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L2 Code Authorization. City is authorized pursuant to Government Code <br />Sections 65864 through 65869.5 to enter into Development Agreements with persons having <br />legal or equitable interests in real property for the purpose of establishing certainty for both City <br />and Owner in the development process. City enters into the Agreement pursuant to the <br />provisions of the Government Code and applicable City policies, The parties acknowledge: <br />(1) This Agreement is intended to assure adequate public facilities at <br />the time of development. <br />(Z) This Agreement is intended to assure development in accordance <br />with City's General Plan, applicable Specific Plans and Specific Development District No. 43. <br />(3) This Agreement will permit achievement of goals and objectives as <br />reflected in Government Code Sections 65864 through 65869.5, the City's General Plan, all <br />applicable Specific Plans and Specific Development District No. 43. <br />(4) Owner is required by existing City regulations to provide <br />mitigation for certain impacts and pay certain regulatory fees as conditions of approvals through <br />the regulatory process. <br />(5) This Agreement will allow City to realize extraordinary and <br />significant public infrastructure facilities and other supplemental benefits in addition to those <br />available through the existing regulatory process. <br />(6) Many of the extraordinary and significant benefits identified as <br />consideration to City for entering into this Agreement are of regional significance, relate to <br />existing deficiencies in public facilities, require Owner to contribute a greater percentage of <br />benefits than would otherwise be required, and represent benefits which would not otherwise be <br />required as part of the development process. <br />1.3 Owner. Owner represents and warrants that it bras a legal or equitable <br />interest in the real property' located in City of Santa Ana, California, legally described on Exhibit <br />A attached hereto and incorporated herein, and graphically described on Exhibit B attached <br />hereto and incorporated herein. The Property is currently vacant. <br />1.4 Interest of Owner. Owner hereby represents that it has an equitable and <br />legal interest in the Property, Owner further hereby represents that it has approved this <br />Agreement and is authorized to enter into this Agreement. <br />1.5 Planning Comntissamr - Coiiticll Ileacfngs, Lin Pdeveier�L?999 tlxe <br />lrlattri3rng- CoMnrissiotro' �'rrg- Ue3suarissior " , r gtng tine prrsuan# to <br />3Elsieirrl3eai -ccic °- c' o' ctm" rsv{ �nzo- anfl- 61} eld.- a- ptkliliEl1G4417.tY- fSBtlr1<-1@r cc.icstul DcYrr""r's <br />app}icatiosrfar lle?9(1 C A <br />tgraernefllt. T-ji lantiin9 "s; _ o ende& -City <br />Cetieeil- a€Cn}rr,,- �h;�- ik- e�;c -i-i1 �q� zb- �� °���- rhpril -4; X08-5; the- City -C��ho <br />C t} �fSanta 'a e�iaer ° , ovvtdr rg r p c° aTregtiireel key taw, hold a F„rxkriie-laearing -to <br />eorns i+f er- Ceastal- P�irm- '.riper' isat- ir}irffx� lie-= 2983- Agtt�etnt��}-ri elrthe- CoLrnsil- a}?1yr- ove�by <br />75 A?34 <br />