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Development of the Property in accordance with this Agreement will provide substantial benefits <br />to City, as set forth in Section 4 below, and as stated Sections 1.4 and 2.1 of the Specific Plan. <br />will further important policies and goals of City. <br />K. This Agreement will eliminate uncertainty in planning and provide for the orderly development <br />of the Property, provide for public services appropriate to the development of the Project, and <br />generally serve the purposes for which development agreements under Section 65864, et sec.. of <br />the Government Code are intended. <br />L. On August 29, 2023, the City Council held a public hearing and authorized the City's Planning <br />Division to draft findings and issue a determination overruling the County of Orange Airport <br />Land Use Commission's Determination of Inconsistency associated with the Project and to <br />provide notice of same in accordance with Section 21676(b) of the Public Utilities Code to the <br />County of Orange Airport Land Use Commission and the State of California Department of <br />Transportation's Division of Aeronautics. <br />M. On August 12, 2024 City's Planning Commission held a public hearing on this Agreement, made <br />findings and determinations with respect to this Agreement, and recommended to the City <br />Council that the City Council approve this Agreement. <br />N. On September 17, 2024, the City Council held a public hearing introducing this Agreement and <br />considered the Planning Commission's recommendations and the testimony and information <br />submitted by City staff, RCR, and members of the public. On F, consistent with <br />applicable provisions of State law and the rules and regulations of the City, the City Council <br />adopted Ordinance No. M finding this Agreement consistent with the City's General Plan and <br />approving and adopting this Agreement. <br />COVENANTS <br />NOW, THEREFORE, in consideration of the above recitals and of the mutual covenants <br />hereinafter contained and for other good and valuable consideration, the receipt and adequacy of which is <br />hereby acknowledged, City and Owner hereby agree as follows: <br />1. DEFINITIONS AND EXHIBITS. <br />1.1. Definitions. The following terms when used in this Agreement (including in the recitals <br />above) shall be defined as follows: <br />I.I.I. "Assigned Rights" has the meaning set forth in Section 2.5.1 hereof. <br />1.1.2. "Assignment and Assumption Agreement" has the meaning set forth in Section <br />2.5.1 hereof. <br />1.1.3. "Assumed Obligations" has the meaning set forth in Section 2.5.1 hereof. <br />1.1.4. "Agreement" means this Development Agreement. <br />1.1.5. "City" means the City of Santa Ana, a charter city and California municipal <br />corporation. <br />-2- <br />Exhibit 4 <br />