Laserfiche WebLink
2. Amendment and Restatement. This Agreement amends and restates the Ori:?inal <br /> Development Contract in its entirety with the intent and legal effect that the amended and <br /> restated terms hereof shall replace the terms of the Original Development Contract. <br /> PERMITTEE shall have no obligations under the Original Development Contract except <br /> as expressly provided in this Agreement. the Assessment Agreement and the Maintenance <br /> Agreement <br /> 3. Assessment Agreement and Maintenance Agreement. All references in the Assessment <br /> Agreement or the Maintenance Agreement to the Original Development Contract are <br /> hereby amended to refer to the Original Development Contract. as amended and restated <br /> by this Agreement. Except as provided in the preceding sentence. the Assessment <br /> Agreement and the Maintenance Agreement shall remain in full force and effect. <br /> 4. 2=Development Fees. The PERMITTEE or its successors in title to the Property is <br /> responsible for the repayment of certain development fees. Said fees were satisfied by, and <br /> are to repaid through, special assessments outlined in the Assessment Agreement. The <br /> CITY will release this section of this AmeadmefftAgreement when the terms of the <br /> associated Assessment Agreement are completed. <br /> a. Park Dedication. The Plat is located in the CITY's Greenland Hills District. The <br /> et*fefftCITY acknowledges that PERMITTEE has satisfied the park dedication <br /> requirement is $4,-78perEeimner-eial aer-e. At the City re'c'ci*eil meeting vrr <br /> for- <br /> the Plat fee title to „ 4.175 „ Otitle•1 ;r she Dl.,+ As a ;Rditie;R to the CITY'S <br /> release . f the Plat f eF ding D>G RAUTT>G E shall to the CITY fee�;�lo <br /> 0 0 <br /> 7n�ep L g fl�iTinnesot T T ( The CITY and <br /> z pair erss6�ir eefi"" " ccr,-�.-��� <br /> tfu- s f,-fe :n fee title to the r'TT"for all parcels within the Plat by conveying to <br /> the CITY Outlot C of the Plat. <br /> b. Trail Development Fees. The current trail development fee is $1,090 per <br /> commercial acre. The amount due for Lot 1, Block 11 of the Plat is Fifty Eight <br /> Thousand Forty Three Dollars and No Cents ($1,090.00 x 64.26 acres = <br /> $70,043.00, less trail credit of$12,000 = $58,043.00). The acreage is based on a <br /> net developable acreage amount instead of a gross acreage amount. <br /> PERMITTEE's obligations with respect thereto are provided in the Assessment <br /> Agreement, and the actual costs of trail construction of off-site trail improvements <br /> payable by PERMITTEE pursuant to the Assessment Agreement shall be <br /> credited against 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 Lot 1, Block 11 of the6^2-aer-e Plat is Seven Hundred <br /> ALPHA DEVELOPMENT <br /> Amended Development Contract <br /> -2- <br /> 3351371v48 <br />