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Henderson in September 1985 and that judgment has not been <br />appealed. <br /> <br /> D. Economic conditions including the need to pace <br />development of custom lots and the longer time frames involved <br />with each purchaser getting his own contractor and architect <br />makes a longer development period appropriate. <br /> <br /> E. The existing development deferment agreement between the <br />parties provided for eight (8) sewer permits to be exercised by <br />November 16, 1985. Four (4) of those building permits have <br />already been exercised. Four (4) permits could not be exercised <br />for the aforementioned reasons and pursuant to this agreement the <br />time for their exercise shall be extended to November 16, 1987. <br />There are seventeen (17) remaining unused sewer permits. <br /> <br /> NOW, THEREFORE, in consideration of the mutual promises below <br />and the sum of $100.00 being paid to City as a processing fee <br />concurrently herewith, the parties agree as follows: <br /> <br /> The time within which building permits can be obtained for <br />the remaining 17 lots by Developer without expiration of the <br />specified sewer permits shall be in accordance with the following <br />schedule: <br /> <br />Number of Permits <br /> <br />Expiration Date <br /> <br />8 11/16/86 <br />9 11/16/87 <br /> <br />- 2 - <br /> <br /> <br />