Agmt26 Mecah Ventures Reimbursement Agreement - 1330 El Camino Real

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REV: 07-08-26 MI City to provide services to City regarding the Proposed Project (individually “Consultant” and collectively “Consultants”) including the current scope and budget for such Consultants. Developer agrees that City will charge actual staff time and expenses attributable to the administration of any contracts with Consultants entered into by City under this Agreement. (b) On a quarterly basis, City will provide to Developer the amount remaining available for billing in the Evergreen Deposit Account (defined below) Section 4.02. Evergreen Deposit Account. (a) City shall establish a deposit account or fund designed to ensure that City is never required to perform work for which reimbursement funds have not been previously deposited (“Evergreen Deposit Account”). The Evergreen Deposit Account shall contain funds necessary to cover three months’ worth of budgeted expenditures by City relating to City’s review, evaluation, consideration, and processing of the Proposed Project (including any CEQA review necessary for such review, evaluation, consideration, and processing). The City shall transfer the remaining Initial Deposit into the Evergreen Deposit Account and Developer shall fund the Evergreen Deposit Account by depositing with City in the form of a cashier’s check or wire transfer on or before the Effective Date sufficient funds to ensure the Evergreen Deposit Account is funded with at least Seventy-Five Thousand Dollars ($75,000). in the form of a cashier’s check or wire transfer to ensure Developer shall replenish the Evergreen Deposit Account on a quarterly basis until termination of this Agreement pursuant to Section 2.02 or Section 5.03 or as long as expenditures made by City relating to City’s review, evaluation, consideration, and processing of the Proposed Project remain unreimbursed, whichever is later. Beginning on the Effective Date, Developer shall replenish the Evergreen Deposit Account by depositing on or before the last day of each quarter the full amount of all invoices delivered by City to Developer within the previous quarter. Thus, for example, on or before March 31, 2026, Developer would replenish the Evergreen Deposit Account by depositing the sum of all invoices submitted by City to Developer during the months of October through end of December 2025. (b) In the event City determines that total invoices for any particular three-month period are likely to exceed Seventy Five Thousand Dollars ($75,000), City may request that Developer increase the total funds available in the Evergreen Deposit Account accordingly. If Developer does not agree to increase the deposited amount, City may adjust its work schedule, including through the adjustment of Proposed Project deadlines, so as not to exceed the amount available in the Evergreen Deposit Account. (c) The Parties acknowledge that deposits to the Evergreen Deposit Account are not a “source of income” within the meaning of the California Political Reform Act (pursuant to California Government Code Section 87103.6). (d) In no event shall City or its Consultants be obligated to perform any work in connection with Developer’s proposal for the Proposed Project, including but not limited ATTY/AGR.2026.193/Mecah Ventures (1330 El Camino Real) (Page 3 of 9)