Agmt82 DDA Redwood Shores Inc. GID 1-64

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I f pursuant to paragraph 8, unless otherwise agreed to by the parties and approved as an Amendment in accordance with paragraph 14. As of the date of termination of the agreement or termination of the Fund, whichever comes later, any monies remaining in the Fund shall be disposed of in the following manner and priority: to complete facilities projects for which Fund monies (as opposed to commitments of Redwood Shores) have been committed; to reimburse Redwood Shores pursuant to paragraph 8; and finally, toward retirement of the debt 12 A li upon other obligations that the parties or their successors may incur nr have incurred with respect to the development of the subject real property. 4 j 11. To rmin a ti on; _Disposi tion of Fund_. (a) 7`nis agreement U U way be terminated with or without cause by any of the parties hereto o H upon sir. (6) months prior written notice at any time after one (1) S year fro,a the effective date hereof; provided that, should such t0 termination o,cur, the parties hereto shill fulfill thos, •: t U 'per, obligations already incurred prior to termination pursuant to 0 paragraph 8. In the event any party hereto desires to terminate this agreement, Notice of Intention to terminate shall be given by - o � - a City in the manner provided by Government Code Section 65857; and the t ! _ V x termination c[ the agreement shall be effected, on behalf of City and District, by motion of the City Council, also acting as the Dear^ or directors of the District, at a regularly scheduled meeting noticed 1 as described above. � 9 (b) Upon termination of this agreement, the City's right to ( T collect facilities charges and to maintain the Fund established by r. ' J�.� paragraphs 5 ani 6 of this agreement will cease, except as necessary •e . !:,•'.- ,{ to complete construction projects for which Fund monies have heen i2'!f ' committed prior to termination, and/or to reimburse Redwood Shores pursuant to paragraph 8, unless otherwise agreed to by the parties and approved as an Amendment in accordance with paragraph 14. As of the date of termination of the agreement or termination of the Fund, whichever comes later, any monies remaining in the Fund shall be disposed of in the following manner and priority: to complete facilities projects for which Fund monies (as opposed to commitments of Redwood Shores) have been committed; to reimburse Redwood Shores pursuant to paragraph 8; and finally, toward retirement of the debt 12 A li