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ju~,14. 2005 I'06PM No,4629 P. 5/5 <br /> <br />Page 4 <br /> <br />Term. The agreement between Oakwood and the City shall expire 15 years from the date <br />the watermain and sanitary sewer extensions within the Northwest and Northeast Service <br />Areas are certified as complete by the City Engineer, and the City shall provide Oakwood <br />with a copy of such date. Notwithstanding the preceding provision, if there is a <br />moratorium on the issuance of building permits within the City, during the period of such <br />moratorium, the agreement between the City and Oakwood shall be suspended so that <br />Oakwood will receive a full 15 years in which to be reimbursed the Oakwood <br />Contribution. <br /> <br />4 <br /> <br />Assigmnent. As part of the development of the Oakwood Lots, Oakwood may transfer its <br />interest in the Oakwood Properties to a separate entity or entities. If Oakwood transfers <br />its J.merest to a separate entity, such entity shall be entitled to the prepayment of the trunk <br />charges the same as if Oakwood owned the Property.. <br /> <br />Agreement. The City and Oakwood will emer into a Cost Sharing Agreement <br />incorporating the terms o[ this correspondence. <br /> <br />If om understanding of the Oakwood Contribution and subsequcnt reimbursement is incorrcct, <br />please so advise. <br /> <br />Sincerely yours, <br />SJOBERG & TEBELIUS, P.A. <br /> <br />Mark A Tebelius <br /> <br />MAT/alw <br /> <br />CC' <br /> <br />William K. Goodrich <br />City Attorney <br /> <br />F:W:,licntg.3401\0506 - LT Cily ufRu-,~ey.~'pd <br /> <br /> <br />