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Proposals, whereby the minimal park requirements are two acres <br />per one thousand population; and <br />TMEREAS, CITY has further delineated park and recreation lards <br />and facilities in its General Plan, page 19, workbook 4, existing <br />and proposed; <br />NOW, THEREFORE, FOR AND IN CONSIDERATION OF THE P<IUTU_UL PRaMISES, <br />COVENANTS AND CONDITIONS HEREINAFTER SET FORTH, THE P.kRTIES <br />HERETO AGREE AS -FOLLOWS <br />- I <br />Spurgeon Intermediate School is located at 2701 !•Test 5th <br />Street, Santa Ana, California. <br />IT <br />The parties hereto agree that the cost of developiment for recrea- <br />tional use of the Revenue Sharing project site described in para- <br />graph I above shall be equally divided between the CITY and the <br />COUNTY and the CITY shall pay 50% of the project cost, or Seventy-. <br />Nine Thousand Three Hundred Fifty Dollars <br />and the COUNTY shall,pay 50% 6a the project cost, or Seventv-Mine <br />Thousand Three Hundred Fifty Dollars ($79,350.00) or a <br />lesser amount, if the CITY'S cost of development after the date <br />of the agreement decreases. CITY shall be responsible.for the cost. <br />of overhead, operation and maintenance; such costs are not to be in- <br />cluded in this joint funding agreement. Monthly payments by the <br />COUNTY, based on actual expenditures,.shall he made upon tender of <br />2 <br />