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TABLE OF CONTENTS <br />Page <br />ARTICLE 1 RECITALS AND GUIDING PRINCIPLES 1 <br />1 1 The City and the Developer have entered into a Memorandum of <br />Undeistanding dated April 11, 2003 pioviding preliminary guidelines foi <br />the creation and execution of this Master Agreement 1 <br />1 2 The City has created the Town Center Distnct under the Zoning <br />Ordinance and the City will create a Town Center Review Board, as <br />contemplated in the Zoning Ordinance 1 <br />1 3 The City has determined that the Developer's Master Development Plan is <br />consistent with the City's Comprehensive Plan and with the RTC <br />Ordinance 1 <br />14 On August 12, 2003, the Council approved the Developei's Preliminary <br />Plat for the Subject Property subject to the conditions subsequent set forth <br />in the resolution approving the Prelimmary Plat 1 <br />1 5 The City and the Developer intend that the Subject Property will be <br />developed and used as the RTC Project in accordance with the RTC <br />Contiols 1 <br />1 6 The City and the Developer agree that the Developer may seek to create <br />Development through the use of one or more Secondary Developers, and <br />that Secondaty Developers may increase the benefits to the City through <br />increased Development 1 <br />1 7 The City and the Developer acknowledge that the following principals <br />have influenced the discussions and negotiations leading up to this Master <br />Agreement and expect that these principals will continue to influence the <br />Development of the Subject Property pursuant to this Master Agreement 1 <br />1 8 The Subject Propeity is bounded on the south by railroad nght-of way 2 <br />ARTICLE 2 DEFINITIONS 2 <br />21 DEFINITIONS 2 <br />ARTICLE 3 REPRESENTATIONS AND WARRANTIES 10 <br />3 1 REPRESENTATIONS AND WARRANTIES OF THE CITY 10 <br />3 2 REPRESENTATIONS AND WARRANTIES OF THE DEVELOPER 10 <br />3 3 DEVELOPER'S OBLIGATION TO EXECUTE AND RECORD THIS <br />AGREEMENT AND THE MASTER FINAL PLAT 10 <br />ARTICLE 4 TOWN CENTER DISTRICT LAND USE CONTROLS 11 <br />4 1 RESTRICTIONS ON DEVELOPMENT 11 <br />4 2 CONDITIONS SUBSEQUENT TO CITY APPROVAL 11 <br />4 3 APPROVAL OF FINAL PLANS FOR A PHASE 11 <br />4 4 FINAL PLATS 12 <br />4 5 HOMEOWNERS' ASSOCIATIONS AND RESTRICTIVE <br />COVENANTS 12 <br />4 6 INCONSISTENCY AMONG RTC CONTROLS 12 <br />4 7 CHANGE OF ORDINANCES 13 <br />l »>730v 11 <br />-1- <br />