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

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In addition to the foregoing, City shall require all other property owners benefited by the "All Zones," "Zone B" or "Zone AB" Improvements to pay such property owner's allocable share as set forth in Attachment 2 and/or require such other property owners to participate in any financing mechanism approved by the City, as determined in accordance with this Plan and related studies. City will require each property owner to make such payments by no later than the time each property owner obtains building permits for construction of improvements on such owner's property. 12. Right-of Way Acquisition. The Parties agree that Developer shall have no obligation to acquire right-of-way for any Improvements, and that acquisition of any required right-of-way shall be City's responsibility. If City is unable to acquire applicable right-of-way by the date when construction of an Improvement must commence (pursuant to the phasing plan set forth in Attachment 3), then Developer may proceed with the Project only after Developer deposits with City Developer's allocable share of the cost of such Improvement (as shown on Attachment 2). 13. Development Impact Fees. The Developer shall pay to City the impact fees listed for the purposes described in Attachment 4 (the "Development Impact Fees"). The Development Impact Fees shall be due and payable at the time of the issuance of building permits for the applicable phase of the Project for which building permits are issued, and at the rates in effect at that time. The amounts of the Development. Impact Fees shown on Attachment 4 are for illustrative purposes only, as of the Effective Date of the Agreement, and are not intended to represent the actual Development Impact Fees that Developer would be required to pay during the Term of the Agreement." 14. Off-Site Improvement Costs. So long as Developer pays its full share of costs for off-site improvements attributable to a particular phase of a Project at the time that Developer obtains building permits for the construction of such phase, City agrees that Developer's allocable share of the costs for such off-site improvements shall not be increased. Developer's estimated allocable share of such costs is shown in Attachment 2 to this Infrastructure and Financing Plan; as such, costs and allocations may be amended subject to the terms and conditions of this Agreement and this Infrastructure and Financing Plan. 15. Vested Rights. The parties agree that the list of Public Infrastructure Improvements is intended to address the public infrastructure needs of the Project, and that City shall not require Developer to pay for any additional public infrastructure improvements that serve both the Project and surrounding areas. 16. Incorporation of Attachments. Attachments 1, 2, 3 and 4 are hereby incorporated by reference into this Infrastructure and Financing Plan. ATTY/AGR/2008.013 EXHIBIT D 022708 6