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F # <br />between the City and any other party shall not be upon terns and <br />conditions more favorable than those contained in the First <br />Offer. If the City offers a development agreement to any other <br />party with terms and conditions more favorable than those <br />contained in the First Offer, the city shall provide Developer <br />with written notice of such terms and conditions (the 'Revised <br />Offer"). Upon receipt of the Revised offer, the Developer shall <br />have 15 business days to accept such Revised offer. In the event <br />that Developer fails to accept the Revised offer within 15 <br />business days after receipt from the city of the Devised offer, <br />the City shall be f ree to enter into a development agreement upon <br />the terms and conditions contained in the Revised offer with such <br />other party within the next sixty (6 o) days. The Developer's <br />failure to exercise its rights under this Section for any <br />development in the Twin Lakes Development Subdivision shall not <br />constitute a waiver of its continuing rights in the future when <br />any portion of the Subdistrict becomes available for development <br />by the City. <br />The terms and conditions of this Section shall survive the <br />satisfaction and payment in full of the advances made under <br />Section 3.2 hereof, the payment in full to the City of the amount <br />due the City under Section 3.3 hereof, the termination ion of this <br />Agreement or the city taking title to all or any part of the <br />Redevelopment Property. In the event that the Developer and the <br />City enter into any other development agreement pursuant to this <br />Sectioft, and the Developer is in material compliance with this <br />Agreement and any other subsequent development agreement with the <br />City for property located within the Twin Lakes Development <br />Subdistrict, such development agreement shall contain a Right of <br />First Offer on any other development for all or any portion of <br />the Twin Lakes Development Subdistrict, pursuant to the terms and <br />contained in this Section. During the continuance of an Event of <br />Default under this Agreement or the equivalent thereof under the <br />terms and conditions of any subsequent development agreement with <br />the City for property located within the Twin Lakes Development <br />S tri ct , the Developer's Right of first Offer, as defined by <br />is a io a null, d jLd a d o force ad of f e <br />Notithetand.ing any provisions herein to the contrary, the <br />First offer obligation of the city shall expire on November 24, f� <br />2003, i f no earlier than 6.0.. ,days prior to that date and later <br />than November 24, 2003, the city notifies the Developer in <br />- writing that the First offer obligation of the city terminates on <br />November 24, 2003. I f such notice is not given by Nove mber 1, f <br />2003, then the First offer obligation shall expire on j <br />November 4, 2008. <br />276768.10 44 <br />