1987-142 - Laserfiche WebLink

Home Browse Search

• 3. if the entire Reserved ERUs are not reasonably expected to be needed for the Property, the County may reclaim the excess ERUs (the "Excess ERUs") for resale by written instrument, the original of which shall be recorded in the public records of the County and a copy of which shall be sent to the Property owner. Upon receipt of payment for the Excess ERUs and any impact fees and special assessments in connection therewith by the County from the purchaser of the Excess ERUs, the County shall refund to the owner of the Property as of the date the Excess ERUs were reclaimed an amount equal to the amount paid prior to the date the Excess ERUs were reclaimed for the Excess ERUs and any impact fees and special assessments in connection therewith, exclusive of interest and costs associated therewith; provided, however, that the County's obligation to make such refund shall be limited to the amount received from such resale. The County will be under no obligation to find a purchaser for the Excess ERUs. Any amounts received by the County from the purchaser of the Excess ERUs in excess of the amount refunded shall belong to the County. 4. Commencing with the first month following completion of the Project, the Property owner will be required to pay monthly base facilities charges established by the County. In the event the base facilities charge with respect to any unused Reserved ERUs is not paid within 30 days after becoming due and payable and after demand of the County, such unused Reserved ERUs may be reclaimed by the County in the manner set forth in paragraph 3 and the County shall be entitled to resell such unused Reserved ERUs. Upon any such resale, the County shall make a refund in the amount and manner set forth in paragraph 3, provided that the County shall deduct from the refund the amount of monthly base facilities charges due and accruing to the date of the resale of the unused Reserved ERUs. 5. It is expressly understood and agreed that one of the purposes of this instrument is to prohibit speculation in wastewater treatment plant and transmission capacity. THE UNDERSIGNED, the owner of the Property defined above, for himself and his heirs, executors, personal representatives, successors and assigns, for value received, hereby irrevocably agrees to the foregoing and, pursuant to County Ordinance 86-88, as amended and supplemented, further irrevocably consents to the imposition of a special assessment in lieu of impact fees with respect to the Property in the amount set forth above (the "Special Assessment") and agrees to the terms and conditions thereof as set forth in said Ordinance and the resolutions of the County now or hereafter adopted pursuant thereto. The Special Assessment shall be payable in ten (30) annual installments together with interest on the outstanding amount thereof at a rate not to exceed two percent (2%) above the interest rate on the bonds to be issued by the County in connection with the Special Assessment. The entire outstanding amount of the Special Assessment may be prepaid at any time provided the accrued interest thereon and an appropriate interest and/or prepayment charge is paid together therewith. It is understood and agreed that failure to pay the Special Assessment, interest thereon or any other charge appurtenant thereto may result in foreclosure and loss of title to the Property. The property cwner further agrees that the amount of the outstanding Special Assessment may be increased by the County in connection with the refunding of any issue of outstanding bonds of the County secured by a pledge of the Special Assessment by written instrument, the original of which shall be recorded in the public records of the County and a copy of which shall be sent to the Property owner; provided that the amount of the outstanding Special Assessment and the interest to be paid thereon thereafter is no greater than that which would have been payable without such increase.