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[DRAFT] <br /> <br />this Master A~reement or a separate instrument unconditionally subjectino~ the lienholder's <br />interest in the Subject Property to the terms of this Master Agreement. <br /> <br /> ARTICLE 4 <br />TOV~ _.~ cENTER DISTRICT LAND USE CONTROLS <br /> <br /> 4.1 RESTRICTIONS ON DEVELOPMENT. The City agrees to allow Development <br />in accordance with the RTC Controls. No Development or use may be made of the Subject <br />Property or any portion thereof unless such Development or use complies with the RTC <br />Controls. E-X,,,~,L ~ ..... ;'~'~ ;~ c~,:~_ <br />"° v .................. 4-,3The Developer mas, not permit or suffer any <br />Development to occur on any part of the Subject Rr_mpert3' (other than Lot !, Block 3 as <br />identified on the Preliminary Plat or the Cits, Tract) until the Developer satisfies the <br /> <br />conditions precedent described in Section 4.2 below. After the Developer satisfies the <br /> <br />conditions precedent described in Section 4.2 below, the Developer may not permit or suffer <br />an5, Development to occur on any part of the Subject Property owned by thc .... ~,,~cl~other <br />than Lot 1. Block 3, as identified on the Preliminary Plat or the Cit~, Tract) until the Council <br /> <br />has approved Final Plans for a Phase which includes the part of the Subject Property upon which <br />the Development will occur, except as provided in Section 4.4 below. Unless sooner <br />terminated pursuant to the terms hereof, this Master Agreement shall terminate and neither party <br />shall have any further liabili~, hereunder, upon thc later of the full build out of the improvements <br />contemplated by the Master Developlnent Plan, as the same may be amended from time to time, <br />which shall be evidenced by Certificates of Completion having been issued as to all of the <br />Developer's Public improx, ements and ce~ificates of occupan%, as to all of the private <br />improvements, or ........ twolvc~ ~.~r ..... date hereof. <br /> <br /> 4.~2 CONDITIONS SUBSEQUENT TO CITY APPROVAL. Notwithstanding <br />any other provision of this Master Agreement or the RTC Controls, the Developer may not <br />permit or suffer any Developmefit to occur on any part of the Subject Pro_perB' (other than <br />Lot 1. Block 3 as identified on the Preliminary Plat or the Cit~' Tract) until the Developer <br /> <br />has satisfied each of the following conditions subsequent to the City's approval of this <br />Master A~reement: <br /> <br />The Developer must provide the CiW with a phasing plan for the Developer's <br />performance of the .~.dino~ and construction of the storm water <br />improvements described on Exhibit (the "Grading and Storm Water <br />Phasing Plan"), The Grading and Storm Water Phasing Plan must <br />s~ecificaltv describe the Developer's obligations for each phase of the work <br />described on Exhibit and must estabhsh specific commencement and <br />completion dates for each phase of the work described on Exhibit . The <br /> <br />Developer wilI not be deemed to have satisfied this condition subsequent until <br /> <br />the CiD' Eno~oineer has approved the Grading and Storm Water Phasing Ptan_~. <br /> <br />The Developer must deliver to the <br /> <br />a letter of credit for 125% of <br /> <br />the City Engineer's reasonab}e estimate of the cost of performing Phase 1 of <br />the Grading and Storm Water Phasing Plan. <br /> <br />1555730.red <br />V8 tp V6; <br />8/29/03 <br /> <br />12 <br /> <br /> <br />