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<br />will be reimbursed to Owner or credited against Owner's share of the Citywide <br /> <br />Traffic Impact Fee or other Funding Program pursuant to Section 2.01. <br /> <br />Section 2.03 Use of Funds. All funds received from Owner shall be <br /> <br />deposited by City and be used specifically for the improvements of East <br /> <br />Bayshore Road to Blomquist Street, construction of Roadway Improvements, the <br /> <br />restriping and widening of East Bayshore Road, the Sewer Main Project and/or <br /> <br />other traffic mitigation improvements in the vicinity of the Project. <br /> <br />The sum of <br /> <br />Three Hundred Sixty Thousand Dollars ($360,000) is intended to be used for the <br /> <br />Improvements on the Roadway Widening. Notwithstanding any language to the <br /> <br />contrary in this Agreement, City shall, regardless of whether the improvements <br /> <br />are made or not on the Roadway Widening, and regardless of Owner's fair share <br /> <br />pursuant to a Citywide Traffic Impact Fee or other Funding Program, retain the <br /> <br />sum of (I) $460,000.00 if the City adopts the Citywide Traffic Impact Fee or other <br /> <br />Funding Program, or (ii) $360,000.00 if the City does not adopt the Citywide <br /> <br />Traffic Impact Fee or other Funding Program and use any money not expended <br /> <br />on the Roadway Widening for other purposes provided that such sum shall be <br /> <br />credited against Owner's fair share of the Citywide Traffic Impact Fee or other <br /> <br />Funding Program as contemplated by Section 2.01. <br /> <br />Section 2.04 Schedule of Improvements. <br /> <br />(a) The construction of the improvements contemplated herein, except for <br /> <br />the construction of the Emergency Access, is contemplated to begin within two <br /> <br />f/sh/sh/RC/council <br />AGMT-232 <br />02/08/00 <br />9:21 AM <br />FXS/fs/ <br /> <br />10 <br />