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<br />1.2 Owner. Owner represents and warrants that it has an equitable ownership <br />interest in the real property located in the City of Santa Ana, California, legally described on <br />Exhibit A attached hereto and incorporated herein, and graphically described on Exhibit B <br />attached hereto and incorporated herein (hereinafter the "Property"), in that it has contracted to <br />purchase the Property from the City. The Property is approximately 1.1 acres in size and is <br />currently improved as a parking lot. <br /> <br />1.3 Approval of Owner. Owner further hereby represents that it has <br />approved this Agreement and is authorized to enter into this Agreement. <br /> <br />1.4 Planning Commission - Council Hearings. On September 12, 2005, the <br />Planning Commission 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. This public hearing was duly held, all public testimony was <br />attended to, and the Planning Commission recommended to the City Council of the City that it <br />execute this Agreement. On , 2005, the City Council ofthe City of Santa Ana <br />("Council"), after providing notice as required by law, held a public hearing to consider the <br />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, applicable Specific Planes) as well as all other applicable ordinances, <br />plans, policies and regulations of the City. <br /> <br />1.6 City Ordinance. On ,2005, the Council adopted Ordinance <br />No. NS-_ approving this Agreement. The ordinance becomes effective thirty (30) days <br />thereafter. <br /> <br />2. DEFINITIONS. In this Agreement, initially capitalized terms used but not <br />defined shall have the following meanings unless the context otherwise requires: <br /> <br />2.1 "Agreement" means this Development Agreement between the City and <br />Steadfast, and all amendments hereof that are properly approved and executed. <br /> <br /> 2.2 <br />Agreement. <br /> 2.3 <br />Agreement. <br /> 2.4 <br />Agreement. <br /> <br />"City" has the meaning given such word in the preamble of this <br /> <br />"Council" has the meaning given such word in Section 1.4 of this <br /> <br />"Effective Date" has the meaning given such term in Section 4.2 of this <br /> <br />2.5 "Executive Director" means the Executive Director ofthe City's <br />Planning and Building Agency or designee. <br /> <br />2 <br />11 A-19 <br />