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(c) One Million Nine Hundred Twenty Thousand Dollars ($1,420,000) upon Costco's certification and the City Engineer's verification, that the Stoneridge Drive and I-680 Project is seventy-five percent (75%) complete; (d) One Million Six Hundred Thousand Dollars (51,600,000) upon completion of the Stoneridge Drive and I-680 Project and the acceptance of the work by the City or State, as applicable. Should the approved Stoneridge Drive and I-680 Project Cost Certification submitted pursuant to Section 3.10 evidence that Costco expended less than $6,400,000, Costco shall refund to the City within thirty (30) days following approval of the Cost Certification any funds paid to Costco by the City that were in excess of the actual out of pocket expenditures made by Costco. Notwithstanding the Six Million Four Hundred Thousand Dollars ($6,400,000) limitation contained in this Section 4.1, to the extent the Stoneridge Drive and 1-680 Project Cost Certification evidences that Costco paid Stoneridge Drive Cost Overruns the City shall reimburse Costco for the Stoneridge Drive Cost Overruns within sixty (60) days following approval of the Cost Certification. Section 4.2 Costco Reimbtu•setnent Amount. (a) Upon acceptance of the JDEDZ Street Improvements by the City and approval of the Cost Certifications set forth in Section 3. 10, the outstanding balance of the Costco Construction Costs shall be reduced by (a) Three Million Seven Hundred Thousand Dollars (53,700,000) to reflect a fee credit granted to Costco against Costco's obligation to pay the Traffic Development Fee and (b) up to Three Million Eighty Five Thousand Dollars ($3,035,000) (the "Costco Contribution Amount") to reflect Costco's contribution to the development of the Project Improvements. The remaining outstanding balance, if any, of the Costco Construction Costs shall be paid to Costco up to a maximum Six Million Seven Hundred Eighty Five Thousand Dollars ($6,785,000) in accordance with Section 4.3 hereof. The outstanding balance of the Costco Construction Costs shall accrue simple interest at the rate of one and one-half percent (1.5%) annually. Payments on the interest on the outstanding balance of the Costco Construction Costs shall be in addition to the Six Million Seven Hundred Eighty Five Thousand Dollars (56,785,000) maximum. (b) The Costco Acquisition Costs shall be paid in accordance with Section 4.3 hereof. The Costco Acquisition Costs shall not bear interest. Collectively the Costco Construction Costs, plus any accrued interest on the Costco Construction Costs, and the Costco Acquisition Costs shall be referred to herein as the "Costco Reimbursement Amount" (c) The City shall reimburse Costco for the City's portion of any Cost Overruns, pursuant to Section 3.5, paid by Costco on behalf of the City within sixty (60) days following approval of the Cost Certification. Section 4.3 City Reimbursement of Costco. Commencing on the first October 1st following the end of the first Fiscal Year in which (lie Costco Store is opened and operating and on each October Ist thereafter continuing throughout the Term, the City shall pay to Costco forty percent (40%) of the Sales Tax received during the immediately previous Fiscal Year, along with 10 1310 0112318870.8 217/2018