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with City by Developer for such purpose and that City shall not be required to advance Gity funds or incur any liability to cover such costs and expenses, F. The Parties agree that all costs and expenses incurred and to be incurred by Developer relating to the Project are incurred and shall be borne solely by Developer,regardiess of how City, in its sole discretion, acts upon the Project or processes future applicarions related to the Project. AGREEMENT ARTICLE 1. INCORPORATION OF RECITALS Section 1.01. All of the recitals set forth above are true and correct and are hereby incorporated in this Agreement as if fully set forth herein. ARTICLE 2. EFFECTNE DATE AND TERM Section 2.01. Effective Date. This Agreement shall become effective upan the date this Agreement is fully executed by the Parties (the "Effective Date'�. City acknowledges that Developer deposited an initial sum of Five Thousand Dollars($5,000)to cover City costs,which shali be credited against the amounts due under this Agreement. Subject to the credit set forth in the preceding sentence, Deveioper agrees to reimburse City for its costs incurred in connection with the Project commencing on December 15,2015. Section 2.02. Term. The term of the Ageement (the "Term") shall begin on the Effective Date and shall terminate upon the earlier of {a) the date of termination pursuant to Section 5.43 herein;or(b)issuance of the final Certificate of Occupancy for the Project. ARTICLE 3. RESOLUTION N0. 146Q9 Section 3A1, In General. Developer acknowledges and agrees that the cost recovery principles articulated in Resolution No. 14609 Planning Cost Recovery Policy govern City's consideration of the Project. Developer further acknowledges and agrees that the review, evaluation, consideration,and processing of the Proposal and all related and supporting material, documentation, and data will not occur if Developer does not fund such work in advance, and that City may immediately suspend such work until adequate funds to meet processing costs are deposited with City,or City may terminate this Agreement pursuant to Section 5.03. In the event of any inconsistency between the reimbursement policy of Resolution No. 14609 and this Agreement,the provisions ofthis Agreement shall control. ARTICLE 4. SELECTION OF CONSULTANTS AND FUNDING OF CITY COSTS Section 4.OI. Consultants. (a} Upon entering into this Agreement, City wil! provide Developer with information regarding the consultants, sub-consultants, and/or special legal counsel to be REV:05-12-16 VR Page 2 of 8 RTTY/AGR.2016.101/Greystar IV-1409 EI Camino Reat