Agmt82 DDA Redwood Shores Inc. GID 1-64

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1 construction contract. Such interest shall be computed at the average rate of all interest earned during the same period of time by the City on the investment of its public monies in securities r or other certificates of indebtedness pursuant to the Charter of the City of Redwood City. (c) Interest on monies deposited into the Fund shall accrue t to the bencfi� .f the Fund. Investment of monies within the Fund r. shall mature not later than the date or dates at which the monies N therein will be needed for the purposes of the Fund and shall be limit,d to only such investments as are allowed by the laws of the C State of California and the Charter of the City of Redwood City. Pooled investments shall be encouraged. The monies in the Fund shall i not be loaned or made available to City for General Fund purposes, or to District for purposes other than as set forth in this } agreement. 6. Facilities Charge. (a) Pursuant to, and in furtherance of this agreement, there is hereby established a Facilities Charge ("Charge") imposed upon tba owners of the real property described in "Exhibit B," and payable by each applicant for a building permit for the construction of any re:idential and any commercial unit t: C' within and upon said real property described in "Exhibit B." Said N Charge snag] be .i, the amounts set forth in Table 4 of "Exhibit A" (the "Rate Scheaule") as applicable to residential units or commercial equivalent dwelling units (both hereinafter referred to at "E.D.U.'s"), as the case may be,, provided, however, that the charges contained in the Rate Schedule shall be subject to quarterly review and revisions by mutual consent of the parties hereto, in accordance with the provisions of paragraph 8. Said Rate Schedule shall provide for a commercial equivalent to an individual residential dwelling per 5