Agmt98 Pacific Shores Center - Laserfiche WebLink

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the procedures governing creation of a District. Pacific Shores consents to formation of the District and to assessments or taxes ratably allocated to the Project Site by the District. Pacific Shores agrees to have all of the Parcels included within the District. Pacific Shores agrees to cooperate with and use its best efforts to assist City in the formation of District and District's performance of its responsibilities on behalf of City. If permitted by law, the District may also provide for the long-term operation and maintenance of the lighting and landscaping included in the Seaport Boulevard Improvements, and property owners other than Pacific Shores may be participants in the District for purposes of operation and maintenance, even if not included in such district for purposes of construction. In the alternative, City may cause to be formed a landscaping and lighting maintenance district for purposes of ongoing maintenance of the landscaping and lighting included in the Seaport Boulevard Improvements, with participation by Pacific Shores and other property owners benefiting therefrom. (b) Pacific Shores may, by agreement with City through District, design and construct the Seaport Boulevard Improvements, and reimbursement shall be made by District, in such event, for the reasonable costs of constructing such of those facilities designed and constructed by the Pacific Shores, including all design and engineering costs, in accordance with applicable state law. (c) Once constructed, the City shall. subject to City CoWlcil approval, not to be unreasonably withheld or delayed, accept dedication of the Public Facilities and, subject to Pacific Shores' one year warranty secwcd by éi lllainltmance bond approved by the City Attorney, in a sum equal to ten percent of the cost of the improvements so secured. City shall accept responsibility for their subsequent maintenance, repair and improvement. City agrees that Pacific Shores shall not bear any other costs of operation and maintenance of the Public Facilities, except that Pacific Shores shall (i) pay its share of the costs of maintaining the lighting and landscaping of the Seaport Boulevard Improvements and (ii) pay the pro rata share of the costs of operating and maintaIning the Storm Drainage Joint Facilities attributable to storm drainage from the Project Site. by a contract between the City and Pacific Shores or through a maintenance district or equivalent mechanism established by the City to include the Project Site and any other benefitting properties. Cd) City and Pacific Shores both understand that the Other City Facilities have sufficient capacity to accommodate the services intended for Pacific Shores once the Pacific Shores Infrastructure and the Public Facilities have been constructed as provided herein. 10. Exactions. (a) Except as otherwise expressly provided, neither City nor City through District may in connection with the development, construction, use or operation of the Project on the Property impose on Pacific Shores nny new Exaction or any incrcouc in any c¡o;:istiug Exaction, either absolutely or by changing any existing formula for escalation or determination of the Exaction or by altering the basis for computation or determination of the Exaction. K.'þoc\O.'2\OO1J\-",,-,C'TY .0" 19 ".Dee-IS'. AT IS,..