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other applicable provision of this E1Ejt -A-mD L _ !taSe I Development Agreement. 6,9.,E 6;8- Timing of Development. The parties acknowledge that Owner cannot at this time predict when or if the Property will be developed. Such decisions depend upon numerous factors which are not within the control of Owner such as market orientation and demand, interest rates, absorption, completion and other similar factors. Because the California Supreme Court held in Pardee Construction Co. v. City of Camarillo (1984) 37 Cal. 3d 465, that the failure of the parties therein to provide for the timing of development resulted in a later adopted initiative restricting the timing of development to prevail over such parties' agreement, it is the parties' intent to cure that deficiency by acknowledging and providing that except as provided in and subject to Section 5.11, Owner shall have the right to develop the Property at such rate and at such time as Owner deems appropriate within the exercise of its subjective business judgment. WN W E0e_"-_ 8 Additional Offsite Mitigation Measures. The offsite mitigation measures (i.e., which clarify mitigation measures set forth in the Project entitlements) which must be constructed by Owner are as set forth in Exhibit CO to this Etcst_ Amended and R erg De eIggrtl -ant Agreement. All funds or casts for offsite mitigation measures required pursuant to the approvals set forth in section 2.4 of this First Amendnd and Restated Developrnen Agreement shall be paid or security provided therefor in conformance with the provisions of the Subdivision Map Act, no later than recordation of the final subdivision map for the Project, or issuance of the first building permit for the Project, whichever comes first. 5.1,Q q— Irrevocable Offer to Dedicate Easements or Land To Implement Public Realm Improvement Plan. On the face of the final map for the Project, or contemporaneous with offering the final map for filing with the County if it is not placed on the final map, Owner shall execute an irrevocable offer to dedicate to the City such property interest (easement for the breezeway /lane along the t��aza2aaa�«�as xuaava _tq_ 75A -70