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that the most efficient and economic development of the Property depends upon numerous <br />factors, such as market orientation and demand, interest rates, competition and similar factors, <br />and that generally it will be most economically beneficial to the ultimate purchaser of the <br />Property to have the rate of development determined by the Developer. The parties agree that the <br />Preliminary PUD, Conditional Use (CUP) and Plat approvals for the development will be in full <br />force and effect for the full term of this Development Agreement as set forth in Section 9, above. <br />The Preliminary PUD/Plat/CUP may be further extended upon request by the Developer and <br />mutual agreement of the parties for an additional period of time as may be requested by the <br />Developer and approved by the County provided that any such amendment or extension shall <br />follow the process established by law for the adoption of a Development Agreement (see RCW <br />36.70B.200). <br />Section 16. Permitted Uses and Development Standards. As community infrastructure and <br />urban levels of services are put into place, the permitted uses, the density and intensity of use, the <br />maximum height and size of proposed buildings, provisions for reservation and dedication of <br />land or payment of fees in lieu of dedication for public purposes, the construction, installation <br />and extension of public improvements, development guidelines and standards for development of <br />the Property shall be those set forth in the Project, the permits and approvals identified therein, <br />and all exhibits incorporated therein may be amended by application of Developer and approval <br />by the County. <br />As the Development is put in place, By-laws and Codes, Covenants and Restrictions will be <br />formulated addressing the implementation of Boards for the overall community, as for the <br />residential uses (single family and townhomes owners) and storage complex (storage owners). <br />Section 17. Further Discretionary Actions. Developer acknowledges that the Existing Land Use <br />Regulations contemplate the exercise of further discretionary powers by the County, which <br />powers are to be exercised reasonably and without undue delay or conditions. <br />Section 18. Existing Land Use Fees. Land use fees adopted by the County by ordinance as of <br />the Effective Date of this Development Agreement may be increased by the County from time to <br />time, and the same may be applicable to permits and approvals for the Property, provided such <br />fees must be otherwise lawful, must be equally applicable and must be applied equally to similar <br />applications and projects within the County. <br />Section 19. Default. <br />19.1 Subject to extensions of time by mutual consent in writing, failure or delay by <br />either party or Landowner not released from this Development Agreement to perform any <br />material term or provision of this Development Agreement shall constitute a default. In the event <br />of alleged default or breach of any terms or conditions of this Development Agreement, the <br />parry alleging such default or breach shall give the other party or Landowner not less than thirty <br />(30) days' notice in writing, specifying the nature of the alleged default and manner in which <br />said default may be cured. During this thirty (30) day period, the party or Landowner charged <br />shall not be considered in default for purposes of termination or institution of legal proceedings. <br />Development Agreement — Page 8 of 12 <br />