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NOW, THEREFORE, in consideration of the mutual promisee and <br />covenants contained herein, the Parties hereto agree as follows: <br />1. Limit on new develg &Mt in the IBC. <br />The parties hereto agree and stipulate that, as of the date of <br />this Agreement, Irvine has approximately 39,846,000 square feet of <br />development within the IBC. Except as otherwise provided in this <br />Agreement, Irvine agrees that it will not issue building permits <br />fot development in the IBC which would cause the total development <br />in the IBC (presently existing development- plus development <br />occurring after the date of this Agreement) to exceed 51,000,000 <br />square feet until after the following street improvements, located <br />in the City of Santa Ana, have been completed: <br />(a) The widening of Dyer Road to eight (8) lanes from a point <br />commencing just east of the SR -55 freeway northbound <br />direct connector on -ramp to and including the Redhill- <br />Dyer/Barranca Avenue intersection', as provided in the IBC <br />SIR mitigation measures (numbers l.a. and 2.p.) (the <br />"Roadway Improvements "). <br />(b) An Alton Avenue overcrossing of the SR -55 freeway with <br />high occupancy vehicle northbound and southbound drop <br />ramps, as provided in the IBC SIR mitigation measures <br />(numbers l.d and 3.b.) (the "Interchange Improvements ") . <br />Irvine further agrees that in the event that, notwithstanding <br />Irvine's agreement to limit the issuance of building permits as <br />abovesaid, the total development in the IBC does exceed 51,000,000 <br />square feet prior to the completion of the Roadway Improvements and <br />F=131%00170- R10A120229t2.1 11/20M 2 <br />I <br />