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3. Benefit Area. "Benefit Area" shall be those properties <br /> designated on Exhibit "A" attached hereto and incorporated by <br /> reference herein. <br /> <br /> 4. Existing Units Exempt. Now existing housing units <br /> within the Benefit Area which have not yet connected to the sewer <br /> system shall be exempt from payment of these oversizing costs <br /> even if said existing units connect to the sewer system within <br /> the term of this agreement. <br /> <br /> 5. Reimbursement Principle. Each property within the <br /> Benefit Area shall bear its proportionate share of oversizing <br /> costs in accordance with the number of additional units developed <br /> thereon. The oversizing reimbursement fee is calculated by <br /> dividing the oversizing cost as calculated in Exhibit B <br /> ($88,941.30) by the number of units anticipated to develop within <br /> the Benefit Area within the next ten years as calculated in <br /> Exhibit E (1,070 units). <br /> <br /> 6. Establishment of Fee. City shall collect an oversizing <br />reimbursement fee of $83.00 per unit for said sewer facilities <br />pursuant to t~e calculations and engineering data set forth on <br />Exhibit "B" attached hereto and incorporated by reference herein. <br />An annual interest rate of eight percent (8%) shall be added to <br />the fee for each calendar year after 1985. See Exhibit "C", for <br />schedule of fees adjusted to reflect interest charges. <br /> <br /> 7. Time of Collection. City will collect oversizing <br />reimbursement fees at time of first subdivision or issuance of a <br />building permit, whichever comes first. In the case of any <br />property which develops in a commercial use, the oversizing <br />reimbursement fee shall be based upon residential discharge <br />equivalents (RDE's). In the case of subdivision of PUD zoned <br />lands for which no specific development plan has been approved, <br />charges will be based upon general plan land use designations as <br />follows: <br /> <br /> Low Density Residential 2 units per acre <br /> Medium Density Residential 8 units per acre <br /> High Density Residential 15 units per acre <br /> <br /> 8. Distribution of Fees Collected. Based upon calculations <br />set forth in Exhibit "B", oversizing reimbursement fees collected <br />pursuant to this agreement shall be paid out in accordance with <br />the following percentages: <br /> <br /> DKB/Shelter Capital 73.43% <br /> Corrie/Gentry 17.36% <br /> Shea Homes 4.45% <br /> City 4.76% <br /> <br /> 100.00% <br /> <br /> The percentage allocated to the City is the cost of <br />~dmin~stration and is equal to 5% of actual oversizing costs. <br /> <br /> - 2 - <br /> <br /> <br />