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City Draft <br /> 6/28113 <br /> TABLE 4F CONTENTS <br /> Page <br /> TABLEOF CONTENTS................................................................................................................I <br /> ARTICLE I GENER.AL PROVISIONS ....................................................................................... 2 <br /> 1.1 Detined Terms. In addition to the usage of certain words,terms or <br /> phrases that are defined in the initial paragraph,the Recitals or in the body <br /> of this Agreement, the following words,terms and phrases are used in this <br /> Agreement, as follows, unless the particuIar context of usage of a word, <br /> term or phrase requixes another interpretation:......................................................2 <br /> 1.2 Depasit. The Developer shall,prior to or concurrently with the execution <br /> of this Agreement, establish and fand a deposit account{"Deposit <br /> Account")with the City designed to ensure that, except as otherwise <br /> provided herein, City is never required#o perform work for which <br /> reimbursement�unds ha�e not been previously deposited{the "Deposit"). <br /> The Developer shall fund the Deposit initially by depositing the amount of <br /> Five Hundred Thousand DolZars ($500,000) to pay costs associated with <br /> the planning and approvals to be paid for by the Developer as provided in <br /> this Agreement, and, further, as security for the performance of the <br /> obligations of the Developer to be performed prior to the credit and/or <br /> return of the Deposit to the Developer as provided herein,or its retentian <br /> by the City as liquidated aamages. ...................................................................... I� <br /> The Parties acknowledge that the Developer previously established and <br /> mainta.ined a deposit account in the initial axnount of One Hundred Fifty <br /> Thousand Dollars ($150,004} ("Initial Deposit")pursuant to a <br /> Reimbursement Agreement between Developer and City dated August 16, <br /> 2012 ("Reimt�ursement Agreement")entered into ir�implernentation of the <br /> Cost Recovery Policy established by the City by Resolution No. 14609 <br /> adopted in September 2004. The Reimbursement Agreement terminated <br /> upon the parties' execution of this Agreement. Any funds remaining in <br /> the Initial Deposit that are not expended for City expenses pursuant ta the <br /> Reimbursement Agreement may be carried over and considered a portion <br /> of the Deposit required under this Agreement..................................................... 14 <br /> ARTICLE 2 PROPERTY DISPOSITION................................................................................... 16 <br /> 82483.0000917571312.10 i <br />