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b. Trail Development Fees. The current trail development fee is $1,090 per <br />commercial acre. The amount due for the Plat is Fifty Eight Thousand Forty <br />Three Dollars and No Cents ($1,090.00 x 64.26 acres = $70,043.00, less trail <br />credit of $12,000 = $58,043.00). The acreage is based on a net developable <br />acreage amount instead of a gross acreage amount. PERMITTEE's obligations <br />with respect thereto are provided in the Assessment Agreement, and the actual <br />costs of trail construction of off -site trail improvements payable by <br />PERMITTEE pursuant to the Assessment Agreement shall be credited against <br />the trail development fee for the Plat. <br />c. Water and Sanitary Sewer Connection (Trunk) Fees. The current water <br />connection fee is $8,337 per acre. The current sanitary sewer connection fee is <br />$3,824 per commercial acre. Based on the net acreage amount of 64.26 acres: the <br />total amount due on the 64.26 acre Plat is Seven Hundred Eighty One Thousand <br />Four Hundred Sixty Six Dollars and No Cents ([$8,337.00 x 64.26 acres] + <br />[$3,824.00 x 64.26 acres] = $781,466.00). PERMITTEE's obligations with <br />respect thereto are provided in the Assessment Agreement, and the actual costs of <br />water and sanitary sewer trunk construction part of the Stage I City Imrovements <br />payable by PERMITTEE pursuant to the Assessment Agreement shall be <br />credited against the water connection and sanitary sewer connection fees for the <br />Plat. <br />d. Water and Sanitary Sewer Lateral Fees. The Property is not subject to standard <br />sanitary sewer and water lateral fees. Water and sanitary sewer imrovements are <br />being constructed pursuant to the Assessment Agreement. <br />e. Stormwater Management Fee. The current stormwater management fee is $4,465 <br />per commercial acre. The amount due for the Plat is Two Hundred Fifty Thousand <br />Forty and No/100 Dollars ($4,465.00 x 56 acres = $250,040.00). The acreage is <br />based on a permeable surface calculation instead of a gross acreage calculation. <br />PERMITTEE's obligations with respect thereto are provided in the Assessment <br />Agreement, and the actual costs of stormwater facilities part of the Stage I City <br />Improvements payable by PERMITTEE pursuant to the Assessment Agreement <br />shall be credited against the stormwater management fee for the Plat. <br />f. Future Development Fees. PERMITTEE agrees that none of the above fees are <br />being collected for any of the outlots in the Plat, and therefore said outlots are <br />subject to similar fees at a future date when such outlots are subdivided for <br />development. <br />3. Miscellaneous. <br />a. Proof of Authority. The CITY requires PERMITTEE to provide proof of <br />authority by its governing board to execute this Amendment. This proof of <br />authority may be satisfied by providing the CITY with a certified copy of the <br />minutes of the governing board of PERMITTEE. <br />ALPHA DEVELOPMENT <br />Amended Development Contract <br />-2- <br />