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(4) payment not made within thirty (30) business days of the due date is considered late and subject to a five percent (5%) penalty assessed only against the amount of the installment payment due; and (5) payments shall be made to: The City of Pleasanton, P. O. Box 520, Pleasanton, CA 94566. (c) If the Association elects to proceed with the upgrade, the Association shall execute a promissory note in favor of the City for the loan amount equal to the Final Cost described in Section 2, subsections (c) and (d), above, after the City and Association agree on the Final Cost but prior to the City Council's acceptance of the LED upgrade project as complete. The form of such promissory note is attached as Exhibit A. The parties acknowledge that as part of the LED upgrade the selected LED lights are expected to qualify for a rebate from PG&E. The City's selected bidder will process such rebate applications on behalf of the City for all the LEDs upgraded as part of the project. When such rebates are received by the City for the Association's selected LEDs, the Association may elect to receive such rebate as a direct payment, or credit the rebate against the outstanding principal balance. 4. Warranty. If the Association elects to proceed with the upgrade, the warranty accompanying the selected items shall be as follows: (a) Warranty for the LED lights shall be the ten (10) year manufacturer's warranty for providing replacement lights. (b) Warranty for brackets, photocells, and backlight control shields shall be the respective manufacturers' warranty for providing replacement items. (c) The one (1) year warranty, to be provided by the selected bidder, for replacement and installation of replacement parts or components shall begin to run upon the City Council's acceptance of the LED upgrade project as complete. The parties acknowledge that after this one (1) year warranty expires, the obligation, including payment of associated costs, to procure and install replacement parts shall be borne by the party responsible for maintenance of the particular light in need of repair or replacement. 5. Notices. All notices herein required shall be in writing and shall be sent by certified or registered mail, postage prepaid, addressed as follows: To Association: Hacienda Business Park To City: City Manager Owners Association City of Pleasanton 4473 Willow Road, Suite 105 P.O. Box 520 Pleasanton, CA 94588-8570 Pleasanton, CA 94566 Attn: General Manager 6. Waiver. In the event either City or Association at any time waive any breach of this Agreement by the other, such waiver shall not constitute a waiver of any other or succeeding 4