STAPLES NEIGHBORHOOD PARK FUNDING-IMPROVEMENT

ARTICLE 3 NEIGHBORHOOD PARK DESIGN, FUNDING, AND CONSTRUCTION 3.1 Neighborhood Park PUD Plan. Attached to this Agreement is Exhibit E (the "Neighborhood Park PUD Plan ") which are the design and planning standards for the Property that integrates the Detention Basin with the public's use of the remainder of the Property as a neighborhood park. That portion of the Property not located within the Detention Basin shall be referred to as the "Neighborhood Park." 3.2 Neighborhood Park Improvements. (a) Neighborhood Park Improvement Plans. No later than sixty (60) days following the date County submits to City and CLC the Detention Basin Improvements Final Plans pursuant to Section 1.4(a), CLC shall cause to be prepared and submitted to City for City's review and approval final plans and specifications covering the Neighborhood Park Improvements consistent with the Neighborhood Park PUD Plan (the "Neighborhood Park Improvements Final Plans "). The Neighborhood Park Improvements Final Plans shall include a construction warranty, a grow- in/maintenance period for the turf and other vegetation, and shall be consistent with City park construction specifications. (b) Construction of Neighborhood Park Improvements. CLC shall, at its sole expense, cause construction of the Neighborhood Park Improvements pursuant to the approved Neighborhood Park Improvements Final Plans. Construction of the Neighborhood Park Improvements shall be coordinated with the construction of the Detention Basin Improvements to the extent possible. City shall inspect and accept the Neighborhood Park Improvements, and will allow the Neighborhood Park to open for public use, when completed to City's satisfaction and after any grow - in/maintenance period (concerning lawn/turf/trees) has passed and areas /plant material covered by the grow- in/maintenance is found acceptable by City. 3.3 Credits Against City Fees. For CLC's designing and constructing the Neighborhood Park Improvements, agreeing to assume Hendrick's Proportionate Share of the Detention Basin Improvements, acquiring and improving Street A, and agreeing to construct a "Good Neighbor" fence as set forth in the conditions of approval for PUD 68, City shall provide CLC with a credit of $1,754,830 against the City's Public Facilities Fees then in effect at the time CLC obtains building permits for the development of the CLC Parcel, provided, however that if the amount of the Public Facilities Fees to be charged is less than the amount of the credit, then City shall apply the credit against the City's Traffic Development Fees. For purposes of determining the amount of the fees to which the credit will be applied, the following will apply: All Villas will be calculated at the Multi - family rate; the Central Plant will be calculated at the Warehouse and Office rate based on final identified uses; in the common areas, only the office space will be assessed and calculated at the Office rate; rooms in the Health Center will be calculated at the Service rate; and the Gatehouse will not be assessed. 3.4 Payments as Amenity. City acknowledges that CLC's payment for the design and construction of the Neighborhood Park Improvements, CLC's payment for acquiring and improving Street A, and CLC's constructing a "Good Neighbor" fence exceeds the credit provided in Section 3.3 and therefore such payments shall constitute an amenity under the City's 000299.0044\1087426.6 7