MACKAY HOMES - Laserfiche WebLink

~• City shalt rei^1''~SC%:a$ i'~i~'vClvp~-"..r ~£Rer3lly ~L°c c1CCOrd3:aie~"., t?l.t~l ~he uCh~~C~u~° shown on E~{ZBI'T "B" pursuant t~ Ordinance i,o. 466. Provided,.. however, that in no event shall City reimburse Developer for any facilities prior to the time that said facilities are campleted and accepted. by City. It is understood further that City may vary from this schedule because of financial iimita*ions provided that fu11 reimburse:;iant shall be made to Developer within seven (7) ye~.rs`from the date of Lhs agreement.. Zn the event reiribur~em2nt is delayed ceyo.~ad January. 1, 173, City .agrees to pay • Developer interest at the rate of seven percent per annum on any remaining balance. 3.. Disputes arising as to~*_his agreement shall be resolved by the Gity Manager. Any appa_al from. his decision shall be in writing addressed. to the City. Council. Final. Council action shall be required before any suit is carnmenced in Superior Court based upon this..agreement; provide however, that the ..failure of the City Council to ta~~e final action upon any such dispute within thizty days from the date of the appeal. communi- cation shall be deemedfinal.Councl action upholding the decision of the City Zlanager. 4. The oblioatic~ns of this agreement sha11 apply to and be bindizi~ ?zpon all successors in interest of theepartiQS herefo including hefrs, assigns, executors and others. Thebe!.efits of this agreement shawl be profit to _ .,.__ the .parties hereto. >' r..: r~ ~ "~ DATED:: ~"~ CITY „O PLEAS~1TO~i ~, ~ _, y- .,'f t ~ ~ / 1~fAYGR nTEST: _ MACKAY HOMES Q DE~IELOPER ' PY~.I _.._.. Helen C. McCar. , ,~?,~~ C~.ty` Clerk %~ ice-President {Tlt 14)