Agmt10 R.C. Peninsula Park, LLC (2)

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The Developer acknowledges that any lack of availability of amounts in the Improvement Fund to pay the Purchase Price of Facilities or any Discrete Components thereof shall in no way diminish any obligation of the Developer with respect to the construction of or contributions for public facilities required by the Conditions of Approval. Section 3.04. City Fees . The City and the Developer agree that amounts deposited to the Improvement Fund may also be used by the City to pay, or reimburse the Developer for payment of, City Fees. In the event that any City Fees have been paid, or are paid from time to time by the Developer, the City will reimburse the amounts so paid from amounts in the Improvement Fund upon submission of evidence to the City satisfactory to the City Engineer as to the amounts so paid and the respective entity entitled to reimbursement of the amount so paid.. The amount of any deposit to the Improvement Fund shall in no way fix the amount of the City Fees due with respect to the parcels in the CFD. This Acquisition Agreement shall in no way be construed as a deferral of any City Fees otherwise due with respect to the parcels in the CFD. ARTICLE IV CONSTRUCTION OF FACILITIES Section 4.01. Plans. To the extent that it has not already done so, the Developer shall cause Plans to be prepared for the Facilities in accordance with the Conditions of Approval and Developer's timing of development of the property within the CFD. All Plans shall be subject to review and approval by the City, in its sole discretion. Unless required as a part of Plan preparation, no work shall be commenced until the Plans have been approved by the City, in writing. Copies of all Plans shall be provided by the Developer to the City Engineer upon request therefor, and, in any event, as built drawings and a written assignment of the Plans for any Facility shall be provided to the City prior to its final acceptance of the Facility. Section 4.02. Sole Duty of Developer to Construct. All Facilities to be acquired hereunder specified in Exhibit A and Exhibit B hereto, as amended from time to time, shall be constructed by or at the direction of the Developer in strict accordance with the approved Plans and the Conditions of Approval. The Developer shall perform all of its obligations hereunder and shall conduct all operations with respect to the construction of Facilities in a good, workmanlike and commercially reasonable manner, with the standard of diligence and care normally employed by duly qualified persons having special expertise and competence in the performance of comparable work and in accordance with generally accepted practices appropriate to the activities undertaken. The Developer shall employ at all times adequate staff or consultants with the requisite experience necessary to administer and coordinate all work related to the design, engineering, acquisition, construction and installation of the Facilities to be acquired by the City from the Developer hereunder. The Developer shall be obligated: (i) to complete the construction in strict accordance with all requirements of the approved Plans and cause conveyance to the City of all Facilities and -7-