RecDoc 2010-115130 (2) - Laserfiche WebLink

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for relocation of the RSW Pump Station and that said dedication completely and forever fulfills the Developer's obligation for the RSW Pump Station Bridge Element. The Developer's allocable share to be paid ratably for the Blomquist Bridge and /or Bridge Elements shall be $2,851.00 per Residential Equivalent. 8. Financing Sources City and Developer agree to use best efforts to pursue state, federal and local sources of funds, including the Blomquist Bridge Fund, to assist in financing the Improvements. Without limiting the generality of the foregoing, City and Developer agree to cooperate in efforts to obtain financing through the Statewide Communities Infrastructure Program ( "SCIP "), the California Infrastructure and Economic Development Bank, and other sources including without limitation, the formation of a CFD. 9. Right -of -Way Acquisition The Parties agree that neither Developer nor the developer(s) of the Hotel and community- serving retail space described in the Precise Plan shall have any obligation to acquire right -of -way for any Improvements, and that acquisition of any required right -of -way shall be City's responsibility. 10. Development Impact Fees The Developer or the developer(s) of the Hotel and community- serving retail space described in the Precise Plan, as applicable, shall pay to City the impact fees listed for the purposes described in Attachment A (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 Revised Project and Hotel and retail space 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 A 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 or the developer(s) of the Hotel and community- serving retail space described in the Precise Plan would be required to pay during the Term of the Agreement, said actual fees to be determined at the time of issuance of each building permit. 11. Off -Site Improvement Costs. City agrees that the obligations of Developer and the developer(s) of the Hotel and community- serving retail space described in the Precise Planto pay their respective allocable share of the costs for each Improvement shall not be increased, provided that each such developer pays its allocable share of the costs related to each such Improvement in accordance with this Amended Plan at the time of issuance of certificates of occupancy for each dwelling unit constructed on the Property or at such other time specified in this Amended Plan. Notwithstanding anything to the contrary set forth herein, unless another source of financing is identified for such Improvements, and subject to reimbursement in accordance with this Amended Plan, Developer shall be obligated to initially fund, or construct and install, as determined by the City, the Bair Island Road Improvements (defined in Section 2 above) even if the cost of such improvements exceeds the Estimated Cost set forth in Section 2 above. S:ATTY /AG R/2010.111/EXH I BIT3 9/28/10 7