PACIFIC GAS AND ELECTRIC REIMBURSEMENT 1991

3. Benefit Area The area which will benefit from the Improvements (the "Benefit Area"- shall include the Property and those properties listed, and shown on the map included in Exhibit "B" attached hereto and incorporated by reference herein. 4. Reimbursement Principle a. Each property within the Benefit Area shall be subject to payment of its fair share of the Improvement costs which has been determined to be one-third (1 /3) for each of the benefitted properties as set forth in Exhibit "A" attached hereto, which is hereby incorporated into this agreement. b. Should Auf der Maur/Rickenbach, property owners, as shown in Exhibit B or their successors in interest, make connections to or use the improvements described herein during the terms of this Agreement, they shall reimburse the Benefit/property owners the sum of 560,411 as described in Exhibit A. c Developer's share of the cost of Improvements shall be deemed contributed upon completion of construction on the Improvements, subject to reimbursement as herein provided. 5. Time of Collection The City will require payment of reimbursement fees as a condition of tentative map approval, zoning approval or building permit issuance. The City will collect the reimbursement fees in conjunction with the approval of any final or parcel map for buildable lots or upon issuance of a building permit for any property within the Benefit Area, whichever comes first. 6. Distribution Fees Reimbursement fees collected pursuant to this Agreement shall be paid ninety- five percent (95°r6) to PG&E and five percent (5°~1 to City. The percentage allocated to City is the cost of administration and is equal to five percent (5°k) of the actual costs of the Improvements. 7. Time and Manner of Disbursement a. Disbursement by City to PG&E shall be made within sixty (60) days of the date of collection of any reimbursement fee. b. The right to reimbursement shall be personal to PG&E and shall continue notwithstanding subsequent sale or transfer of the Property; provided that PG&E shall have the right to assign its rights to such reimbursements to another person or entity at any time.