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MARDEL - COST REIMBURSEMENT AGREEMENT
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MARDEL - COST REIMBURSEMENT AGREEMENT
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10/26/2007 3:47:01 PM
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10/26/2007 1:11:21 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
3/20/2001
LONG TERM AGREEMENTS - NAME
MARDEL
LONG TERM AGREEMENTS - TYPE
REIMBURSEMENT AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
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(EVA)]). The City shall reimburse the Developer within the time frame set forth in <br />Section 5, below. <br />For the estimated 579 lineal feet of sanitary sewer main (measured from the EVA <br />to the re-aligned Vineyard Avenue), that cost shall be borne 50% by the Developer, and <br />50% by the City. The City shall reimburse the Developer for the City's share within the <br />time frame set forth in Section 5, below. <br />(c) For the 12 foot wide maintenance road (along the proposed sewer and water <br />lines between their connection with Foxborough Estates [at the rear lot line of Lot 10, <br />Tract 5188) to the EVA], Developer shall be entitled to reimbursement from the City for <br />100% of the costs attributable to 9,180 square feet of asphalt concrete pavement. The <br />City shall reimburse the Developer within the time frame set for the in Section 5, below. <br />Section 5. Time and Manner of Disbursement. <br />(a) Notwithstanding subsection (b), below, the City's share of the engineering <br />costs incurred by Developer related to the Improvements shall be payable within fourteen <br />(14) days of submission of verified invoices. <br />(b) Payment of Reimbursable Costs, excepting engineering costs reimbursed <br />pursuant to subsection (a), above, by the City to the Developer shall be made within <br />thirty (30) days of acceptance of the Improvements. <br />(c) The right to the Reimbursable Costs shall be personal to Developer and shall <br />continue notwithstanding the subsequent sale or transfer of the Property. Developer shall <br />have the right, in its sole discretion, to assign its interest to the Reimbursable Costs to <br />another person or entity at any time by providing the City written notice of such <br />assignment. <br />(d) Developer hereby directs that any Reimbursable Costs due to Developer <br />pursuant to this Agreement shall be payable to Mardel LLC and mailed to: <br />Mardel LLC <br />2552 Stanwell Drive, Suite 203 <br />Concord, CA 94520 <br />Attn: Doyle Heaton, Member <br />Section 6. Term. <br />This agreement shall cease thirty (30) days following the payment by the City to <br />the Developer of the Reimbursable Costs. <br />
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