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b. Twenty thousand dollars ($20,000) in such Public Facilities Fee credits shall be <br /> provided when both: (a) the City's Planning Division verifies that the new owner, or its <br /> agent, has completed the new exterior paint for the existing home and landscaping <br /> improvements on Parcel 2; and (b) the City's Building and Safety Division has <br /> completed final inspection for the re-roof of the existing home on Parcel 2. <br /> c. If the new owner does not complete the Repairs prior to Ponderosa obtaining the final <br /> building permits for the new homes on Tract 8159, and thus Ponderosa is required to <br /> pay the Public Facilities Fees, then Ponderosa may work with the new owner to <br /> facilitate the completion of the Repairs. After completion of the Repairs is verified by <br /> the City pursuant to Subsection b., above, the City will process a refund of Public <br /> Facilities Fees paid by Ponderosa for Tract 8159 up to the full thirty thousand dollars <br /> ($30,000) in total Public Facilities Fee credits. <br /> 2. Continued Payment of Fee for Bernal Park Reserve Fund. Ponderosa acknowledges that it <br /> shall continue to pay the two thousand five hundred dollars ($2,500) for the Bernal Park Reserve Fund <br /> with the issuance of each building permit for new homes on Tract 8159. <br /> 3. Notices. All notices herein required shall be in writing and shall be delivered in person or <br /> sent by certified mail, postage prepaid as follows: <br /> City Manager Ponderosa Homes II, Inc. <br /> City of Pleasanton 6671 Owens Drive <br /> P.O. Box 520 Pleasanton, CA 94588 <br /> Pleasanton, CA 94566 Attn: Jeffrey Schroeder <br /> 4. Applicable Law. This Agreement shall be subject to the laws of State of California and <br /> any action to enforce the terms of this Agreement shall be filed in the Alameda County Superior Court. <br /> The parties enter into this Agreement as of the date written above. <br /> CITY OF PLEAS TON PONDEROSA <br /> Ponderosa Homes II, Inc. <br /> a California Corporation <br /> Nelson Fialho, City Manager ' is/ <br /> Attest: Jey eder, Senior Vice-President <br /> 7*�.44 <br /> Karen D , City Clerk /rill,/,'/,-Ali 4114 <br /> �7mda Morasch, Chief Financial Officer <br /> Approved as to form: <br /> c <br /> /Jonathan Lowell, City Attorney <br /> Public Facilities Fee Credit Agreement PUD-97 Page 2 of 2 <br />