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A. PUD- Master Plan. <br />1. Arden Plaza shall apply for and obtain building permits for Phase 1 of the <br />Redevelopment Project no later than July 13, 2010 or, at least forty -five <br />(45) days prior to such date, shall request an extension of time to obtain <br />building permits for Phase 1. Failure to either obtain building permits or <br />request an extension within the required time periods means that any <br />redevelopment of the area included in Phase I may require an <br />amendment to the PUD- Master Plan and shall require compliance with <br />the City's then current development regulations. <br />2. Arden Plaza shall apply for the PUD -Final Plan for Phase 11 of the <br />redevelopment project no later than July 13, 2012 or, at least forty -five <br />(45) days prior to such date, shall request an extension of time to apply <br />for the PUD -Final Plan for Phase 11 of the Redevelopment Project. <br />Failure to apply for either and approval or an extension within the <br />required time periods means that any redevelopment of the area <br />included in Phase 11 shall require an amendment to the PUD- Master Plan <br />and the redevelopment of the area included in Phase 11 shall comply with <br />the then current City regulations. Arden Plaza shall provide yearly <br />updates to the City at the end of each year regarding the status of future <br />phases. <br />3. Arden Plaza shall apply for a PUD -Final Plan for Phase 111 of the <br />Redevelopment Project no later than July 13, 2013 or, at least forty -five <br />(45) days prior to such date, shall request an extension of time to apply <br />for the PUD -Final Plan for Phase III. Failure to either apply for approval <br />or an extension within the required time periods means that any <br />redevelopment of the area included in Phase 111 shall require an <br />amendment to the PUD- Master Plan and the redevelopment of the area <br />included within Phase 111 shall be in compliance with the then current <br />City regulations. <br />4 <br />5 <br />The Redevelopment Project shall be completed in accordance with the <br />Redevelopment Plan Documents as amended by the conditions of <br />approval. Any significant changes to the Redevelopment Plan <br />Documents, as determined by the City Planner, shall require review by <br />the Planning Commission; and review and approval by the City Council. <br />Arden Plaza shall provide yearly updates, on the anniversary date of the <br />City's approval of the PUD- Master Plan, to the City regarding the status <br />of Phases 11 and III. <br />