Resolution No. 2026-039 – A Resolution Approving the Developer’s Agreement with Andersen Development Inc. for Park Place City Center – Part One, Phase Four, a Planned Development Overlay Site District — I.6

2. The Site shall be developed according to the OPD as approved by the City and according to the plans and specifications as approved by the City. There shall be no variance from the approved OPD plan, or from the construction plans and specifications, unless approved in writing by the City. SECTION 3. TIME OF PERFORMANCE Construction of the public improvements must commence within two (2) years from the date of City approval of OPD Site District, or the approval of the OPD Site District shall be null and void without any action by the City Council. In the event that the Subdivider fails to commence installation of the required public improvements within the above-referenced time, authorization to proceed with the development shall cease, and the Subdivider shall be required to seek reauthorization and approval of this Agreement. Subdivider may, however, request an extension of time from the City. If an extension is granted, it may be conditioned upon updating any security posted by the Subdivider or requiring the Subdivider to provide security to reflect cost increases and extended completion date. SECTION 4. SUCCESSORS AND ASSIGNS This Agreement shall be a covenant running with the land and inure to the benefit of and be binding upon the parties, their successors and assigns. [SIGNATURES ON FOLLOWING PAGE] 2