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1. Prudential agrees to reimburse City in an amount not <br /> <br />to exceed Three Hundred Fifty Thousand Dollars ($350,000.00) <br />for City's costs incurred pursuant to its contract with Mark <br />Thomas and Company, Inc. dated May 25, 1982, and approved by <br />Resolution No. 82-174, attached as Exhibit "A", and any and <br />all other costs reasonably incurred by City directly relating <br />to the formation of the proposed North Pleasanton Improvement <br />District, Project AD 1982-4, until such time as bonds are <br />initially sold for the district. <br /> <br /> 2. City agrees it shall use its best efforts and due <br /> <br />diligence (i) to have the assessment district formed and bonds <br />sold as soon as reasonably practicel; (ii) to keep th~ pre-formation <br />costs for Prudential'a account below Three Hundred Fifty <br /> <br />Thousand Dollars ($350,000.00); and, (iii) <br />Prudential's account under this agreement <br />reimbursable by the assessment district. <br /> <br />to have the costs for <br />specified as costs <br /> <br /> 3. City shall bill Prudential by invoice for reimbursement <br />on a periodic basis as City incurs costs pursuant to its <br />agreement with Mark Thomas and Company, Inc. and other <br />reasonable costs directly relating to the formation of the <br />above-mentioned district. Reimbursement pa~nents shall be <br />due and payable to City thirty (30) days from the date of <br />invoice. <br /> <br /> 4. If the assessment district contemplated <br /> <br />and' bonds sold, Prudential shall be reimbursed <br />its costs incurred pursuant to this agreement, <br />those costs are included as part of the assessment district <br />actually formed. Reimbursement by City shall be made within <br />thirty (30) days after sale of the bonds. <br /> <br /> -3- <br /> <br />above is formed <br />by City for all <br />provided that <br /> <br /> <br />