03 - Laserfiche WebLink

`1 0 1.Pi 'J 'J may be inaccurate for many reasons, or the Traffic Mitigation Improvements Costs may increase after the date of this Agreement at a rate other than the Prime Rate. Developer shall be responsible for Developer's Percentage Share of the costs of the Traffic Mitigation Improvements identified in Axhibit D in excess of $954,750 ("Excess Traffic Mitigation Improvements Costs") , subject to the following limitations: (i) Developer's Maximum Liability. Developer's maximum liability for Excess Traffic Mitigation Improvements Costs shall be ten percent (10%) of Developer's Estimated Required Payment (i.e. , 10% of $482,149 or $48,215) ; (ii) Citv's Obligation. Any Excess Traffic Mitigation Improvements Costs beyond Developer's maximum liability therefor as aforesaid shall be paid by the City; and (iii) Reimbursement from Contributing Projects. The owner of each Contributing Project shall be required to pay to the City such Contributing Project's percentage share of the Excess Traffic Mitigation Improvements Costs paid by Developer, the City or any other Contributing Project which has advanced Excess Traffic Mitigation Improvements Costs, together with interest at the Prime Rate from the date of payment by such person or entity to the date of reimbursement by the owner of the Contributing Project. Such payment shall be required concurrent with the payment by such Contributing Project of its percentage share of Traffic Mitigation Improvements Costs generally. Upon receipt of such payment toward the Excess Traffic Mitigation Improvements Costs, the City shall apply same to repayment of such Excess Traffic Mitigation Improvements Costs advanced by Developer, the City and/or any other Contributing Project in proportion to the amount thereof advanced by each such person. (h) 7uture Impact Fee. In the event the City should hereafter adopt a traffic impact or similar capital improvements fee or fees, the purpose and use of which would include any of the Traffic Mitigation Improvements, the payment obligations of Developer (and its successors) under this Section 3.2 shall be credited against such fees. 4. Additional Traffic Improvements. Section 3.2(i) of the Agreement is revised by adding the following at the end thereof: "Additional Traffic Improvements as used herein shall specifically mean mitigation measures identified by the City to offset anticipated traffic impacts should it decide not to construct the West Las Positas interchange at 1-680. Furthermore, Developer agrees -9-