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4. Reimbursement Princi le. Each property within the Benefit Area shall bear its share of costs in accordance with the number of additional units developed thereon. The reimbursement fee shall be determined as follows: (a) The property owned by Developer as set forth on Exhibit A shall be exempt; (b) The property identified as Bonde AP #946-2540-1-33 shall pay fee equal to Three Thousand Seven Hundred Forty Dollars ($3,740.00) per single family dwelling unit; (c) All other residential properties shall pay fee equal to Seven Hundred Forty-One Dollars ($741.00) per single family dwelling unit; (d) Multiple family residential units shall pay fee equal to Five Hundred Fifty-Six Dollars ($556.00) per unit. 5. Establishment of Fee. City shall collect a reimbursement fee for said extension pursuant to the calculations and engineering data set forth on Exhibit "C" attached hereto and incorporated by reference herein. An annual interest rate of eight per cent (8$) shall be added to the fee for each calendar year after December 31, 1988. 6. Time of Collection. City will collect reimbursement fees at the time of first subdivision or issuance of a building permit, whichever comes first. In the case of any property which develops in a commercial or non-residential use, the construction reimbursement fee shall be based upon the following formula wherein ADT stands for average daily traffic trips and DT stands for daily trips: Total ADT for the commercial or non-residential use proposed for development 10 DT 7. Time and Manner of Disbursement. a. Disbursement by City to Developer shall be made within sixty (60) days of date of collection of any reimbursement fee. b. The right to reimbursement shall entities which originally paid for and shall continue notwithstanding transfer of the property developed. be personal to the construction costs subsequent sale or 2