Agmt08 R.C. Peninsula Park, LLC - Laserfiche WebLink

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applicable, Excess Costs (defined in Section 8.1), then, subject to the conditions set forth in Sections 7.2 and 7.3, Developer shall fund Developer's allocable share and Excess Costs by no later than 120 days following the date Developer receives the City Notice. Within such 120-day period, the Parties agree to execute a reimbursement agreement addressing payment of Excess Costs, if applicable, related to the specific Priority All Zones Improvement that is the subject of the City Notice. In no event shall City deliver a City Notice prior to the time that the Project has received all required federal, state and local approvals. For any All Zones Priority Improvement, City may require Developer to pay Excess Costs only if City has not already collected such Excess Costs pursuant to this Agreement. The City may give Developer notice to fund Developer's allocable share of additional Priority All Zones Improvements only after Developer has been fully reimbursed for all previously-funded All Zones Priority Improvements in accordance with Section 8. If City elects to require Developer to manage and administer construction of any All Zones Priority Improvement, Developer's obligation will be to commence the planning, design and construction of such Improvement within 120 days following Developer's receipt of the City Notice. The Parties agree that the provisions of this Section 7.2 are not intended to and shall not override the alternative method of compliance with respect to the All Zones Water Storage Improvements set forth in Section 5 above. 7.3 City Funding for Blomquist Bridge. The City acknowledges that the sum of Five Million Dollars ($5,000,000) has been set aside in a separate City fund dedicated for the planning, design and construction of the Blomquist Bridge. If City elects to give Developer notice of early construction of the Blomquist Bridge (i.e., prior to City's approval of the final map that includes the 500th residential unit in the Project), such City funds shall be used to finance the first costs of such Improvement, and Developer will be obligated to provide funds only after the City funds have been fully expended. 8. Reimbursement of Excess Costs. 8.1 Reimbursement of Excess Costs. As used in this Plan, "Excess Costs" means those costs for Zone B, Zone AB and All Zones Improvements incurred by Developer in excess of the Project's allocable share as set forth in Attachment 2. In any case, where City requires Developer to fund the planning, design or construction of Improvements in excess of the Project's allocable share, City shall reimburse Developer for Developer's Excess Costs together with the additional sums described in Section 8. Attachment 2 sets forth the estimated cost of each Zone B, Zone AB, and All Zones Improvement. 8.2 Management and Administration Fee. If City requires Developer to manage and administer 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") payable to Developer equal to fifteen percent (15%) of the third-party costs Developer incurs in connection with the planning, design and construction of such A TTY/AGR/2008.013 EXHIBIT 0 022708 4