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CROCKER PROPERTIES
City of Pleasanton
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LONG TERM AGREEMENT
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12/2/2008 4:45:52 PM
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10/18/2007 2:10:45 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
8/20/1990
LONG TERM AGREEMENTS - NAME
CROCKER PROPERTIES
LONG TERM AGREEMENTS - TYPE
REIMBURSEMENT AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
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~ ~ <br />peak hour trips contributed by all Contributing Projects. The Contributing Project's <br />contribution shall be based on the percentage share of the Traffic Mitigation <br />Improvement Costs, but to the extent any Contributing Project has paid its entire share <br />of the Traffic Improvement Costs when it obtained a building permit, the Project shall <br />not be responsible for an additional contribution should the Project's percentage <br />thereafter increase. Similarly, should the Project's percentage decrease, the <br />Contributing Project shall not be entitled to a refund. <br />b. Increase In Net Estimated Traffic Mitigation Improvements <br />Costs. Any portion of the Net Estimated/Actual Traffic Mitigation Improvement Costs <br />not paid by the owners of the Contributing Projects by January 1, 1999 shall increase <br />by an interest factor equal to the Prime Rate. The interest factor shall be applied for <br />the period from January 1, 1999 to the date of payment. <br />c. Increases Resulting From Increased Costs. The owner of <br />each Contributing Project shall be responsible for its percentage share (as stated in <br />Exhibit D) of the Excess Traffic Mitigation Improvements Costs as these are defined in <br />Section 6. To the extent that a percentage share of a Contributing Project is paid by <br />either the Developer or City, the Contributing Project shall reimburse the party making <br />payment. <br />6. Developer's Responsibility For Increased Costs. <br />a. Possible Increased Costs. The Estimated Traffic Mitigation <br />Improvements Costs may be inaccurate for many reasons including the following: <br />(i) Estimate Inaccurate. The estimate of the present costs <br />of particular Traffic Mitigation Improvements may be inaccurate; and <br />(ii) Increases in Costs. The Traffic Mitigation Improvements <br />Costs may increase after the date of this Restated Reimbursement Agreement at a rate <br />other than the Prime Rate. <br />b. Excess Traffic Mitigation Improvements Costs. Developer <br />shall be responsible for twenty-six and four tenths percent (26.4%) of the costs of the <br />Traffic Mitigation Improvements identified in Exhibit B in excess of Nine Hundred Fifty <br />Four Thousand Seven Hundred Fifty Dollars ($954,750) ("Excess Traffic Mitigation <br />Improvement Costs"), subject to the following: <br />(i) Developer's Maximum Liability. Developer's maximum <br />liability for Excess Traffic Mitigation Improvements Costs shall be ten percent (10%) of <br />Developer's Estimated Required Payment (i.e., ten percent (10%) of Two Hundred <br />Fifty-two Thousand Fifty-four Dollars ($252,054) or Twenty-Five Thousand Two <br />Hundred Five Dollars ($25,205)); and <br />(AGREEMENTS\SRIDGI CL.SAM) 6 <br />
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