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2) The landscape renovation shall include the removal and replacement of missing. dead and dying trees, shrubs and groundcovers consistent with the Hacienda Design Guidelines. 3) The work will also consist of the replacement of the Parcourse equipment. 4) The Association would then be responsible for future maintenance per its Planned Unit Development (PUD). 5) Loan for Project Cost. a) The Association does not have sufficient reserves to fund the Project and has asked the City to provide a loan of$732,548 to fund the project. b) The City will make available to the Association a $732,548 loan to fund the Project, above, from the City's NPID Reserve Account subject to: i.An annual rate of compounded interest of 2.72 percent. c) One hundred and twenty (120) monthly payments due the first of each month commencing January 1, 2020. d) No prepayment penalty e) 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 f) Payments shall be made to: The City of Pleasanton, P. 0. Box 520, Pleasanton, CA 94566. g) The Association shall execute a promissory note in favor of the City for the loan amount equal of$732,548. The form of such promissory note is attached as Exhibit A. 6) 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 Attn: General Manager P.O. Box 520 4305 Hacienda Drive, Ste 330 Pleasanton, CA 94566 Pleasanton, CA 94588 7) 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 breach of this Agreement, whether of the same or of any other covenant, condition or obligation. 8) Governing Law. California law shall govern any legal action pursuant to this Agreement with venue in the applicable court or forum for Alameda County. 9) Attorney's Fees. The prevailing party in any action brought to enforce or construe the terms of this Agreement may recover from the other party its reasonable costs and attorney's fees expended in connection with such an action.