Laserfiche WebLink
defined, within sixty (60) days of submission of required documentation thereof. If <br /> <br /> within said two year period (or mutually agreed additional period), a final agreement is <br /> approved by the Agency Board for some but not all Agency Parcels, the reimbursement <br /> of third party costs under Section 11 shall be as follows. If one or more agreements are <br /> approved covering at least 25 of the parcels, there shall be no reimbursement. If <br /> approved agreement(s) cover less than 25 parcels, the Agency shall pay the costs <br /> determined under Section 11, reduced by the percentage represented by the ratio of <br /> parcels covered by approved agreement to the total of 48 parcels. (For example, if the <br /> Agency approves agreements covering 22 parcels, and assuming the total costs <br /> allowed are $200,000, the $200,000 shall be reduced by 22/48 or 45.83%, or $91,667, <br /> for a reimbursement of $108,333.) <br /> 11.Third Party Costs Determined. <br /> Third Party Costs shall mean those amounts actually paid or obligations incurred <br /> for work actually done by those consultants, contractors and advisors of the Developer <br /> listed in Exhibit C attached hereto and made a part hereof by this reference. The total <br /> maximum Third Party Costs that may be owed by Agency and paid to Developer <br /> pursuant to this Agreement shall not exceed $200,000.00. <br /> 12. Liquidated Damages. <br /> DEVELOPER AND AGENCY AGREE THAT SHOULD AGENCY (1) <br /> TERMINATE THIS AGREEMENT, (2) FAIL TO APPROVE A FINAL AGREEMENT <br /> WITH THE DEVELOPER WITHIN TWO YEARS OF THE EFFECTIVE DATE OR (3) <br /> BREACH ANY OBLIGATION OF THIS AGREEMENT, THE DAMAGES TO THE <br /> DEVELOPER WOULD BE EXTREMELY DIFFICULT AND IMPRACTICABLE TO <br /> ASCERTAIN DUE TO FLUCTUATION OF MARKET CONDITIONS AND THE <br /> INABILITY TO ASCERTAIN LOST OPPORTUNITY COSTS, AND THAT THEREFORE, <br /> THE SUMS SET FORTH ABOVE AREA REASONABLE ESTIMATE OF THE <br /> DAMAGES TO THE DEVELOPER, SUCH DAMAGES INCLUDING COSTS OF <br /> NEGOTIATING AND DRAFTING OF THIS AGREEMENT AND ANY OTHER <br /> AGREEMENT, THE LAND USE ENTITLEMENTS AND NEGOTIATIONS FOR <br /> PURCHASE OF OTHER PROPERTY IN THE DISTRICT, IF ANY, COSTS OF <br /> COOPERATING IN SATISFYING CONDITIONS TO CLOSING; OTHER COSTS <br /> INCURRED IN CONNECTION HEREWITH, AND LOST OPPORTUNITY COSTS OF <br /> THE DEVELOPER. DEVELOPER AGREES THAT IT SHALL BE ENTITLED ONLY TO <br /> THE PRECEDING LIQUIDATED DAMAGES AS ITS SOLE REMEDY. <br /> Developer's Initials <br /> 5 <br /> 80A-21 <br /> <br />