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<br />and <br /> <br />Matt Kaufman <br />Senior Vice President, Development and Operations Nexus Companies <br />I MacArthur Plaza, Suite 300 <br />Santa Ana, California 92707 <br />telefacsimile (714) 546-5660 <br /> <br />and <br /> <br />Thomas P. Clark, Jr., Esq. <br />Stradling Y occa Carlson & Rauth <br />660 Newport Center Drive, Suite 1600 <br />Newport Beach, California 92660 <br />telefacsimile (949) 725-4100 <br /> <br />and <br /> <br />R. Michael Joyce, Esq. <br />Allen Matins Leck Gamble & Mallory LLP <br />1900 Main Street, 5th Floor <br />Irvine, California 926 I 4-7321 <br />telefacsimile (949) 553-8354 <br /> <br />A party may change its address by giving notice in writing to the other party. <br />Thereafter, any notice, tender, demand, delivery, or other communication shall be addressed and <br />transmitted to the new address. If sent by mail, any notice, tender, demand, delivery, or other <br />communication shall be effective or deemed to have been given three (3) days after it has been <br />deposited in the United States mail, duly registered or certified, with postage prepaid, and addressed <br />as set forth above. If sent by telefacsimile, any notice, tender, demand, delivery, or other <br />communication shall be effective or deemed to have been given twenty-four (24) hours after the time <br />set forth on the transmission report issued by the transmitting facsimile machine, addressed as set <br />forth above. For purposes of calculating these time frames, weekends, federal, state, County, or city <br />holidays shall be excluded. <br /> <br />5. DEVELOPMENT OF THE PROPERTY. <br /> <br />5.1 Owner Obligations. In consideration for the City entering into this <br />Agreement and performing its obligations hereunder and in order to effectuate the premises, purposes <br />and intentions set forth in this Agreement and the Development Agreement Act, Owner hereby <br />agrees to the following obligations. <br /> <br />5.1.1 Cooperative Agreement. The Owner and the City, together with <br />other parties, have concurrently executed the Cooperative Agreement. Owner agrees to comply in all <br />respects with its obligations under said Cooperative Agreement. <br /> <br />5.1.2 Public Improvements. Owner shall construct the Public <br />Improvements prior to the issuance of a Certificate of Occupancy for the first Element unless <br />otherwise approved by the Director of Public Works. <br /> <br />10 <br /> <br />DOCSOCIlI 10339vl 1124579-0001 <br /> <br />Ordinance NS-2691 <br />Page 17 of 73 <br />