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2. Amendment and Restatement. This Agreement amends and restates the Original <br />Development Contract in its entirety with the intent and le g al effect that the amended and <br />restated teens 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 <br />Maintenance 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. 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, <br />and are to repaid through, special assessments outlined in the Assessment Agreement. <br />The CITY will release this section of this Agreement when the terms of the associated <br />Assessment Agreement are completed. <br />a. Park Dedication, The Plat is located in the CITY's Greenland Hills District. The <br />CITY acknowledges that PEIITTEE has satisfied the park dedication <br />requirement for Lot 1, Block 1 of the Plat by conveying to the CITY Outlot C of <br />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 1 of the Plat is Fifty Eight <br />Thousand Forty Three Dollars and No Cents ($1,090.00 x 64.26 acres = <br />$70,043.0O, 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 PE RMYT TEE pursuant to the Assessment Agreement sh al i 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 1 of the Plat is Seven Hundred Eighty One <br />Thousand Four Hundred Sixty Six Dollars and No Cents ([$8,337.00 x 64.26 <br />acres] + [$3,824.0Q x 64.26 acres] = $781,466.00). PEI ITTEE's obligations <br />with respect thereto are provided in the Assessment Agreement, and the actual <br />costs of water and sanitary sewer trunk construction that is part of the Stage I City <br />Improvements (as such term was defined in the Original Development <br />Agreement) payable by PERMITTEE pursuant to the Assessment Agreement <br />shall be credited against the water connection and sanitary sewer connection fees <br />for the Plat. <br />ALPHA DEVELOPMENT <br />Amended Development Contract <br />3351371v9 <br />