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Reimbursement: Following the DEVELOPER' s payment of Capacity Charges, the COUNTY shall reimburse the DEVELOPER based on an itemized invoice of the installed material on a complete basis — less 10% retainage, monthly, with final payment and release of retainage at the time the above referenced facilities are dedicated to and accepted by the County. Reimbursement shall be in the form of a check from the COUNTY, and shall not exceed the amount of $23 ,455 . 05 (see attached Exhibit- B ) . The DEVELOPER ' s contribution toward installation of the gravity sewer is $21 , 177 .25 . The following table identifies the COUNTY ' s and DEVELOPER' S contribution towards the project. Description Amount Remark Developer' s Share $21 , 177 . 25 Upset value, not to be exceeded County' s Share $23 ,455 . 05 Estimated Cost Total Project Estimate $443632 . 30 B . Future installation of 8 " PVC ravity on 110'h Street Reimbursement: The COUNTY shall reimburse the DEVELOPER based on an itemized invoice of installed materials on a complete basis after the above-referenced facilities are dedicated to and accepted by the COUNTY. The funds to reimburse the DEVELOPER shall derive from the connection charges of other properties that use the constructed lines and facilities based on their share of the hydraulic capacity used . The COUNTY ' S obligation to make reimbursement to the DEVELOPER shall expire ten ( 10) years from the date of this Agreement. (See Exhibit "D" and "E") Future payments to the DEVELOPER: If and when a sewer project is authorized on 110'hStreet in the next ten ( 10) years, the DEVELOPER will be reimbursed by the COUNTY for a portion of the gravity sewer along 110"' Street, less the DEVELOPER' S share. The reimbursement formula will be derived as follows : There are 16 single-family lots (one ERU each) and two duplex lots (two ERU ' s each), which can be partially served by this gravity sewer system along 110'hStreet (See Attachment 1 , Exhibit "D"). Today' s cost of installing this gravity sewer along 110'h Street is estimated to be $72,292 .60 (See Exhibit "E"). This cost of $72,292 . 60 would be added to the above $44, 632 . 30 for a total project cost of $ 116 ,924 .90 . Based on 20 ERU ' s ( 16 ERU plus 4 ERU), the cost per ERU is $ 116,924 .90 divided by 20 ERU or $ 5 , 846 . 25 . Since the DEVELOPER is developing 2 ERU, his share would be $ 11 , 692 . 50 ($ 5 , 846 . 25 times 2) . $21 , 177 .25 less $ 11 ,692 . 50 equals $9 ,484 . 75 to be reimbursed to the DEVELOPER as future customers connect to the system. $9,484 . 75 distributed by the 18 remaining ERU equals $526 . 93 per ERU to be reimbursed to the DEVELOPER as others connect to the system up to a ten ( 10) year period from the date of execution of this agreement. 2 . Amendment: This Agreement may be modified only by a written instrument executed by all parties to the Agreement. 3 . Assignability: Either party may assign this Agreement. However, the rights granted herein shall run with the land and are not the personal property of the DEVELOPER. Therefore, while the DEVELOPER has the right under this Agreement to freely transfer the rights and obligations granted by this Agreement, the assignee shall not have the right to transfer these rights to another property unless this Agreement is amended in writing by the assignee and the COUNTY. f � Page 2 F:\UTILITIES\UTILITY - ENGINEERING\PROJECTS - UTILITY CONSTRUCTION PERMITS\REYES DUPLEX UCP # 2360\AGREEMENT - DEVELOPERS AGREEMENT -OFFSITE GRAVITY SEWER REYES DUPLEX 200C