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<br />... <br /> <br />.. . <br />between the City and any other party shall not be upon terms 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 Revised Offer, <br />the City shall be free 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 (60) 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 /> <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 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 />Section, 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 . trict, the Developer's Right of First Offer, as defined by <br />his e 10 a null d oid ado force and effe <br /> <br /> <br /> <br /> <br /> <br />Notwithstanding any provisions herein to the contrary, the <br />First Offer obligation of the City shall expire on November 24, <br />2003, if no earlier than 60 days prior to that date and no later <br />than November 24, 200~, the City notifies the Developer in <br />writing that the First Offer obligation of the City te~inates on <br />November 24, 2003. If such notice is not given by November 1, <br />2003, then the First Offer obligation shall expire on . <br />November 24, 2008. <br /> <br />276768.10 <br /> <br />44 <br />