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4. CONVEYANCE OF TITLE. Title to the Improvements shall <br />vest in the City upon reimbursement of the Development Costs as set <br />forth in paragraph 2 and formal acceptance of the dedication of the <br />Improvements by resolution of the City Council of the City. <br /> <br /> 5. CONDITIONS PRECEDENT TO TRANSFER. The transfer and <br />acceptance of the Improvements and reimbursement of Development <br />Costs is conditional on the completion of special assessment <br />proceedings undertaken by the City as Assessment District <br /> <br />No. 1985-1, Chabot Drive Extension and East Amador Relief Sewer and <br />the sale and delivery of improvement bonds issued by the City <br />pursuant to the Improvement Bond Act of 1915 in the principal amount <br />of $3,293,388.00. The Developer acknowledges that the completion of <br />assessment proceedings is in the discretion of the City Council of <br />the City and is subject to a public hearing process, and that this <br />agreement in no way shall affect or limit the discretion granted by <br />law to the City Council of the City in matters of special <br />assessments. In the event that this condition shall not have been <br />met before July 1, 1985, this agreement shall be void. <br /> <br /> 6. ASSESSMENT. The Developer hereby consents to the levy <br />of special assessments against its respective parcels of land in <br />Assessment District No. 1985-1, Chabot Drive Extension and East <br />Amador Relief Sewer, in the amounts shown in Appendix A to this <br />agreement. <br /> <br /> <br />