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Phasing of Development.ÌýOwner and Builder hereby agree that to minimize the financial risk to Owner, Builder shall develop the Project in phases, with a phase typically (but not limited to) approximately ten (10) to twenty (20) Homes (a "Phase" herein). Accordingly, Builder shall submit all budgets and schedules required pursuant to this Agreement on a Phase-By-Phase basis. Budgets and schedules shall set forth Builder's estimates of the proper allocation to particular phases of those items which impact more than one phase of the project.

Phasing of Development.ÌýDevelopment of the Project is expected to occur over the course of ten (10) years. Landowners agree to complete, within five years of the date of this Agreement, to the satisfaction of the City, pursuant to the original conditions of approval, the following: 1. An engineered Grading and Drainage plan for both on-site and off-site improvements. The engineered grading and drainage plan shall be reviewed and approved by the City Engineer. (see Condition 9); and

Phasing of Development.Ìý(a) The Subject Property may be developed in multiple phases. Any approved supplementary final phase plans must be approved pursuant to the City’s LDC. Prior to the issuance of foundation or building permits for any phase of the Project (and prior to any construction of any improvement, building, or structure commencing on the Property), the Owner shall submit for the review and approval of the City site plan or Preliminary Plat for the relevant phase. Each Tract of the Project will include infrastructure to support the proposed uses, including water and wastewater service, drainage, private roads, vehicular, and pedestrian access facilities. All infrastructure necessary to support each phase that is constructed on the Subject Property shall be constructed concurrently with, or prior to construction of that phase of the Project as approved by the City, prior to the issuance of building permits for that phase. Adequate emergency vehicle access and turnarounds shall be provided at all times. No clearing of land may occur until site plan approval is provided for that specific phase of development. (b) Roadways, sidewalks/bikeways and trails shall be constructed concurrently with development of adjacent properties to insure that contiguous walkable sidewalks are available at all times prior to the issuance of any building permits for that phase.

Phasing of Development.ÌýIt is the intent of the Parties that the Town shall reconstruct the improvements to the 56th Street right-of-way pursuant to the 2013 Development Agreement, but that such reconstruction should not be finalized until the Owner has completed all required utility connections or improvements in 56th Street and driveway connections to 56th Street, thus avoiding any cuts or patches in the newly reconstructed 56th Street. Thus, the phasing of any demolition, new private drive and public road improvements, and private development within the Property shall generally be as set forth in this Agreement, the 2013 SUP for Area F, the 2013 Development Agreement, and the 2013 SUP, which allows the Property and the Resort Property to be developed in one or more phases by one or more Owners, including portions east or west of 56th Street and separate phases within each Development Area.

Phasing of Development.ÌýThe first phase of development of the FCC Lease Property shall be up to the 3,000 acres identified in the first Level "B" Plan which shall include approximately 500 acres of employment area, 16,000 dwelling units in seven (7) neighborhoods, and at least one village center all as further detailed in Level "B" Plans. Further phases shall be identified in future Level "B" Plans. The development of the Level "A" Property will be in accordance with the approved Level "A" Plan, as may be amended from time to time.

Phasing of Development.ÌýThe City hereby acknowledges that the development of the Property contemplates that the Project Improvements will be planned, constructed and completed in phases on separate Development Parcels. 13. Section 3.4 of the Development Agreement is hereby amended in its entirety to read as follows:

Phasing of Development.ÌýThe development of the Property in accordance with the Master Plan shall occur in phases as depicted on the Phasing Schedule attached hereto as Exhibit "E". A part of the first phase consisting of approximately 400 building lots in the southern end of the Property shall be physically connected to the existing Meadow Pointe community (the "Meadow Pointe Expansion Parcel"). Following the development of the Meadow Pointe Expansion Parcel and the balance of the first phase, the development shall proceed in additional phases, including a phase in the northern part of the Property that will be accessed from an entrance on State Road 54. Except xxx xxx xxxxe or phases that are accessed from State Road 54, it is anticipated that the development of the Property will be physically connected to the existing Meadow Pointe community. Although the development constructed pursuant to the Phasing Schedule need not be contiguous, all development shall be served by the arterial, collector and other roads constructed in accordance with this Agreement and as shown on the Master Plan, and all utility lines and other infrastructure shall be sized to serve the entire development as shown on the Master Plan. With the Seller's prior consent, which consent shall not be unreasonably withheld or delayed, the Buyer shall have the right, from time to time, to modify the Phasing Schedule, provided such modification does not materially impair or reduce the value of the balance of the Property.

Phasing of Development.ÌýThe Parties contemplate that the Binding Redevelopment Agreement will contain the following provisions: 1. The Development Project will be constructed in multiple phases based on market demand and will be undertaken so as to allow for coordination and relocation of existing retail tenants to new buildings on the Development Property prior to the demolition of the existing structures on the Development Property. 2. Phase I Retail luxury mixed-use development will occur prior to, or concurrent with, the construction of any other building in any other Subarea. 3. No building permit for vertical construction will be issued (though the Developer will be allowed to apply for permits) for any Subarea unless and until a building permit has first been issued for the construction of Phase I Retail.

Phasing of Development.ÌýIt is the intent of the Parties that the Town shall reconstruct the improvements to the 56th Street right-of-way, but that such reconstruction should not be finalized until the Owner has completed all required utility connections or improvements in 56th Street and its driveway connections to 56th Street, thus avoiding any cuts or patches in the newly reconstructed 56th Street. Thus, the phasing of the demolition, new private drive and public road improvements, and private development within the Property shall generally be as set forth in this Agreement and the 2013 SUP, which allows the Property to be developed in one or more phases by one or more Owners, including portions east or west of 56th Street and separate phases within each Development Area.