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PART 2. OBLIGATIONS OF OWNER <br /> Section 2.01. Execution of the Project. On or before December 1, 2016 the Owner <br /> will commence execution of the Project to include building renovation and remodeling, <br /> landscaping, signage and related improvements in conformance with plans and specifications <br /> approved by the City's Department of Planning and Development Services. The Owner will <br /> pursue completion of the Project with commercially reasonable diligence, subject to Force <br /> Majeure events as defined in Section 5.05 below. The Owner, in executing the Project, shall <br /> comply with all requirements of all applicable City of San Marcos processes, procedures, <br /> ordinances, rules, regulations and standards. <br /> Section 2.02. Employment. In conjunction with the Project, the Owner will employ at <br /> least 6 full-time and 75 part-time employees locally with estimated wage rates as follows: <br /> a. Manager 6: $40,000 annually <br /> c. Staff 78: $20,700 annually <br /> PART 3. ECONOMIC DEVELOPMENT WAIVER PROVIDED BY THE CITY <br /> Section 3.01. Waiver of Certain Land Development Code Requirements. As to the <br /> Project, the waiting periods for the sale of alcohol for on-premises consumption under Section <br /> 4.3.4.2 (b) (8) of the LDC are hereby waived. <br /> Section 3.02. Waiver Limited. <br /> a. Applies Only to Owner's Initial CUP. The waiver granted under <br /> Section 3.01 is subject to approval of a request for a CUP by the City's Planning and <br /> Zoning Commission. If said request for a CUP is approved, the waiver granted herein <br /> shall apply only to such initial CUP and any timely renewals thereof. Upon the <br /> expiration, revocation or lapse of said CUP, the waiver granted herein shall automatically <br /> terminate, and any future applicant for a CUP related to the sale of alcoholic beverages <br /> from the Property, whether the Owner or any other person or entity, shall be required to <br /> apply for a new CUP, subject to the then applicable requirements for the approval of such <br /> a CUP under the LDC or other ordinance. <br /> b. Subject to Other Requirements. The waiver granted in Section 3.01 is <br /> subject to all other required approvals of the City under applicable ordinances, rules, <br /> regulations and standards. Except as specifically granted herein, the City grants no other <br /> waivers of any requirements under the LDC or its Code of Ordinances. The granting of <br /> the waiver through this Agreement is not a guarantee, representation or indication by the <br /> City regarding the likelihood of approval of any other applications, permits or requests <br /> related to the Project, including the initial request for the CUP to which this Agreement <br /> relates, or any certificates of occupancy. <br />