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5.0 REZONING The CITY conducted a combined hearing on January 2, 2002 (Planning Commission - hearing on Preliminary Plat, Rezoning, and Concept Development Plan) and on March 4, 2002, Final Plat and to consider various aspects of the Planned Unit Development zone designation consistent with the residential development. The CITY agrees to zone the subject property to PUD, subject to the DEVELOPER's strict compliance with the approved plans, and terms and conditions of this Agreement. Minor variations from the approved final development plans, which are consistent with this agreement and the underlying Single Family Residence District (R-1) for Lot 1 through Lot 7, Owasso Ridge, may be approved by the CITY's Development Review Committee, under the direction of the Community Development Director, as provided in the Roseville City Code (Section 1008). Substantial departures from the approved final development plans will require an amendment to the Planned Unit Development in accordance with Sections 1004, 1008, 1010, 1012 and 1015 of the Roseville City Code. Where not superseded by the more restrictive requirements of this PUD, the standards of the underlying Single Family Residence District (R- 1) for Lot 1 through Lot 7, and all areas held in common interest, Owasso Ridge, shall apply, as stated in Chapter 1004 of the Roseville City Code. 6.0 DEVELOPMENT of PROPERTY Failure by the DEVELOPER to commence development activity in accordance with the final development plans within one year of the effective date of this Planned Unit Development will necessitate the approval of an extension of the development schedule by the City Council prior to the expiration of the one year period. If an extension is not applied for, the Council may instruct the Planning Commission to initiate rezoning to the original R-1 zoning district or to a zoning designation consistent with the Comprehensive Plan. For purposes of this provision, development activity shall be defined as obtaining a building permit and beginning project construction on the site. Development of the property and installation of improvements shall be in accordance with the development schedule provided by the DEVELOPER and approved by the CITY (E�ibit �. 7.0 COMPLIANCE with LAWS and REGULATIONS The DEVELOPER represents to the CITY that any site improvements pursuant to the proposed Development will comply with all City, County, Regional, Metropolitan, State, and Federal laws and regulations, including but not limited to the Roseville Subdivision Regulations, the Roseville Zoning Regulations, and all other applicable environmental regulations. The DEVELOPER agrees to comply with all such laws and regulations. 3