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232 <br /> <br /> (6) Many of the extraordinary and significant benefits identified as <br />consideration to City for entering into this Agreement are of regional significance, relate to <br />existing deficiencies in public facilities, require O~mer to contribute a greater percentage of <br />benefits than would otherwise be required, and represent benefits which would not otherwise be <br />required as part of the development process. <br /> <br /> (7) Owner and City have previottsly entered into a Development <br />Agreement involving a larger project on a larger parcel of property. This Development <br />Agreement, dated December 20, 1989, has expired by its own terms. The development <br />contemplated under this Development Agreement constitutes Phase II of the development <br />contemplated in. the prior, expired Development Agreement. <br /> <br /> 1.2 Owner. Owner represents and warrants that it has a legal or equitable <br />interest in the real property located in City of Santa Ana, California, legally described on Exhibit <br />A attached hereto and incorporated herein, and graphically described on Exhibit B attached <br />hereto and incorporated herein (hereinafter the "Property"). The Property consists of <br />approximately 5.13 acres, located on Tustin Boulevard south of Seventeenth Street in the City of <br />Santa Ana. The O~vner desires to develop the Property with a six (6) story, 120,000 square foot <br />office tower, expand the detached parking structure by adding an additional 441 parking stalls, <br />add 2,000 square feet of service retail, and a 10,000 square foot freestanding restaurant. The <br />Property will be developed with a maximum F.A.R. (floor area ratio) of 1.5. <br /> <br /> 1.3 Interest of Owner. Owner hereby represents that it has an equitable and <br />legal interest in the Property. Owner further hereby represents that it has approved this <br />Agreement and is authorized to enter into this Agreement. <br /> <br /> 1.4 Planning Commission - Council Hearings. On March 27, 2000 the <br />Planning Comnfission of the City ("Planning Commission"), after giving notice pursuant to <br />Government Code Sections 65090 and 65091, held a public hearing to consider the Owner's <br />application for this Agreement. The Planning Commission recommended to the City Council of <br />City that it execute this Agreement. On November 20, 2000, the City Council of the City of <br />Santa Ana ("Council"), after providing notice as required by law, held a public hearing to <br />consider the Owner's application for this Agreement <br /> <br /> 1.5 Council Findings. The Council finds that this Agreement is consistent <br />with the General Plan, as amended by general plan amendment no. 00-002 (Resolution No. <br />2000-076), applicable Specific Plan(s) as well as all other applicable ordinances, plans, policies <br />and regulations of the City. <br /> <br /> 1.6 City Ordinance On December 4, 2000, the Council adopted <br />Ordinance No. NS-2456 approving this Agreement, which became effective on January 3, 2001. <br /> <br />2. DEFINITIONS. In the Agreement, unless the context otherwise requires: <br /> <br /> 2.1 "Final Design" means the Plan of Development, which constitutes the <br />final design documents for the project to be constructed on the Property, as prepared by' Owner <br />and approved by City, which are set forth in greater detail in Exhibit C attached hereto and <br />incorporated herein by the reference (hereinafter referred to as "the Plan"). <br /> <br />2 <br /> <br /> <br />