RecDoc2023-000975 Harbor View Property LLC.

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contribute its fair share to improvements to the Maple StreetNeterans Boulevard Intersection project. Developer will pay to City the MapleNeterans Fair Share Contribution prior to the issuance of the first building permit for the Project. For the avoidance of doubt, Developer shall not be eligible to receive any credit towards Impact Fees as result of payment of the MapleNeterans Fair Share Contribution. Section 6.4 BIorn uist Bride Project Contribution Credit. Developer shall receive certain credits against the Blomquist Bridge Project Contribution, as set forth in this Section 6.4. The Blomquist Water Main Improvements Credit and the Pump Station Improvement Credit shall be calculated prior to Developer's required payment of the Blomquist Bridge Project Contribution and Developer shall pay the Blomquist Bridge Project Contribution as set forth in Section 3.5C minus the Blomquist Water Main Improvements Credit and the Pump Station Improvement Credit. A. Blomquist Water Main Improvement Credit. Developer shall be entitled to a credit against the Blomquist Bridge Contribution in the amount of $612,238, plus the product of $612,238 times the percentage increase in CCI between the Effective Date and the date on which such payment is made, for the estimated cost of the Blomquist Water Main Improvements (`Blomquist Water Main Improvements Credit"). B. Pump Station Improvement Credit. Pursuant to MMRP Mitigation Measure HYD -5, Developer is required to install a new redundant duty pump at the Oddstad Pump Station and a new redundant duty pump at the Seaport Pump Station ("Pump Station Infrastructure"). The Pump Station Infrastructure shall be required by the approved VTTM for the Project and shall be included in the Subdivision Improvement Agreement defined in Section 3.6 above. Mitigation Measure HYD -5 also provides that Developer shall be entitled to a credit for costs of the Pump Station Infrastructure above the proportionate share of potential new development attributable to the Project, as determined by City ("Pump Station Improvement Credit"). The costs of the Pump Station Infrastructure shall be determined and set forth in the Subdivision Improvement Agreement based on plans and specifications approved by City. City shall determine the Pump Station Improvement Credit based on the amount of the costs of the Pump Station Infrastructure above the proportionate share of potential new development attributable to the Project. Developer shall be entitled to the Pump Station Improvement Credit, as determined herein. ARTICLE 7. ANNUAL REVIEW Section 7.1 Periodic Review. A. Purpose. As required by California Government Code section 65865.1, City and Developer shall review this Agreement and all actions taken pursuant to the terms of this Agreement with respect to the development of the Project every 12 months following the Effective Date to determine good faith compliance with this Agreement. Each annual review shall also document: (i) the status of the Project development; and (ii) any extension of the Initial Term of this Agreement pursuant to Section 4.2C above. ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT REV: 10-28-2022 VR 21