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(c) Fee Adjustments. <br /> Notwithstanding subsections (a) and (b) above, during the Term of this Agreement, Developer <br /> shall pay those periodic cost of living or similar indexed increases, decreases or adjustments to <br /> Development Impact Fees and Regulatory Processing Fees as are applicable and in effect at the <br /> time such fees would otherwise be payable to City. <br /> (d) Fees Charged by Other Entities. <br /> Developer acknowledges that this Agreement does not control development related fees charged <br /> by entities other than the City. Developer shall be responsible for the payment of such fees or <br /> charges imposed by entities other than the City in effect at the time of payment of such fees or <br /> charges notwithstanding that the City may collect such fees on behalf of those other entities. If <br /> there is a dispute over the amount of the fees or charges between the Developer and an entity <br /> other than the City, upon the Developer's request the City shall use its best efforts to encourage a <br /> resolution of the issue between the Developer and that entity. If the City, despite its best efforts, <br /> is not able to bring about an amicable resolution, Developer solely shall be responsible for the <br /> fees or charges imposed by the entity. <br /> 4.2 Valley Trails Park Improvements. <br /> Prior to issuance of the first building permit, Developer shall deposit four hundred and thirty <br /> seven thousand five hundred dollars ($437,500) into a segregated and interest-bearing account <br /> designated by the City for use by the City to fund the design, construction, operation and <br /> maintenance of a restroom or other improvement(s) in the Valley Trails Park. Said improvements <br /> shall be determined by the City through a development review process. This requirement is in <br /> addition to any requirements to fund or construct improvements that may be contained in the <br /> Project Approvals. Developer will not receive credits against payment of City park fees for this <br /> amount. <br /> 4.3 Homeowners' Association and Clubhouse <br /> (a) Homeowners' Association <br /> Prior to the issuance of the 13th building permit for the Project, Developer shall form a <br /> Homeowners' Association for the Project ("Homeowners' Association"). <br /> (b) Construction of Clubhouse <br /> Prior to the issuance of the 13`11 building permit for the Project, Developer shall construct a <br /> private clubhouse on the Property in a location identified in Exhibit C attached hereto <br /> ("Clubhouse"). The Clubhouse shall be owned and maintained by the Homeowners' <br /> Association. The Clubhouse shall consist of a meeting space to accommodate non-fixed seating <br /> occupancy of approximately 40 people and an internally accessible restroom. <br /> 8 <br />