RecDoc 2018-088890 Strada Development Agreement 1548 Maple, LLC

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(2) The Impact Fees itemized on Exhibit J represent the Parties good faith effort to identify the Existing Impact Fees applicable to the Project including applicable escalators as set forth in the City's Existing Impact Fee resolutions or, where applicable, the Default Escalator. City and Developer agree to amend and restate Exhibit J, as necessary, in the event one or more Existing Impact Fees have been inadvertently omitted or if any escalation provisions have been inadvertently misstated or miscalculated. B. Processing Fees. Subject to Developer's right to protest and/or pursue a challenge in law or equity to any new or increased Processing Fees, City may charge and Developer agrees to pay all Processing Fees which are in effect on a City-wide basis at the time permits, approvals, or entitlements are applied for. C. Connection Fees. Developer shall pay Connection Fees assessed by utility providers and other agencies assessing such fees at the rates in effect from time to time. D. Other Agency Fees. Nothing in this Agreement shall preclude City from collecting fees from Developer that are lawfully imposed by another agency having jurisdiction over the Project, which City is required to collect pursuant to Applicable Law ("Other Agency Fees"). Section 6.2 Impact Fee Credits. A. In General. In consideration of Developer's agreement to (i) construct and install certain upsized water main improvements; (ii) improve the Trail Parcel, construct, install and maintain in perpetuity the Bay Trail Improvements and dedicate the Trail Easement to City; and (iii) construct and dedicate to City the Blomquist — County Segment and Blomquist — Developer Segment (or in lieu thereof pay to City the County/Developer Segments In Lieu Payment as more particularly set forth in Section 3.3 above) (collectively, the "Developer In Kind Contributions"), City and Developer have agreed that Developer shall be entitled to certain Existing Impact Fee credits as set forth in this Section 6.2 and in Exhibit J. This Section 6.2 shall be deemed an application for the Existing Impact Fee credits if such credits require an application under the City's Municipal Code. Further, this Section 6.2 shall control over any contrary provisions applicable to Impact Fee credits in the City's Municipal Code. The eligible Existing Impact Fees for which Developer shall receive partial credit in consideration of the Developer In Kind Contributions are as follows: Parks Impact Fee, Water Fee and Transportation Impact Fee (collectively, the "Eligible Existing Impact Fees"). Developer shall not be eligible to receive credits towards any Impact Fees other than the Eligible Existing Impact Fees and Developer shall not be entitled to any credit against Eligible Existing Impact Fees for the costs associated with the Offsite Undergrounding or any other contributions, Exactions, or public improvements other than the Developer In Kind Contributions identified above. Developer agrees to assume the risk that the costs incurred in connection with the construction, installation and/or dedication, as applicable, of the Developer In Kind Contributions may exceed the estimated hard and soft cost amounts as shown on Exhibit J. In such event Developer shall bear at its sole expense, and City shall have no obligation to reimburse Developer or provide additional Eligible Existing Impact Fee credits for, such cost overruns. The total amount of each Eligible Existing Impact Fee as of the Effective Date calculated based on an assumed Project size of 131 residential units, the agreed upon credit amount 29 OAK 94843-3885-9090 v1 I ATN/AGR/2018.094/STRADA DEVELOPMENT AGREEMENT REV: 07-27-18 VR Page 29 of 94