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facility/office, or construction offices will be decommissioned or transferred over as a <br />one of the 120 single-family residences. <br /> NOW, THEREFORE, in consideration of the recitals (which are incorporated <br />into the Agreement by this reference) and for other good and valuable consideration, the <br />receipt and sufficiency of which are hereby acknowledged, the County and the Applicant <br />agree as follows: <br /> <br />AGREEMENT <br /> <br />1. Effective Date and Termination. <br />1.1 Effective Date. The Effective Date of this Agreement is the last date upon <br />which it was signed by the Parties hereto. <br />1.2 Term. This Agreement shall be effective for five (5) years consistent with <br />Exhibit G E “Phasing Plan”; provided, however, that the term of this Agreement shall <br />may be automatically extended should the Applicant seek and justify requests for <br />extension to the satisfaction of the Director prior to the expiration of the term. for the <br />effective life of any required permit or approval, plus any approved extensions thereof, <br />for the development contemplated herein, so long as a complete application for such <br />permit or approval has been received prior to the expiration date of this Agreement. <br />Upon expiration of such period, or as may be extended above, this Development <br />Agreement shall automatically terminate. Upon the County granting the Final Plat for the <br />last phase of the Project this agreement shall automatically terminate. <br />1.3 Termination. This Agreement may be terminated at any time, in writing, <br />by mutual agreement of the Parties to this Agreement. <br />2. Definitions. <br />For purposes of this Agreement, the following terms, phrases, words, and their <br />derivations shall have the meaning given herein where capitalized; words not defined <br />herein shall have their ordinary and common meaning as provided in Webster’s <br />dictionary. When not inconsistent with the context, words used in the present tense <br />include the future, words in the plural number include the singular number, words in <br />the singular number include the plural number, and the use of any gender shall be