br />shall be responsible for the removal, at Developer's expense, of <br />the improvements on Additional Parcel No. 3 within ten (10) years <br />after the conveyance of Additional Parcel No. 3 to Developer. <br />Developer may use the said area for other school uses including <br />offices and classrooms if a substitute parking area for students <br />having an equal parking capacity is provided elsewhere, either on <br />the Property or on other property in the vicinity of the Property <br />which either is owned by Developer or is subject to an easement or <br />covenant which allows its use for parking appurtenant to the school <br />on the Property. <br /> <br /> (d) The Executive Director of the city's Community Develop- <br />ment Agency is authorized: (i) to determine the fair market value <br />of Additional Parcel No. 3 based upon an independent appraisal of <br />Additional Parcel No. 3 and (ii) to enter into purchase and sale <br />agreements on behalf of the City with the Developer under mutually <br />acceptable terms and conditions. The Mayor of the City is <br />authorized to execute, on behalf of the city, in accordance with <br />the terms and conditions of any such purchase and sale agreement, <br />a deed conveying title to Additional Parcel No. 3 to Developer. <br /> <br />13. Default and Remedies. <br /> <br /> (a) Developer shall be in default under this Agreement upon <br />the happening of one or more of the following events or conditions: <br /> <br />If a material warranty, representation or statement <br />made or furnished by Developer to the city is false <br />or proves to have been false in any material re- <br />spect when it was made; <br /> <br />ii) <br /> <br />A finding and determination by the city Council <br />made following a periodic review under Government <br />Code Section 65865.1 that upon the basis of sub- <br />stantial evidence, Developer has not complied in <br />good faith with a material requirement of this <br /> <br />12 <br /> <br /> <br />