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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 2. COMPENSATION AND M9MOD OF PAYMENT <br /> <br /> A, Nexus shall, within sixty (60) days of execution of lids Agreement, open an escrow <br /> account at First American Title Insurance Company, 2 First American Way, Santa Ana, California, <br /> or an equivalent escrow company approved in advance by Geneva Commons and Sandpointe, for <br /> deposit of funds to be used to pay for the Nexus Improvements (referred to herein as the "Nexus <br /> Escrow" <br /> B. Sandpointe shall deposit $1,000.00 into the Nexus Escrow on the Escrow <br /> Submission Date no later than the date the of the first payment made pursuant to paragraph 2.1). of <br /> this Agreement, <br /> C. Prior to the deadline specified in paragraph 2.D, of this Agreement, Nexus and <br /> Geneva Commons shall meet and confer in good faith to agree upon the estimated cost of die <br /> Nexus Improvements. If, at airy time, either Geneva Commons or Nexus determines that such <br /> agreement is not possible, then the objecting party shall submii its dispute in writing, together with <br /> any evidence upon which it relies to the Executive Director of the City's Public Works Agency and <br /> tho other party, Within fifteen (15) days of its receipt of said notice, the non-objecting party shall <br /> then have fifteen (15) days to submit any response it has to the City and the objecting party. The <br /> Executive Director of the City's Public Works Agency or designee shall then, within thirty (30) <br /> days of receipt of the response, if any, or the expiration of said deadline, inform both Geneva <br /> Commons and Nexus in writing of the final determination of the estimated total cost, which all <br /> parties agree shall be conclusive and binding upon both Nexus and Geneva Commons. Thereafter, <br /> Nexus and Geneva Commons shall deposit their respective shares of the estimated cost of the <br /> Nexus Improvements as set forth in paragraph I.B. of this Agreement, less $1,000.00, into the <br /> Nexus Escrow no later than the date specified in paragraph 2.1), of this Agreement. <br /> D. Nexus shalt pay into the Nexus Escrow no later than (i) the date the first building <br /> permit is issued by the City for the Nexus Project, or (ii) a date ninety (90) days after the issuance <br /> of entitlements to Nexus, provided no litigation or referendtun petition challenging Nexus has been <br /> filed and served on the City, whichever comes later. Geneva Commons shall pay into the Nexus <br /> Escrow no later than (i) the date the first building permit is issued by the City for the Geneva <br /> Commons Project, or (ii) a date ninety (90) days after the issuance of entitlements to Geneva <br /> Commons, provided no litigation or referendum petition challenging Geneva Commons has been <br /> filed and served on the City, whichever comes later. <br /> <br /> <br /> <br /> <br /> <br /> EXHIBIT D <br /> Ordinance No. NS-2680 3 <br /> Page 32 of 51 <br /> <br /> <br /> <br /> <br /> 11 A-36 <br />