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PUD-Master Plan and the redevelopment of the area included in Phase II shall <br />comply with 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 phases. <br />C. Section �5)(A)(,_ 3). Arden Plaza shall apply for a PUD-Final Plan for Phase III of <br />the Redevelopment Project no later than June 1, 2014 or, at least forty-�ve (45) <br />days prior to such date, shall request an extension of time to apply for the PUD- <br />Final Plan for Phase III. Failure to either apply for approval or an extension <br />within the required time periods means that any redevelopment of the area <br />included in Phase III shall require an amendment to the PUD-Master Plan and the <br />redevelopment of the area included within Phase III shall be in compliance with <br />the then current City regulations. <br />D. Section 5(B�2� Arden Plaza shall �le the Final Plat with Ramsey County no <br />later than June l, 2011. <br />IN WITTIESS V��HEREOF, the City and Arden Plaza have caused this Amendment <br />No. 1 to be executed as of the date and year �rst above written. <br />3 <br />