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Ju!'~.14. 2005 1:06PM No,4629 P, 4/5 <br /> <br />City of Ramsey <br />Jun. e i0, 2005 <br />Page 3 <br /> <br />(0 <br /> <br />Water Hook-Up Fee. The remaining balance of the Oakwood Contribution, being <br />$4,391,634.00 [$6,000,000.00 - $1,430,646.00 - $177,720.00] shall be reimbursed <br />to Oakwood by payment to Oakwood of 100% of the water hook-up lee paid by the <br />first 2,359 Lots [$4,391,634.00 + $1,862.00] hooked-up to water in the Northwest <br />and Northeast Service Areas. The Northwest and Northeast Service Areas are <br />shown on the attached map.. Oakwood shall receive 100% of the water hook-up <br />fees for the 2,359 Lots even if the water hook-up fee at the time is in excess of the <br />current $1,862.00 per I,ot. <br /> <br />If Oakwood only receives a proportion of the water hook-up fee, then the number <br />of Lots as herein stated shall be increased proportionately so that Oakwood receives <br />100% of the water hook-up fee for an equivalent number of Lots equal to 2,359 <br />Lots. For exan:tple, if for any reason Oakwood only receives one-half (50 %) of the <br />water hook-up fee for 2 Lots within the Northwest and Northeast Service Areas, <br />then the numbcr of Lots that Oakwood shall receive the water hook-up fee shall be <br />increased by 1 Lot,. <br /> <br />If Oakwood is unable to develop the full number of Oakwood Lots as set [orth in <br />paragraph 2(a), or if Rowe is either unable to develop the full number of Rowe <br />Lots as set forth in paragraph 2(b) or does not enter into a binding agreement to <br />pay Oakwood the full amount of the partial reimbursement as set forth in paragraph <br />2(b), then the amount of the reimbursement under this paragraph shall be increased <br />based on the number of Oakwood Lots that Oakwood actually develops, and the <br />number of Rowe Lots that Rowe actually develops or the atnount that Rowe agrees <br />to reimburse Oakwood for. <br /> <br />It is agreed that Oakwood will nqt. receive a proportion o[ any water hook-up fee <br />if the City does not receive a water hook-up fee as a result of an agreement with <br />any other developer that provides for the developer to pay the cost of the extension <br />of the watermain to such developer's property which is considered a prepayment <br />of the water hook-up fees for the Lots to be developed by such developer. <br /> <br />(0 <br /> <br />Additional Oakwood Lots. If Oakwood develops any Lots in addition to the <br />Oakwood Lots, Oakwood shall not be required to pay any water hook-up fees for <br />such additional Lots, and the then current City trunk charges shall be credited <br />against the remaining reimbursable amount of the Oakwood Contribution.. <br /> <br /> <br />