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Alameda CTC Agreement No. A22-0034 <br />Project No. 157800 <br />otherwise does not begin construction within five (5) years after the effective <br />date of AGREEMENT (as such deadline may be extended by agreement between <br />the parties hereto), then PROJECT SPONSOR shall, within one (1) year after such <br />cancellation decision or the expiration of such five (5) year period, reimburse <br />ALAMEDA CTC for the greater of the following: ALAMEDA CTC Share of the <br />property's Fair Market Value or the full amount of ALAMEDA CTC <br />ADMINISTERED FUNDS used to acquire the property, as escalated by the increase <br />in the CPI during the most recent period for which CPI data is available which is <br />equal in length to the period between the date ALAMEDA CTC ADMINISTERED <br />FUNDS were paid to PROJECT SPONSOR and the date reimbursement is made to <br />ALAMEDA CTC. <br />b. If any property is acquired for the PROJECT using ALAMEDA CTC ADMINISTERED <br />FUNDS to finance some or all of the acquisition and only a portion of the <br />acquired property is required for the PROJECT, and if the PROJECT begins <br />construction within five (5) years after the effective date of this AGREEMENT (as <br />such deadline may be extended by agreement between the parties hereto), then <br />PROJECT SPONSOR shall, within one (1) year after PROJECT completion, <br />reimburse ALAMEDA CTC for ALAMEDA CTC Share of the Fair Market Value of <br />any property determined to be "excess property". <br />c. If the PROJECT begins construction within five (5) years after the effective date <br />of this AGREEMENT (as such deadline may be extended by agreement between <br />the parties hereto), then except as provided in subparagraph (d) below, no <br />reimbursement is due with respect to any property interest acquired for the <br />project using ALAMEDA CTC ADMINISTERED FUNDS if the entirety of the <br />acquired property is required for the PROJECT. <br />d. If PROJECT SPONSOR anticipates receiving net revenues (i.e., rental or other <br />income generated by the property, less reasonable costs for insurance, <br />maintenance and related items) from any property acquired using ALAMEDA <br />CTC ADMINISTERED FUNDS, PROJECT SPONSOR shall notify ALAMEDA CTC on <br />how PROJECT SPONSOR will use such revenue to offset other project costs, and <br />document such revenue separately in project reimbursement requests. <br />e. If PROJECT is suspended, PROJECT SPONSOR shall pay all property management <br />costs. <br />f. Property that is required for the PROJECT and acquired wholly or in part with <br />ALAMEDA CTC ADMINISTERED FUNDS shall be available for PROJECT <br />Page 14 of 19 <br />