NS-3087 - Village Specific Plan (1561 W. Sunflower Ave)

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Approvals), and entitlements of every kind and nature that arc sought or agreed to in writing by Owner in its sole and absolute discretion for Development of the Project and that are approved by the City.Project Approvals include, but are not limited to, general plan amendments,specific plan approvals or amendments,site plans, development project review approvals,tentative and final subdivision maps, design guidelines,variances,zoning designations,conditional use permits,grading, building,and other similar permits,the site-specific provisions of general plans, environmental assessments, including environmental impact reports and negative declarations. A list of the Project Approvals is set forth in Exhibit"C." 1.1.26."Property"means the real property described in Exhibit"A" and shown in Exhibit"B"to this Agreement.The Property is approximately 17,2 gross acres in size and is occupied by the South Coast Plaza Village commercial development as of the Effective Date.It is composed of seven parcels, Assessor Parcel Numbers(APNs): 412-131-10,412-131-20,412- 131-21,412-451-01,412-451-02,412-451-03,and 412-451-04. 1.1.27."Public Benefit"refers to those benefits provided to the City and the community by Owner pursuant to Section 4 below. 1.1.28."Reservation of Rights"means the rights and authority excepted from the assurances and rights provided to Owner under this Agreement and reserved to City under Section 3.3 of this Agreement. 1.1.29."Specific Plan Phase"means any one of the five phases as shown on Figure 5-1 (Conceptual Phasing Plan)of the Village Santa Ana Specific Plan. 1.1.30."Term"has the meaning ascribed thereto in Section 2.4.1 below. 1.2. Exhibits. The following documents are attached to, and by this reference made a part of, this Agreement: Exhibit"A"—Legal Description of the Property Exhibit"B"—Map showing Property and its location Exhibit"C"—Development Plan and list of Project Approvals 2. GENERAL PROVISIONS. 2.1. Binding Effect of Agreement. The Property is hereby made subject to this Agreement. Development of the Property is hereby authorized and shall be carried out in accordance with the terms of the Development Plan,the Project Approvals, and this Agreement. This Agreement shall be recorded against the Property. 2.2. Ownership of Property. Owner represents and covenants that it is the Owner of the fee simple title to, or has an equitable interest in,the Property or a portion thereof. 2.3. City Council Findings. The City Council finds that: 2.3.1. This Agreement is consistent with the City's General Plan. Ordinance No. NS-3087 Page 12 of 41