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E. The Parties desire to enter into this Agreement to implement the reimbursement <br /> policy of Resolution No. 14609 and to cover the costs incuned and to be incurred by City in <br /> connection with the negotiation, analysis, drafting and implementation of the potential <br /> development agreement. Developer understands that its funding of such costs is at its sole risk <br /> and that nothing in this Agreement is or shall be construed to control or limit the City's exercise <br /> of discretion with respect to any aspect of evaluating the Project, its ultimate determination to <br /> enter into a development agreement, nor shall it be construed as making any commitment <br /> regarding the granting of any entitlements for development. Developer further acknowledges and <br /> understands and accepts the risk that the City may elect not to negotiate a proposed development <br /> agreement with Developer for any portion of the Property and to discontinue this process <br /> completely at any point whatsoever. <br /> F. Developer acknowledges and understands that if City and Developer are <br /> successful in negotiating a development agreement for Developer's proposal for the Project, <br /> Developer shall be required to fund City's costs associated with obtaining any land use approvals <br /> or entitlements in furtherance of development of the Project. In addition, such development or <br /> other agreement shall require Developer to pay for City's expenses. The parties intend that cost <br /> recovery by the City for expenses associated with the review, evaluation, and processing of any <br /> future applications for development of the Project will be governed either by the proposed <br /> development agreement being negotiated by the Parties ar, alternatively, by another <br /> reimbursement and processing agreement. <br /> G. The Parties intend that as a result of this Agreement, by implementing the <br /> reimbursement policy, all costs and expenses associated with City's review, evaluation, <br /> consideration, processing of the Project, and negotiation, analysis, drafting and implementation <br /> of the potential development agreement, including but not limited to compensation for all City <br /> employee staff time and payment of all third party consultant contracts including legal <br /> consultants, shall be paid using funds deposited in advance with City by Developer for such <br /> purpose and that City shali not be required to advance City funds or incur any liability to cover <br /> such costs and expenses. <br /> H. The Parties agree that all costs and expenses incurred and to be incurred by <br /> Developer relating to the Project, including negotiating the terms and the proposed development <br /> agreement, are incurred and shall be borne solely by Developer, regardless of how City, in its <br /> sole discretion, acts upon the Project, whether or not City ultimately enters into a development <br /> agreement, or processes future applications related to the Project. <br /> AGREEMENT <br /> ARTICLE l. INCORPORATION OF RECITALS <br /> Section 1.01. All of the recitais set forth above are true and correct and are hereby <br /> incorporated in this Agreement as if fully set forth herein. <br /> REV:OS-13-15 VR <br /> Page 2 of 10 <br /> ATTY/AGR2015.094/JAY PAUL COMPANY/HARBOR VIEW PROPERTY LLC <br />