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<br />... <br /> <br />75-8 <br /> <br />city shall transfer all Sunflower Funds to Developer, up <br />to an aggregate amount equal to fifty percent (Sot) of <br />Developer's total cost of installing the Sunflower signal. <br /> <br />(d) ~ake Center/MacArthur Traffic Signal. <br />Developer and the City agree that the intersection of Lake <br />Center Drive 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 MacArthur <br />Signal, in which case the City shall install the signal. <br /> <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 /> <br />14. Enforcement. 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 /> <br />15. Suoersession of Agreement bv Changes in state or <br />Federal Law. 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 /> <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 />OCll\DBC\CAL-PAC\CAL-PAC.AG& 10 <br /> <br />7~jg36 <br /> <br />I' <br />. I <br />