STAPLES RANCH PRE-DEVELOPMENT - Laserfiche WebLink

entering into this Agreement that Vulcan has agreed to forbear rights and remedies, dedicate property and to incur significant additional and potential liabilities, obligations, risks and costs. The parties each also acknowledge and agree the difficulty in determining the precise nature and cost of future potential improvements to El Charro Road, including upgrading of the Interchange, and Vulcan's potential obligation to contribute towards such improvements pursuant to the requirements of Vulcan's SMP. The Jurisdictions acknowledge and agree that, in partial consideration for Vulcan entering into this Agreement, Vulcan shall be deemed to have, and shall have: (a) no obligation at any time to participate in the funding of any of the Improvements; (b) fully satisfied any and all obligations of Vulcan to participate in any funding of lnaintenance and/or improvements to EI Charro Road and/or Fallon Road, the Interchange, or the EI Charro/Jack LondonlStoneridge Intersection (except to the extent that the necessity for further maintenance and/or improvements to EI Charro Road is triggered in connection with a voluntary change of land use on property owned by Vulcan to a use unrelated to quarry operations allowed under Vulcan's SMP); and (c) fully satisfied Vulcan's obligation to contribute at anytime to the costs of any and all future improvements to the Interchange (except to the extent that a voluntary change of land use on property owned by Vulcan to a use unrelated to quarry operations allowed under Vulcan's SMP increases the traffic burden on the Interchange). The Jurisdictions acknowledge and agree that Vulcan's Offer and its agreement to comply with other obligations pursuant to this Agreement shall be deemed to, and shall, fully satisfy the requirements of Conditions 22 through 24 inclusive of Vulcan's SMP, as shown on attached Exhibit G. Vulcan acknowledges that the provisions of this Section 8 do not relieve Vulcan from maintenance or other requirements contained in any other conditions of Vulcan's SMP that do not conflict with the provisions of this Section 8 or other provisions of this Agreement; provided, however, the Jurisdictions agree that no new or additional assessments, fees, use fees, tolls, exactions, taxes or other charges or requirements levied or imposed to fund and/or perform maintenance and/or improvements to EI Charro Road, Fallon Road, the EI Charro/Jack LondonlStoneridge Intersection and/or the Interchange will be levied against Vulcan and/or property owned or operated by Vulcan, except in the event of a voluntary change of land use on property owned by Vulcan to a use unrelated to quarry operations currently allowed under Vulcan's SMP. In no event shall any provision of this Agreement be deemed to constitute a waiver or release by Vulcan of any of its rights to protest or contest any fee, assessment, tax, charge, exaction, dedication or other requirement in connection with any land use approvals related to a change in use of property owned or operated by Vulcan. Subject to the Jurisdictions' and Authority's compliance with this Agreement, Vulcan shall be deemed, by virtue of the provisions of this Section 8, to have relinquished the credit provided to Vulcan pursuant to the provisions of Condition 48 of Vulcan's SMP. The provisions of this Section 8 shall survive the expiration or termination of this Agreement. 9. VULCAN'S EL CHARRO ROAD; NO DEDICATION. 9.1 Vulcan's EI Charro Road. The Jurisdictions and Authority acknowledge and agree that the portion of EI Charro Road south of the EI Charro and Intersection Improvements is to relnain a private road owned by Vulcan and for use solely by Quarry Lands-related traffic, subject to potential future dedication pursuant to the Offer and further subject to the provisions of Sections 3.9 and 7.4. The Jurisdictions further acknowledge and agree that (i) s.uch private road is not open to use by the public or the Jurisdictions, except as expressly permitted by the Temporary License; and (ii) Vulcan reserves the right to block the use of Vulcan's EI Charro Road by anyone who has not fIrst obtained a written license agreement or other written consent from Vulcan in its sole and absolute discretion. 9.2 No Dedication. Without limiting the provisions of Section 9.1, no use at any "time of Vulcan's EI Charro Road or any other portion of the Vulcan Properties by any of the Jurisdictions, any other public agency, their respective designees, or any member of the public, whether pursuant to the Temporary License, through the Hanson Haul Road, or otherwise, shall be construed or deemed to constitute any dedication or offer of dedication, express or implied, of any property or interest therein by 002483.0004\793691.13 17