040405 Jt PH Cond Use, Develpo Agmt, Zoning, etc.-Geneva Commons Proj 200 E. First American Way

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If to Owner, to: Coastal Rim Properties, Inc. Geneva Commons, LLC 139 East Alton Avenue Santa Ana, California 92707 Attention: Franco Mola telefaesimile: (714) 708 -0873 A party may change its address by giving notice in writing to the other party. Thereafter, any notice, tender, demand, delivery, or other communication shall be addressed and transmitted to the new address. If sent by mail, any notice, tender, demand, delivery, or other communication shall be effective or deemed to have been given three (3) days after it has been deposited in the United States mail, duly registered or certified, with postage prepaid, and addressed as set forth above. If sent by telefacsimile, any notice, tender, demand, delivery, or other communication shall be effective or deemed to have been given twenty -four (24) hours after the time set forth on the transmission report issued by the transmitting facsimile machine, addressed as set forth above. For purposes of calculating these time frames, weekends, federal, state, County, or city holidays shall be excluded. 5. DEVELOPMENT OF THE PROPERTY. 5.1 Existing Rules, Regulations and Policies. The rules, regulations and official policies governing the permitted use(s) of the Property, with respect to and only with respect to the permitted use(s) density, height, size of structures and intensity of use of the Property, shall be those rules, regulations, and policies applicable to the Property as of the effective date of this Agreement. 5.1.1 Cooperative Agreement for Off -Site Improvements. The Owner and the City, together with other parties, have concurrently executed a Cooperative Agreement for Off -Site Improvements, a true and connect copy of which is attached hereto as Exhibit D and incorporated herein by this reference. Owner agrees to comply in all respects with its obligations under said Agreement, and agrees and acknowledges that a material breach of said agreement shall constitute a material breach of this Agreement.