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i (5) This Agreement will allow City to realize extraordinary and significant public infrastructure facilities and other supplemental benefits in addition to those available through the existing regulatory process. (6) Many of the extraordinary and significant benefits identified as consideration to City for entering into this Agreement are of regional significance,relate to existing deficiencies in public facilities,require Owner to contribute a greater percentage of benefits than would otherwise be required and/or pay such benefits sooner,and represent benefits which would not otherwise be required as part of the development process. 1.2 Owner. Owner represents and warrants that it has a legal or equitable interest in the real property located in City of Santa Ana,California,legally described on Exhibit A attached hereto and incorporated herein,and graphically described on Exhibit B attached hereto and incorporated herein(hereinafter the"Property). The Property is approximately 4.339 acres in size and is currently occupied by commercial and residential development. 1.3 Interest of Owner. Owner hereby represents that it has an equitable and legal interest in the Property. Owner further hereby represents that it has approved this Agreement and is authorized to enter into this Agreement. 1.4 Planning Commission-Council Hearings. On June 14,2004,the Planning Commission of the City("Planning Commission"),after giving notice pursuant to Government Code Sections 65090 and 65091,held a public hearing to consider the Owner's application for this Agreement_ The Planning Commission recommended to the City Council of City that it execute this Agreement. On July 6,2004,the City Council of the City of Santa Ana C'Council'), after providing notice as required by law,held a public hearing to consider the Owner's application for this Agreement. 1.5 Council Findings. The Council finds that this Agreement is consistent with the General Plan,applicable Specific Plan(s)as well as all other applicable ordinances, plans,policies and regulations of the City. 1.6 City Ordinance. On July 19,2004,the Council adopted Ordinance No rS-2G56 approving this Agreement. The ordinance and this Agreement becomes effective thirty(30)days thereafter. 2. DEFINITIONS. In the Agreement,unless the context otherwise requires: 2.0.5 "Force Ma jeuxe"shall mean delays of performance by either party hereunder due to war; insurrection;strikes; lockouts; labor disputes; riots, floods; earthquakes; fires;serious rain or inclement weather;casualties,acts of God;acts of the public enemy; epidemics; quarantine restrictions;freight embargoes; lack of transportation;acts of the other party-,acts or failure to act of the City or any other public or governmental agency or entity(other than acts or failure to act of the City shall not excuse performance by the City);litigation or arbitration; referendum;or any other cause beyond the control,or without the fault of the party claiming an extension of time to perform; provided that notice by the party claiming such 2