BRADDOCK & LOGAN - REIMBURSEMENT AGMT FOR IMPROVEMENTS 8/7/00

L~ Section 9. Time of Collection. The City shall require the payment of the Reimbursement Fee as a condition of approval of a tentative map, final parcel map, final subdivision map, or the issuance of a building permit for any development of property within the Benefit Area. The City shall collect the Reimbursement Fees at the time of approval of any final subdivision map or parcel map for buildable lots or upon the issuance of a building permit for any development of property within the Benefit Area. Section 10. Distribution of Fees. The Reimbursement Fees collected by the City pursuant to this Agreement shall be distributed in the ratio of ninety percent (90%) to Developer and ten percent (10%) to City (to compensate for City administration and overhead costs as previously calculated by the David M. Griffin and Associates administrative fee study). Section 11. Time and Manner of Disbursement. The Reimbursement Fees collected by City pursuant to this Agreement shall be disbursed to Developer within sixty (60) days of collection thereof. The right to Reimbursement Fees 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 in the Reimbursement Fees to another person or entity at any time by providing City notice of such assignment, which shall become effective upon receipt by City. Developer hereby directs that any Reimbursement Fees due to Developer pursuant to this Agreement shall be mailed to: Braddock & Logan Group II, L.P. P.O. Box 5300 Danville, CA 94526 Section 12. Condemnation of Site of Improvements. If City is required to condemn any of the property upon which any of the Improvements are constructed, Developer shall reimburse City for all costs of such condemnation, including land costs and transaction costs, and attorneys' fees. The cost of such condemnation shall then be reimbursable to Developer in the same manner and extent as the Improvements pursuant to this Agreement, provided that these costs shall not be subject to review or reduction by the City Engineer. 4