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(4) The DO and Development Agreement will be amended to confirm that all 1,596 units for <br />Waterway Village will be vested for traffic concurrency consistent with and for the periods set <br />out in paragraph 5 below, provided DiVosta complies with its obligations in paragraphs 1-3 <br />above and all other obligations under the DO and DA. If DiVosta does not comply with its <br />obligation following written notice of such non-compliance and a 60 -day opportunity to cure, <br />then the vesting for traffic concurrency will terminate. <br />(5) Permits for units of Waterway Village will be issued in staged increments as follows: <br />(a) 711 of the 732 units in Phases I and II have already been vested (as it related to traffic <br />concurrency only). Provided DiVosta complies with its obligations as described in paragraph 4 <br />above, said units shall be vested for traffic concurrency through 2016. <br />(b) In 2012, 150 additional units shall be available to pull building permits by 2019. <br />Provided DiVosta complies with its obligations as set forth in paragraphs 1-4 above, said units <br />shall be vested for traffic concurrency through 2019. <br />(c) In 2013, 150 additional units shall be available to pull building permits. Provided <br />DiVosta complies with its obligations as set forth in paragraphs 1-4 above, said units shall be <br />vested for traffic currency through 2020. <br />(d) In 2014, 150 additional units shall be available to pull building permits. Provided <br />DiVosta complies with its obligations as set forth in paragraphs 1-4 above, said units shall be <br />vested for traffic concurrency through 2021. <br />(e) In 2015, 150 additional units shall be available to pull building permits. Provided <br />DiVosta complies with its obligations as set forth in paragraphs 1-4 above, said units shall be <br />vested for traffic concurrency through 2022. <br />(f) In 2016, 150 additional units shall be available to pull building permits. Provided <br />DiVosta complies with its obligations as set forth in paragraphs 1-4 above, said units shall be <br />vested for traffic concurrency through 2023. <br />(g) In 2017, 114 additional units shall be available to pull building permits. Provided <br />DiVosta complies with its obligations as set forth in paragraphs 1-4 above, said units shall be <br />vested for traffic concurrency through 2024. <br />30 <br />July 21, 2009 <br />