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(d) No Tax Burden. Adoption of property tax revenue exchange resolutions, p~rsuant to Section 99 of the California Revenue & Taxation Code, or any successor section, by the City and the County of Alameda that~,~9~?~en$ with City Council Resolution No. $0-74 (A Resolution Approving County-Wide Method FOr Redistribution of Property Tax Revenues FOllowillg Annexation Or Certain Other Jurisdictional Changes), adopted March 25, 1980, or are otherwise acceptable to City and Property Owner. If, notwithstanding the good faith and diligent efforts of the City to obtain a property tax revenue exchange acceptable to it, such exchange is not final and effective prior to the Date of Execution, City and Property Owner agree to work diligently either (i) to cause the County of Alameda to agree to a property tax revenue exchange acceptable to tim City or (ii) to reach a property tax revenue exchange that is mutually acceptable to City and Property Owner. If either a property tax revenue exchange acceptable to the City or a mutually agreeable understanding between City and Property Owner regarding property tax revenue has not been reached within months following the Date of Execution, either party shall have the right to terminate this Agreement by notifying the other party in writing and the City and Property Owner shall thereafter have no further obligations under this Agreement. [Still ulder discussion.] 4.2 Annexation. Property Owner and City shall cooperate in good faith and diligently pursue approval of the annexation of the Property to the City. City shall initiate through the LAFCO, as soon as practicable after the Execution Date but in accordance with LAFCO rules and practices, appropriate applications for annexation of the Property into the City. The City shall take all steps necessary and use its best efforts to diligently and promptly complete the annexation preeeedings. Property Owner shall cooperate with the City in seeking and processing the annexation through LAFCO. It is the intention of the Parties that each property owner of land included within the annexation application shall pay its pro rata share of all usual annexation processing and related processing fees applicable to the property proposed for annexation, as required by LAFCO in order to process the annexation application. In the event that Property Owner pays all of such processing and related fees, it shall be entitled to seek reimbursement from any other owner of property included in the annexation application. If LAFCO or any other aganey having jurisdiction seeks to impose any condition to its approval of the City's annexation application, which condition materially affects the Project and is unacceptable to Property Owner in Property Owner's sole discretion, Property Owner may request City to withdraw its application and terminate annexation proceedings for the Property, and may oppose annexation of the Property to the City. 4.3 ~ltlai~dl~lJ.9~. Nothing in this Agreement shall preclude annexation of only a portion of the Property, provided that both Property Owner and City agree to such partial annexation. In such event, the Parties agree to cooperate in good faith to amend or modify the Project Approvals, if deemed nacessary by the City and agreed to by Property Owner, to ensure that each Party hereto maintains the benefit of the bargain notwithstanding such amendment or modification, and any time periods imposed under the Project Approvals for completion of an act shall be deemed extended for the amendment or modification to be processed and to allow for processing of amendments or modifications to the County approvals as provided in this Section 4.3. Nothing in this Section 4.3 shall obligate City to proceed with a partial annexation of a portion of the Property. 35690/849375v5 - 18 - 08/04/00