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7C Page 255 Projeci's allocable share, City shall reimburse Develaper far Developer's Excess Costs together with the addi�ional sums described in Section 8. Attaclunent 2 sets forth the estimated cost of each Zone B, Zone AB, and All Zones Improvement. 8.2 Mana€;ement and Administration Fee. If City requi.res Developer to manage and ad2ninister any of the Zone B, Zone AB or All Zones Improvements, then the total cost of such Improvements shall include a management and administrative fee("Management and Administration Fee")payabie to Developer equal to fifteen percent(IS%) of the third-party costs Developer incurs in connection with the planning, design and eonst7-u.ction of such I�nprovements. The 1Vlanagernent and Administration Fee shall be coz�sidered a part of the cost of const�-uction or installation of the applicable �mprovement a�1d sh.all be added to the estimated cost of such Iinprove�nent as set forth in Attachmetzt 2. 8.3. Interest. Interest shall accrue and be payable to Developer at a rate ec�ual to two percent (2%) in excess of the rate of interest most recently announced by Bank of America, NT & SA (or its successor. Uank} at its San Francisco office as its "prime rate." I�Zterest sliall accrue on the outstar?ding amount of the Excess Costs incurred by Developer coFnmencing on the forty- fifth (45t") day following the date Devel�per delivers an invoice for such costs to City through the date tl�at the Excess Cosis covered by such invoice are paid to Developer in full. 8.4 Repavment Date. City shall pay Excess Costs and tlie other sums payable to Developer pursuant to tlus Plan ratably as the Czty collects payi��ents from.property owners in the Area of Benefit(defi�zed below) and/flr the date City receives funding from other sources; provided however, notwiflistanding the rate at which City may collect such funds or receive such. fundulg, City agrees to pay all sums payable to Developer pursuant to Section 8 by no later than ihe date which is: (i) three(3) years follovving the date that Developer substantially completes the applicable Improvement(s), or(ii)if City has elccted not to have Developer manage and administer construction of the Improvernent(s), tl�ree(3} years following the date Developer furzds tlle Excess Costs and delivers an invoice therefor ta City. 9. Area of Benefit. The All Zones Improvements identzfied in Section 4 will benef t the Project and those addational properties identified on Attaclunent 1 (co2lectively,the Project together with suclz additioilal benef ted properties compri.se the "Area of Benefit"). The Area of Benefit was established pursuant#o a study dated Oetober 15, 2007 conducted by the City of Redwood City Engineerii�g and Constru�tion Department. 1.0. Farmula for Allocation of Costs. Attachment 2 sets forth City's estimate of the cost of each of the AIl Zones In�provements and a fornzula for allocation of sucll costs among the properties located in the Area of Benefit. As provided in Attach.znent 2,the costs and allocation of such costs shall be reviewed annually for p�ssible revision. 1026609-8 $ t2-12-07 4:06 PM 1060930v4 33786/0012