WESTBROOK HOUSING - LONG TERM AGREEMENT (LIN)

begins on the Bernal/Bonde connection from the western boundary of the subject site to its present terminus adjacent to the Old Towne development. The traffic impact study shall assume no connection whatsoever from PUD-84-5 to Angela Street. '2. Developer agrees to include the Subject Property, or any unsubdivided remainder of the Subject Property, in an assessment district to be formed by City for the construction of the Bernal/Bonde connection. Developer waives the right to protest the formation of assessment district provided the assessments on the Subject Property do not exceed Five Hundred Thousand Dollars ($500,000.00). City agrees to exericse best efforts to assure timely formation of the assessment district and to use its power ofeminent domain if necessary to acquire the right-of-way. Developer understands that best effortt does not guarantee a financial commitment of City to the Bernal/Bonde connection. 3. If necessary to permit further development on the Subject Property, Developer may increase its contribution to the Bernal/Bonde connection beyond the $500,000 limit subject to City and Developer entering a reimbursement agreement. Said reimbursement agreement shall provide that City will require other benefited properties in the vicinity (including. the Bonde property) to repay Developer for their share of the benefit plus interest when those benefited properties do develop. 3. Developer is aware that units approved by Paragraph I(A) for the years 1989, 1990 and 1991 cannot be built or subdivided until construction has commenced on the Bernal/Bonde connection. - 6 -