Laserfiche WebLink
<br />funding of the Citywide Traffic Impact Fee or other Funding Program provided, <br /> <br />however, that the total amount of the refund to Owner by City (including any <br /> <br />refund under Section 2.04) shall not exceed in any way the sum of $285,880.00 <br /> <br />if the Citywide Traffic Impact Fee or other Funding Program is adopted or the <br /> <br />sum of $385,000.00 if no Citywide Traffic Impact Fee or other Funding Program <br /> <br />is adopted. <br /> <br />Section 2.02. Relocation Costs. (a) Subject to the following provisions of <br /> <br />this Section 2.02, Owner's fair share for the Relocation Costs has been <br /> <br />calculated by the City to be 17% of the Relocation Costs. Owner agrees to pay <br /> <br />same as set forth below. The Relocation Costs shall be due and payable within <br /> <br />thirty (30) days from the date of City's written demand for payment. City's <br /> <br />demand for payment of the Relocation Costs shall be made upon receipt of <br /> <br />estimates (the "Estimated Amount") from the Engineering and Planning Divisions <br /> <br />of the City of Redwood City. Upon completion of the Sewer Main Project, the City <br /> <br />shall either (1) send a demand to Owner for the payment of, and Owner shall pay <br /> <br />upon receipt of demand, the difference between the Estimated Amount plus <br /> <br />interest accrued thereon and the actual cost of the Relocation Project (the <br /> <br />"Actual Cost") in the event that the Actual Cost is higher than the Estimated <br /> <br />Amount plus interest accrued thereon; or (2) provide Owner with a refund <br /> <br />representing the difference between the Estimated Amount plus interest accrued <br /> <br />thereon and the Actual Cost if the Estimated Amount plus interest accrued <br /> <br />f/sh/sh/RC/council <br />AGMT-232 <br />02/08/00 <br />9:21 AM <br />FXS/fs/ <br /> <br />8 <br />