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<br />engineering costs. If Flatirons begins construction of the Flatirons Facilities on or <br /> <br />before the Facilities Commencement Date, City through District shall, no later than <br /> <br />the date Flatirons begins construction of the Flatirons Facilities, do the following: <br /> <br />(i) <br /> <br />Place the Flatirons Facilities on District's Priority Project List; and <br /> <br />(ii) <br /> <br />Reserve $1,739,000 in District funds for the reimbursement of <br /> <br />Flatirons for the Construction Costs. <br /> <br />(f) <br /> <br />City through District shall reimburse Flatirons periodically during <br /> <br />construction for the Construction Costs as follows: <br /> <br />(i) <br /> <br />Every 90 days, City through District shall reimburse Flatirons for <br /> <br />80% of the Construction Costs incurred for which Flatirons has <br /> <br />date. <br /> <br /> <br />not previously been reimbursed prior to the reimbursement <br /> <br />(ii) <br /> <br />At any time the total Construction Costs minus the Construction <br /> <br />Costs for which Flatirons has previously been reimbursed equal <br /> <br /> <br />or' exceed $250,000, but no more than once in any 30-day period, <br /> <br />City through District shall reimburse Flatirons for 80% of the <br /> <br />Construction Costs incurred for which Flatirons has not <br /> <br />previously been reimbursed prior to the reimbursement date. <br /> <br />(iii) <br /> <br />No later than 30 days after acceptance by the City Council of the <br /> <br />Flatirons Facilities, City through District shall reimburse <br /> <br />Flatirons for all Construction Costs incurred prior to the <br /> <br />reimbursement date for which Flatirons has not been previously <br /> <br />been reimbursed. <br /> <br />-17- <br /> <br />DV AGR0'3.DOC <br />August 26, 1996 <br />