RES 82366 - Laserfiche WebLink

Page 8 of 15 improvements at the interchange of RTE 680 and Stoneridge Drive. Said participation shall be represented by the recordation of bonded indebtedness, to a maximum of $1,000,000.00 of principal, on a prorata basis across all the net acreage after dedication of public improvement rights-of-way to the City within the property to be known as the Hacienda Business Park. F. Owner, or its Proposed Assignee, acknowledges that prior to becoming eligible to apply for any remaining sewer capacity available to City not specifically allocated herein, Owner, its Proposed Assignee, or successors in interest, must have exhausted the to ~aid parties herein. 2. OBLIGATIONS OF CITY. For and sewer capacity allocated in consideration of the covenants and agreements provided City hereunder by Owner, or its Proposed Assignee, City agrees as follows: A. City shall have complete discretion over its allocation of the 500,000 gallon per day expansion capacity for the LAV~A and DSRSD facilities, provided, however, that City agrees that upon Owner's posting of performance bonds for said expansion representing completion of all associated agency requirements for commencement of construction, City shall allocate 300,000 gallons of said capacity to Owner, or its Proposed Assignee, on a permanent basis with the understanding that Owner, its Proposed Assignee? or successors in interest, shall pay all sewer connection fees for said 300,000 gallons per day at the time building permits are obtained or the discrete plant is connected to the City's and DSRSD's sewer system;