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003 <br />Exhibit„], attached hereto. Additional Parcel No. 3 is presently <br />owned by the City and is described in Exhibit E, attached hereto. <br />The original Parcel, Additional Parcel No. 1, Additional Parcel No. <br />2, and Additional Parcel No. 3 are herein referred to collectively <br />as the "Property.° <br />C. The City has conducted duly noticed public hearings on <br />this proposed Development Agreement pursuant to Government code <br />section 65867 and Resolution No. 82 -98 and has found that the <br />provisions of this Development Agreement and its purposes are <br />consistent with the objectives, policies, general land uses and <br />programs specified in the CityPs General Plan as amended by the <br />General Plan Amendment referenced below (the "General Plan ") . <br />Prior to or concurrently with its approval of this Development <br />Agreement, the City Council of the City (the "City Council ") has <br />also approved: General Plan Amendment 95 -1 and Zoning Amendment AA <br />95 -2. <br />D. As permitted by law,, the City and the Developer desire to <br />establish design and development standards for the entire build -out <br />period of the Development, including all phases thereof, if any, <br />the permitted uses for the Development, and to identify the scope <br />of public infrastructure improvements to be required for, and as a <br />result of, the Development. <br />E. The City, by electing to enter into contractual agree- <br />ments such as this one, acknowledges that the obligations of the <br />City shall survive beyond the term or terms of the present City <br />Council members, that such action will serve to bind the City and <br />future City Councils to the obligations thereby undertaken, and <br />this Development Agreement shall limit the future exercise of <br />certain governmental and proprietary powers of the City. By <br />approving this Development Agreement, the City Council has elected <br />to exercise certain governmental powers at the time of entering <br />into this Development Agreement, rather than deferring its actions <br />to some undetermined future date. The terms and conditions of this <br />Development Agreement have been found to be fair, just and <br />reasonable, and the City has concluded that the pursuit of the <br />Development will serve the best interests of its citizens and the <br />public health, safety and welfare will be best served by entering <br />into this obligation. <br />NOW, THEREFORE, in consideration of the mutual covenants and <br />agreements contained herein, and other good and valuable consider- <br />ation, the adequacy and receipt of which is hereby acknowledged, <br />the parties do hereby agree as follows: <br />1. AR 1p icat on. <br />This Development Agreement pertains initially to the'Original <br />Parcel. This Development Agreement shall apply to Additional <br />Parcels Nos. 1, 2 and 3 at such time as the Developer acquires <br />75D -81 <br />