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issuance of a building permit. The City will collect the <br />reimbursement fees in conjunction with the approval of any final <br />or parcel map for buildable lots or upon issuance of a building <br />permit for any property within the Benefit Area. <br />b. In the case of larger lots subdivision of PUD- <br />zoned lands for which no specific development plan has been <br />approved, the payment of reimbursement fees will not be required <br />until subdivision into buildable lots or issuance of building <br />permits, whichever comes first. <br />8. Distribution of Fees. Reimbursement fees collected <br />pursuant to this Agreement shall be paid out ninety-five percent <br />(95%) to Developer and five percent (5%) to City. The percentage <br />allocated to City is the cost of administration and is equal to <br />five percent (5%) of the actual reimbursement fees. <br />9. Time and Manner of Disbursement. <br />a. Disbursement by City to Developer shall be made <br />within sixty (60) days of the date of collection of any <br />reimbursement fee. <br />b. The right to reimbursement shall be personal to <br />Developer and shall continue notwithstanding subsequent sale or <br />transfer of the Property; provided that Developer shall have the <br />right to assign its rights to such reimbursement to another <br />person or entity at any time. <br />c. Developer hereby directs that reimbursement due to <br />Developer shall be payable to: <br />The Prudential Insurance Company of America <br />4309 Hacienda Drive, Suite 500 <br />Pleasanton, CA 94588 <br />Developer may change the payee and/or address of <br />payments by notice in writing to City, such notice to be <br />effective upon receipt by City. <br />10. Term. City will cease collecting fees and the <br />Developer will not be entitled to further reimbursement under <br />this Agreement after January 21, 2002. <br />11. Disputes. Disputes arising as to this Agreement or as <br />to connections or charges shall be resolved by the City Manager. <br />Any appeal from such decision shall be in writing addressed to <br />the City Council. Final Council action shall be required before <br />any suit is commenced in Superior Court based on this Agreement. <br />The prevailing party in any action or proceeding hereunder shall <br />be entitled to recover its reasonable attorneys' fees, in <br />addition to any other relief to which such party may be entitled. <br />- 3 - <br />