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ARTICLE 3. RESOLUTION NO. 14609 <br /> Section 3.01. In General. Developer acknowledges and agrees that the cost recovery <br /> principles articulated in Resolution No. 14609 Planning Cost Recovery Policy govern City's <br /> consideration of the Project. Developer further acknowledges and agrees that the review, <br /> evaluation, consideration, and processing of the Proposal and all related and supporting material, <br /> documentation, and data will not occur if Developer does not fund such work in advance, and <br /> that City may immediately suspend such work until adequate funds to meet processing costs are <br /> deposited with City, or City may terminate this Agreement pursuant to Section 5.03. In the event <br /> of any inconsistency between the reimbursement policy of Resolution No. 14609 and this <br /> Agreement,the provisions of this Agreement shall control. <br /> ARTICLE 4. SELECTION OF CONSULTANTS AND FUNDING OF CITY COSTS <br /> Section 4.01. Consultants. <br /> (a) Upon entering into this Agreement, City will provide Developer with <br /> information regarding the consultants, sub-consultants, and/or special legal counsel to be <br /> retained by City to provide services to City regarding the Project including the current scope and <br /> budget for such Consultant. Developer agrees that City will charge actual staff time and <br /> expenses attributable to the administration of Consultant Contracts entered into by City under <br /> this Agreement. <br /> (b) On a monthly basis, City will provide to Developer a summary report on <br /> the fees incurred by City's team of Consultants and City staff, the percentage of the deposit that <br /> has been expended by City on its evaluation of the Project, and the amount remaining available <br /> for billing. <br /> Section 4.02. Evergreen Deposit. <br /> (a) City shall establish and Developer shall fund a deposit account designed to <br /> ensure that City is never required to perform work for which reimbursement funds have not been <br /> previously deposited ("Evergreen Deposit"). The Evergreen Deposit shall contain funds <br /> necessary to cover three months' worth of budgeted expenditures by City relating to City's <br /> review, evaluation, consideration, processing of the Project (including any CEQA review <br /> necessary for such review, evaluation, consideration, and processing), and negotiation, analysis, <br /> drafting and implementation of any agreements between the parties related to the Project - i) the <br /> month in which work is being done, ii) the month in which invoices are being prepared for the <br /> prior month's work; and iii) the month those invoices are being reimbursed by Developer. <br /> Developer shall fund the Evergreen Deposit initially by depositing with City on or before the <br /> Effective Date the sum of FIFTY THOUSAND DOLLARS ($50,000) in the form of a cashier's <br /> check. Developer shall replenish the Evergreen Deposit on a monthly basis until termination of <br /> this Agreement pursuant to Section 2.02 or Section 5.03 or as long as expenditures made by City <br /> relating to City's review, evaluation, consideration, processing of Developer's proposal for the <br /> Project, and negotiation, analysis, drafting and implementation of any agreements between the <br /> Page 3 of 10 <br /> 82483.00019\9492109.3 <br />