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and thirty-two dollars $203,032 (the "Reimbursable Amount"), as shown more particularly in the attached Exhibit A. Section 3. Benefited Properties. The Benefited Properties include those properties highlighted in the attached Exhibit B. Section 4. Reimbursement. Before an owner of one of the Benefited Properties ("Property Owner") is issued a building permit for a development project, the Property Owner shall pay its pro-rata share of Reimbursable Amount pursuant to this Agreement. Assessors Parcel Number 946- 1251-002-04 (Utility Vault) is a Property Owner which must pay the Reimbursable Amount. Section 5. Interest. Simple interest at the rate of six percent (6%) shall be added to the Reimbursable Amount described in Section 2 herein each calendar year on January 1st, beginning on January 1, 200 Section 6. Distribution of Reimbursable Amount. The Reimbursable Amount collected by the City pursuant to this Agreement shall be distributed in a ratio of ninety percent (90%) to Developer, and ten percent (10%) to City to offset any administration costs and expenses incurred in connection with this Agreement. Section 7. Time and Manner of Reimbursement. (a) Disbursement of Reimbursable Amount collected by the City pursuant to this Agreement shall be made to Developer within thirty (30) days of collection thereof. (b) The right to the Reimbursable Amount shall be personal to Developer and shall continue notwithstanding the subsequent sale or transfer of the Property. Developer shall have the right, in its sole discretion, to assign its interest to the Reimbursable Amount to another person or entity at any time by providing the City written notice of such assignment. (c) Developer hereby directs that any Reimbursable Amount due to Developer pursuant to this Agreement shall be payable to and mailed to: 2