Agmt00 Pacific Shores Dev - Laserfiche WebLink

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reallocate the shanng of costs based on additional calcalate~d contributing peak flows for th 100 year storm event to thc Storm Drainage.Joint Facilities from additional properties serwd. For purposes of such reallocation, it shall be assumed that tbe contributing flows for the Property are 12.36 cubic feet per second and the contriboted flows for City property are 13.93 cubic feet per sccon~ 3. City shall initially incur all costs of operation and maintenance ~nd shall bill Pacific Shores not more frequently than quarterly and nol less f:requentiy than annuelly for Pacific Shores' share of such costs. Pacific Shores shall reimburse City for Pacific Shores' share of costs within 30 days oftbe receipt of the invoice for same. In the event that any paymant is not IT~e wh~II due Pacific Shore~ shall bc obligated to pay City int~sest at the rate often percent per annum until paid. 4. This Agreement shall be binding on the successors and assigns to both parties. In the event of the c~ention of an association of pwperiy owners for thc lot~ within the Property, Pacific Shores shall hav~ the ri~ht to assi~ all of its dufie~ mid obligations hereunder to such association. In the event that any person or entity, including such an association; b~comas tl~ su~'ccssor-in-title to the Corm*non Parcels, as deemed in th~ Development Ai~rnent, such person or entity shall be d~mecl the assignee of Pacific Shor~s pursuant to this A~reerru~nt and shall be deemed to have assumed its obligations hereunder, without any further action r~quired by City or Pacific Shores. 5. This Agreement shall be t~overned by the laws of thc State of Cali£omia.